The question has always been posed – “Why do I need a Buyers Agent when I can do it myself? Why would I spend the money?”
I thought this would be a great opportunity to answer the question and explain the benefits a buyer gets by engaging a qualified and experienced Buyers Agent to find and negotiate a proposed purchase.
In summary – here are the reasons you should use a Buyers Agent:
- The Vendor has an experienced negotiator on their side, that is the Sales Agent who sells real estate everyday. His job is to protect the Vendor and obtain the best possible price. His interests are NOT with the buyer.. Accordingly Buyers should engage their own professional negotiators who can “match” the Vendors Agent.
- Vendor Sales Agents like dealing with Buyers Agents. Given that a Buyers Agent understands the process, and have a “qualified” buyer, they know that there will be no time wasting and that there is every chance that a deal can be completed. Sales Agents want to sell and move onto the next deal. They don’t want to be wasting time with buyers that don’t understand the process.
- Buyers Agents are in the market everyday.
- Buyers Agents have access to “off market” opportunities, not generally available to the average buyer.
- Buyers Agents have access to up to date sales date and comparable sales – They know what the property last sold for and what has been sold around the area. They have the same data that a Sales Agent has.
- Buyers Agents negotiate everyday, just like sales agents.
- A good Buyers Agent will advise you of the risks of losing money.
- A Buyers Agent should prevent you buying “inferior” properties.
- When a new property is coming to the market – A Sales Agent will normally contact their list of Buyers Agents before they contact unrepresented buyers. That means Buyers Agents get to see the property first.
- At the higher end of the market – Vendors generally prefer not to market their property or to have open for inspections. In these circumstances, the Selling Agent will contact the Buyers Agent to see whether a deal can be done “off-market” with little fuss. That means Buyers Agents get to see deals that the average buyer does not.
- A Buyers Agent can identify problems in the property that can open the door to a better negotiation.
- There is no guarantee that a Buyers Agent can obtain a better price – but a good Buyers Agent should avoid you paying too much.
- A good Buyers Agent will reduce the risk of the property being a “lemon” and susceptible to huge losses.
- A Buyers Agent should be a trusted advisor that you can “bounce” ideas
In addition to all of the above, the Buyers Agency Team at Carver Lawyers provide the following additional benefits, that no other Buyers Agency firm can provide:
- Given that we are also Lawyers – we are able to negotiate legal terms of the Contract when the usual buyers agent can’t. Having the ability to negotiate terms of a Contract gives a buyer the benefit of being able to negotiate a purchase by using other levers, such as special conditions, vendor finance terms, longer settlements, inclusions, simultaneous settlements etc, which may be necessary to get the deal over the line. Price is not the only negotiation item.
- As Lawyers – we understand when a title issue can be overcome. For example, where there are easements, covenants or rights of way – we understand what they are and can explain these to our buyers. Sometimes there is an opportunity to extinguish an affectation on the title which in turn creates a huge uplift in price.
- As Lawyers we know what due diligence needs to be completed. We can undertake necessary due diligence before the matter is passed to the Conveyancer. No other Buyers Agent can do this.
- We can assess a risk of a purchase and advise the client well before its too late.
- Sales Agents love to deal with us – They know that we are aware of how a deal can be put together. We don’t waste their time. The ability to do a deal relatively fast creates value.
- We know how to get Reports ordered and completed quickly – such as Pest and Building Reports etc.
- As Lawyers we have been trained to negotiate in our many years of law school and court matters.
- We have been educated in ethics. Clients can be assured that their best interests are being looked after.
At Carver Lawyers – we combine our legal knowledge with our practical skills as a licensed Buyers Agent to create a truly unique real estate advisory firm never seen in today’s market.
If you would like to discuss your next purchase, please contact Dean Carver on 0414 322 990 or in the office at 02 8916 6104. We can also be reached by email here.
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