Buyer’s agents boost tipped to grow further
We are seeing an increasing trend in the number of buyers seeking expert help to secure an investment property.
It seems more and more people are recognising the need to have a representative on their side when purchasing homes, not just when selling.
In the past, most buyers were happy to do it all themselves, but not anymore. Now they’re realising that if they’re going to snap up the best possible house for the best possible price, hiring someone that knows the market inside out is the only way to go.
Buyer’s agents do all the research for clients and use their expertise to help them avoid pitfalls like paying too much.
Buyer’s agents act exclusively for the buyer, not the seller, while a real estate agent works exclusively for the seller.
Using databases and contacts, buyer’s agents search for the best investment for clients. They will negotiate with the seller’s agent to ensure the buyer pays only what the property is worth and carry out due diligence to make sure the buyer doesn’t get any nasty surprises like finding out about zoning or road changes or unapproved renovations.
Because they know exactly how the market works, buyer’s agents can save clients’ money – whether it be on the purchase price or by stopping them buying a lemon.
Many people are also using buyer’s agents to look for their own home to ensure they achieved good long term growth – and this will prove more important as the property market moves through its different cycles.
Homeowners aren’t happy to just live in a nice street anymore – they also want to know they are going to make money and when the market is in a slower cycle it’s important that they bought a home with great investment credentials.
Investors are also increasingly keen to seek the advice of an expert.
Many investors are time-poor professionals. They use buyer’s agents to save them precious time by locating and researching the property for them – they also want to know they are putting their money in the best place to get the best return.
Seventy-eight per cent of Property Wizards’ clients are looking for investment properties, the majority of these looking for properties with development potential; 22 per cent are looking for homes to live in, either immediately or at a later date.
Property Wizards works with local, interstate and overseas buyers seeking to buy or develop property in the Perth metropolitan area.
If you have an interest in building your wealth through property, then call us on (08) 9381-7450, or request a FREE Starter Pack.