What is a buyer’s agent and should you use one?

Are you in the market for a new home?

Buying a property is an exciting new chapter, but the process can be incredibly stressful. With so many factors to consider and decisions to make, it’s natural to want guidance when navigating the complexities of the real estate market.

This is where a buyer’s agent can be a valuable ally.

Growing in popularity amongst Perth homebuyers, a buyer’s agent can help you find the right property at the right price. (All while minimising the number of headaches in the process.)

What is a buyer’s agent?

While a typical real estate agent represents the interests of the seller, a buyer’s agent is a licensed real estate professional who exclusively represents the interests of the buyer in the property acquisition process.

A buyer’s agent assists in finding suitable properties which meet the buyer’s criteria, negotiating the sale price and terms, and generally guiding them through the process.

Advantages of working with a buyer’s agent

• Market expertise

With extensive knowledge of the local property market, buyer’s agents can be a valuable resource for unbiased information on neighbourhoods, property values, future developments and more. Their advice can help you in making smart decisions and even save you money.

• Property access

Buyer’s agents often have access to off-market properties, exclusive listings and unadvertised options, which can increase your chances of finding the perfect home. They also have established relationships with sales agents who often let them know about properties before they’re on the market.

• Negotiation prowess

Skilled in negotiation and armed with market knowledge, buyer’s agents can help you secure the best price for a property. Buyer’s agents deal with sales agents on equal footing, which is important for the buyer in negotiating terms. Also, having a buyer’s agent signals to sales agents that you’re a bona fide buyer which may give you an advantage over other buyers.

• Ongoing support

Buyer’s agents will assist you throughout the entire buying process, from identifying relevant properties to final settlement. They can recommend solicitors, mortgage brokers, conveyancers and building inspectors, to help ensure a smooth, stress-free experience. They can also help take the emotion out of buying a home. This helps you stay on budget, making it easier to walk away from a property if the price isn’t right.

• Time and money

Searching for property can be a time-consuming process, but having a buyer’s agent to handle the groundwork makes things a lot quicker and simpler. Their advice and counsel can also save you money by making sure you only pay what a property is worth.

What should you look for in a buyer’s agent?

First and foremost, you’ll want to work with a REIWA-accredited buyer’s agent. This assures you they’ve completed the compulsory regulatory requirements and gained the necessary experience for the profession.

When looking for a buyer’s agent, it’s important to find someone who understands your needs and preferences and is well-versed in the Perth property market. Opt for an agent with a solid reputation in the industry with developed relationships with sales agents.

Buying a home?

At Ascent Accountants, we can help ensure you’re adequately financially structured to make the biggest purchase of your life. If you’re in the process of buying a new property, contact our team to see how we can help.