6 Wrong reasons you think you don’t need a buyers agent
Hello there! Are you nursing the impression that you don’t need the service of a buyers agent to get your property? Do you think getting a property is something you can do at your convenience? Honestly, there must be a miraculous shift in your thinking.
Many people believe a buyers agent is not doing anything special. So, they start looking for the best buyers agency to make things work for themselves. How do we know that? We have held conversations with countless people.
Dear reader, don’t be deceived by half-baked information online. If property buyers want to make things easy for themselves, they need to contact a good buyer's agent ready to stand on the buyer's behalf. And if you think deeply, you may want to look down on what buyers agent will do for you.
In other words, you may likely think you can do it yourself. If you take the search so simple within you and feel you have a strong negotiation spirit, you may think you can do it yourself. But, honestly, the journey is thicker than that.
There are some things you need to know about real estate. First, the property market is not accessible. Real estate is a field that has its way of making things work. Do you want a home or investment property with the right price, please hire a buyer's agent? Getting the right property is not what one can do by oneself. So, in this write-up, we will discuss who a buyers agent is. Then, we will also discuss their roles before moving to six wrong reasons why you think you don’t need a buyers agent.
Who is a buyers agent?
Buyers agents, often known as "buyers advocates," are qualified individuals who focus on finding, analyzing, and negotiating the acquisition of real estate on behalf of clients. They understand the local real estate market. When buying residential and commercial real estate, an exclusive buyers' agent only works on behalf of homebuyers and real estate investors.
Furthermore, when looking for, choosing, and negotiating a new property, your companion is a buyers agent. A common misconception is that an estate agent is a largely impartial person in the home-buying process, but this is not the case.
Their main concern is to close a deal for the highest possible price because the seller is their client and the one who pays them. On the other hand, a buying agent works for the buyer. So it makes sense to have someone working on your side when making such a large purchase as a property.
Also, real estate agent helps people to find their dream home or investment property. Also, buyers advocates are in charge of silent listings, building inspections, arranging inspections, and finding the best properties for their clients. Therefore, the buyer's agent helps people to get suitable property, and they will ensure to monitor the entire buying process.
Remember, the purchasing process is not an easy task. That is why you need an expert buyers agent with a significant property portfolio. In addition, you can do further research to know the purchase process in your area.
Purchasing property in Australia is challenging without the help of a buyer advocate. That is someone who understands the whole process. Instead, property investors must hire a real estate agent with local knowledge about the current market value of properties. The real estate market is unique. Only an expert can make things work there.
Now, who is a selling agent? There's a key difference between selling agents and buying agents. That's not where we are going. You can also read about How to Get Promising Leads from Sydney Buyers Agent by visiting https://hotrealtyinc.com/how-to-get-promising-leads-from-sydney-buyers-agent/
6 wrong reasons why you think you don’t need a buyers agent
1. You can quickly identify your ideal property by conducting an online search
Let's begin with the most significant issue. Undoubtedly, websites like Realtor.com, Trulia, and Zillow are excellent resources.
In actuality, 42% of buyers begin their search for a home online. But unfortunately, there are a plethora of reasons why you shouldn't trust the information you see on significant housing websites: inaccurate estimates, out-of-date listings, and postings that aren't properly labeled or described are only the beginning.
Only a buyers agent can give you access to the MLS, the only source of information about properties for sale in your area that is accurate.
2. If you are skilled at haggling, negotiating is straightforward
Perhaps you have a thick skin for negotiations. That's a beautiful place to start! When entering into a contract, it won't be difficult for you to suppress your feelings. The property purchase price is more than that.
However, most purchasers working alone fail to take into account what they cannot know without engaging in numerous other real estate transactions.
Do you know how to negotiate a seller possession clause into the contract, for instance, if the seller has to remain in the property after the closing date that you prefer? And do you know your choices if you've come to a deadlock over something "minor," like a $1,000 discrepancy in the amount allocated for due diligence or even closing costs? Then, you need a buyers agent.
3. Any problems that arise during your due diligence can be handled
Are you willing to walk away from the house if something goes wrong during the due diligence stage, such as a survey that reveals encroachments or a subpar inspection report?
Because they don't expect any resistance, some sellers have been particularly strict with purchasers they know aren't using an agent. A competent buyer's agent will handle the awkward, stressful back and forth on your behalf since they are always on your side.
Purchasing a home is stressful enough without also having to function as a lawyer in practice.
4. Thinking it is cheaper to buy a property without a buyers agent
If you think buying a property without involving a buyers agent is cheap, you need to rethink. Using a buyers agent is accessible for purchasers! That's right, the existing broker commission structures in Australia allow you to have someone represent you and your best interests.
The listing agent will indicate a percentage of the commission that will go to the buyers agent when a property is posted on the MLS. According to the listing agreement, this sum has already been decided.
If a buyer chooses to buy without a buyer's agent, they are typically not just unrepresented, but more than likely, the listing agent will receive any additional commission.
5. You can manage all the moving parts and are skilled at multitasking.
Even the most straightforward real estate deal has many moving parts. You're looking at many contact points between the inspector, appraiser, surveyor, radon and gas survey, mortgage brokers, real estate attorneys, and seller's agent.
Do you, as a buyer, have a firm understanding of the best times to schedule meetings and how long to wait for responses before bugging a vendor? Would you even know who to call to immediately get a repair quote if something came up, such as a high radon reading or a structural crawlspace issue? But, again, it's your buyer's agent.
6. Thinking the internet is there for you
Another wrong reason one may think one doesn’t need a buyers agent is the online backing. Unfortunately, many people fall victim to this. We have heard about how people are being duped online. The online platform contains both professional and inexperienced service providers. In other words, you can be tricked into buying a property online.
Closing thought
Dear reader, we hope you’ve seen something inspiring here. The above-listed information is enough to change your view about hiring a buyers agent to get you a property. Finally, do you have a question regarding this topic? Please ask. Thanks for reading!