It’s pretty common for people nowadays to hire a buyer’s agent when entering the Sydney property market. Since the local property market can be so vast and competitive, you’ll need a good buyer’s agent with you to assist you throughout the entire process.
But even if hiring an agent is very common for property buyers, there are many myths and misconceptions about Sydney buyers agents running rampant right now.
And we’re here to end the misinformation. Below, we’re discussing everything you need to know about buyers advocacy Sydney. On top of that, we’ll debunk a few of the most common misconceptions about buyer agents so that you can get your facts straight before entering the market.
Read on to learn more.
What Is a Buyers Agent, Sydney?
A Sydney buyers agent is a professional who helps property investors when entering the local market. Buyer’s agents are there to represent the buyer’s best interests, help them find the right home or investment property, and even negotiate with selling agents to ensure you purchase the property at the best price.
Great buyer’s agents can help you with anything related to property purchases. Whether you want to find off-market properties, make sure you find the right property for your needs or even negotiate the best price with the selling agent, they’ll be there to help.
Most people know by this point that buying property in Sydney can be quite complicated. Aside from the fact that the buying process itself has a lot of requirements, you’ll face a lot of competition when entering the market. But if you have a buyer’s agent by your side, you have some to advocate for your interests and bring the best possible outcome.
Most Common Buyers Agent Myths and Misconceptions
You’re going to need a Sydney buyers agent, whether you’re purchasing a home or investment property. However, it’s also important that you separate fact from fiction when it comes to buyer’s agents. So, here are some of the most common misconceptions about buyer’s agents in Australia that we want to correct.
Hiring a Buyers Agent in Sydney Is Expensive
The most common assumption people have with buyers agents is that they’re expensive. We aren’t entirely sure where this myth comes from, as most agents charge a fair fee for their services. Granted, the buyer’s agent cost can vary depending on your agent and the property you want to purchase, but most of the time, agents customise their fees according to your needs.
Most agents offer their services for a percentage of the purchase price or at a flat rate. And while you will have to pay for their service, rest assured that it’s a worthwhile investment. In fact, paying for a buyers agent can even save you money because of how they can lower the final price of a property purchase.
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I Can Hire a Sydney Buyers Agent to Sell My Home
Some people think that you can hire buyer agents to sell your home. While some agents also offer selling services, you need to go to a real estate agent if you want to sell your home. Most of the time, buyer agents only represent buyers and have tailored their skill set for these services. So, make sure you only hire buyer agents when buying a property. If you’re selling a property, you’re better off hiring real estate agents who offer that specific service.
Buyers Agents Are Only Helpful for Investment Properties
Many property buyers think that they only need an agent when buying an investment property. While a buyers agent is very valuable when purchasing investment properties, they can also help you when purchasing a home.
A good agent understands the entire local real estate market. So, they’ll be able to help you buy just about any property you need. Whether you’re looking for commercial or residential properties, rest assured that a good Sydney property buyers agent will help you find exactly what you need.
You can even hire professional buyers agents who specialise in either residential or commercial real estate. That way, you get a service truly tailored to your needs.
Buyers Agents Only Help People Ready to Make an Offer
Rest assured that your agent will be there for the entire process. Some people think that your agent will only help you with the purchasing process when you’re ready to make an offer. However, the best agents help their clients with everything, from the property search down to making the final offer.
This is why it’s best to hire an agent at the start of the process. That way, you find the best properties and also get the right price for your purchase.
You Can Only Work with Buyers Agents If You Have a High Budget
Buyer’s agent’s fees vary depending on the budget and type of property you want to purchase. If you’re buying an expensive property, you can expect their fees to rise. But if you’re purchasing a basic property, the fees won’t be that high.
Most agents will accept any client and offer services tailored to their needs. So, whether you’re buying an expensive investment or an affordable home, a good buyers agent is a huge help.
Do I Really Need a Buyer’s Agent?
If you’re entering the Sydney property market, we highly suggest that you get a good buyers agent to help you with the entire process. That way, you can easily disqualify unsuitable properties that offer the best chances of capital growth. On top of that, the local knowledge and property advice from the agent is very valuable for home buyers, commerical buyers, and property investors alike.
While they may charge a fee, a good agent is key to finding your dream home or investment. So, before entering the market, consider talking to a buyers agency about hiring one of their agents for the property buying process. Click here to read about 12 home improvement projects you should never, ever DIY
Conclusion: The Truth About Buyer’s Agents in The Sydney Property Market
The Sydney real estate industry is massive, which makes property buying quite complicated. But whether you’re purchasing a commercial property or a new home, we highly recommend getting property buyers agents to help you. When you hire a good agent, rest assured that you’ll enter Sydney’s property market with a competitive advantage.
They’ll help you talk to mortgage brokers, make an offer, and find the perfect property for your needs. And now that we’ve debunked the common myths around residential and commercial buyers agents, it might be time to start talking to local agents who can help you with your needs!