Buyer’s agents are the opposite to real estate agents (selling agents) in that they work for you, the buyer, rather than the seller. If the seller is hiring a professional to negotiate their side of the sale, why wouldn’t you hire a professional to negotiate for you too?
They do it every day – Buyer’s agents are in the market all day every day and so there’s a very good chance that they’re going to do it better than someone who only does it occasionally.
They’ve got insider knowledge – Many properties that get sold don’t even go on the open market as many owners don’t want the hassle of a series of open houses, prefer to be private or are simply in a rush to sell. As buyer’s agents are constantly in contact with real estate agents and are buying multiple properties, they get to hear of properties for sale before the average mum and dad.
Agents often prefer dealing with them – When agents deal with the average buyer they often get messed around, misled, toyed with and let down at the last minute. The average property buyers are unsure of what they are doing and are therefore indecisive. Buyer’s agents who perhaps purchase one property per week tend to be more efficient with their decisions and actions. Emotional buyers may well pay more for a property but often the selling agent would prefer to get a guaranteed sale for less money rather than a sale that may fall over.
They make factual decisions, not emotional ones – Buyer’s agents are being paid to find you a good investment and that means they have to consider all aspects of the property and the price. This leads them to make factual financial decisions rather than the emotional ones that most other buyers make, especially when choosing their own homes.
They have the time – If you have to inspect 50–100 properties to understand the market and to find the right one, do you really have the time to do it yourself? Viewing five to 10 properties each Saturday would mean 3–6 months of lost weekends for each property you want to buy. Most people get fed up and buy the next thing they see at any price which is no way to buy a home or build a stable property portfolio. Buyer’s agents will be out there every week no matter if they buy or not so there’s less chance of them making a pressured decision.
They save or make you money – If you’re paid $100–$200/hr at work your limited leisure time should be worth at least $500–$1,000 an hour. If a buyer’s agent is also going to get you a better property at a cheaper price, learn to spend $1 to make $2. If a buyer’s agent can save you $100k on the property, it’s worth paying the $20k–$30k. Even if they don’t buy you a cheap property but instead find a property that’s going to grow at 10% a year rather than 8%, you’ll be making $20k a year extra for the rest of your life.
Isn’t it time you hired a professional buyers agent to save you time, money and the perfect investment from being pushed out of reach at an auction?