When it comes time to do business, 88% of buyers choose to have a real estate Buyers agent Sydney navigate the ins-and-outs of the deal when they start the home shopping process online. The National Association of Realtors estimates that 43% of buyers begin by doing their own market research on their own time, as opposed to 18% who start by contacting a realtor. There are distinct pros and cons to both options, so if you’re on the fence, this is the insight you need.
A real estate agent can assist buyers in the process of buying a home, but buyers should distinguish between the two types of agents involved in the process: the buyer’s agent, who represents the buyer, and the seller’s agent, who represents the seller.
Some buyers complain about the experience of dealing with aggressive listing agents, but they should be aware of the value that a buyer’s agent can bring. There are advantages to having adequate representation as a home buyer, even though each agent performs very different functions depending on the side they represent.
What Are the Pros?
Agents can recognize red flags. Buying a home without an agent is like grilling a tenderloin without a meat thermometer: you might not realize there is a problem until you’re sitting at the table. Working with an experienced buyer’s agent can make it easier to identify and navigate issues early on in the process.
You will be represented by a buyer’s agent. They can both set up house tours, but unlike the listing agent who represents the seller, a buyer’s agent protects the buyer’s interests when negotiating and closing the deal. An agent negotiates the seller’s selling price, facilitates the home inspection, negotiates contingencies, and assists the buyer with closing paperwork.
Finding a Buyer’s Agent
Seek recommendations from family and friends if you decide to hire a buyer’s agent. A real estate agent’s livelihood depends on referrals and their reputation.
Take the time to meet several agents if you are new to the area or don’t have any referrals, and look online for leads in your area to find one who has reliable credentials and connects with you personally.
Be transparent about your expectations and timeline when you prequalify agents based on your needs. Prepare these questions:
Live in the area? How long have you lived there? Your agent should be familiar with the local geography. Although you might also want someone with insider knowledge of neighborhoods, schools, or development plans, a good agent will remain objective and refer you to third-party sources for more information.
In the past three years, how many people did you (and not your company) help buy a home? What is your current client count? Choose a real estate agent with proven success who is not so overloaded with other clients that they won’t be able to meet your expectations.