Do I need a buyer’s agent?

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Many of us might come across this question at some point in our lives.

Do I really need a buyer’s agent?

Well, let me tell you this straight. Unless you are a seasoned investor with experience and knowledge in this industry, chances are you will not get yourself a good deal on a house or property. You may believe that you have got yourself a good deal, but was it?

There’s a reason why seasoned investors always get that good deal and make a nice return on investment. Part of that reason is that they have inside knowledge, connections and market knowledge.

A normal buyer will not necessarily have all of these qualities, which is why a buyer agent’s job was created in the first place. They give the average buyers a chance to essentially “compete” in the real estate industry.

This article will be listing 3 different ways that a buyer’s agent can help you.

NegotiatingNegotiating Skills

Negotiating is an important skill to have for everyday life. It is a skill that is learned through trial and error. We have started learning them without knowing ever since we were children trying to negotiate with our parents to get that toy or go to a sleepover.

For some, this skill has been honed to the point where it can be used professionally to get a favourable deal from a client or in this case from the homeowners. Buyer’s agents go through negotiating processes almost every single day trying to get a better deal for their clients.

Therefore, the odds of you negotiating on your own behalf and then getting a favourable deal is quite slim unless you are a seasoned negotiator in this industry. Having a strong negotiator on your side can easily save you several thousand or even tens of thousands on a property price.

Access / Connections

Access and connections are undoubtedly important in this industry. With access and connections, you will be one of the very first buyers to know about hot properties that are on the market currently as well as get discounted prices by virtue of being an “early bird”.

Examples of this can be seen in the ticketing industry where there are 3 rounds of tickets being released.

  • Early bird – $20
  • Normal – $30
  • Last few! – $45

Prices are increased depending on the supply and demand. Ideally, you would want to be one of the first “Early Bird” to get the best deal as possible. Buyer’s agents, for example, have connections with many insiders who have access to the early property releases.

Again, with the right connections, you can save yourself huge amounts of money on a property.

time savingTime-saving

How much is your time worth to you? How long do you think it will take to find that perfect property, arrange everything, negotiate and handle all the paper works?

As an inexperienced buyer, you will most likely take a tremendous amount of time to research everything before you come to a conclusion. Moreover, you don’t even know if that conclusion is the right one). Buyer agents can save you time by taking away ALL of these tedious processes as well as give you value by negotiating on your behalf and getting you a better deal.