What is a Buyer’s Agent and How Can They Help You?

It’s no secret that navigating the world of real estate can be confusing at the best of times. From searching for the perfect property to negotiating the best price, there are all kinds of factors to consider in your journey to home ownership.

If the home-buying process is making you feel overwhelmed and in need of some professional support, a buyer’s agent could be just the ticket.

Read on to discover more about what a buyer’s agent is, how they can help, and whether engaging the services of a qualified buyer’s agent is the right decision for you.

What is a Buyer’s Agent?

Also known as a buyer’s advocate, a buyer’s agent is a licensed professional who represents the interest of the buyer in property transactions.

Unlike traditional real estate agents who work on behalf of sellers, a buyer’s agent works exclusively for the buyer, with the aim of helping them find and purchase a property that suits their needs.

So, How Can a Buyer’s Agent Help You Secure Your Ideal Home?

If you’re curious about the benefits of engaging a buyer’s agent to assist you on your home-buying journey, here are some of the ways a buyer’s agent can help:

1. Property search

A buyer’s agent will start by getting to know what you’re looking for from your property search - such as your budget, desired location, type of property, and must-have property features.

Based on this, the agent will conduct a comprehensive search on your behalf to identify properties that match your criteria.

This can save you a lot of time and effort by streamlining the property search process and presenting you with relevant options to consider.

2. Market understanding

A good buyer’s agent will have an advanced understanding of the local property market, including current trends, property values, and upcoming developments.

As a result, they can offer valuable insights and expert guidance that will help you make more informed decisions about properties that not only meet your needs but represent a strong investment potential.

3. Property inspections

Once they’ve identified potential properties and gone over the options with you, the buyer’s agent will arrange property inspections on your behalf.

They’ll also come with you to the viewings and help you assess the condition of the property, using their expert knowledge to identify any potential issues or concerns that may affect its suitability for you.

4. Negotiation

This is one of the most important roles of a buyer’s agent. Once you’re ready to make an offer, your agent will negotiate the best possible price and contract terms.

Using their real estate expertise and market understanding, they’ll be able to negotiate with the seller or agent, to secure the property at a price that gives you the best value and fits within your budget.

In this way, a buyer’s agent can be an invaluable asset!

5. Due diligence

Buyer’s agents can help you avoid any hidden surprises or unwanted risks by conducting all the necessary due diligence on potential properties.

This can range from reviewing property documents, conducting title searches, and arranging building and pest inspections to reveal any potential issues that may affect the property’s value or your decision to go ahead with the purchase.

6. Contract management

Once you’ve selected your property and had your offer or bid accepted, a buyer’s agent will take care of all the complex contract processes so you don’t have to.

From liaising with solicitors to dealing with conveyancers and any other parties involved in the transaction, your agent will handle the management of the contract to ensure a smooth and stress-free settlement process

Engaging in the services of a licensed buyer’s agent can make a huge difference to the success of your property search, helping you find and purchase your dream home with more confidence and fewer headaches.

Whether you’re a first-time buyer or a seasoned property investor, choosing to invest in a buyer’s agent can be a smart choice that pays off in the long run.

Keen to get clued up on the home-buying process? Check out our other articles and stay in the know about all things home loans.

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This article is intended to provide general information only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice. Please consider seeking financial advice before making any decision based on this information.

Unloan is a division of Commonwealth Bank of Australia.

‍Applications are subject to credit approval; satisfactory security and you must have a minimum 20% equity in the property. Minimum loan amount $10,000, maximum loan amount $10,000,000.

‍Unloan offers a 0.01% per annum discount on the Unloan Live-In rate or Unloan Invest rate upon settlement. On each anniversary of your loan’s settlement date (or the day prior to the anniversary of your loan’s settlement date if your loan settled on 29th February and it is a leap year) the margin discount will increase by a further 0.01% per annum up to a maximum discount of 0.30% per annum. Unloan may withdraw this discount at any time. The discount is applied for each loan you have with Unloan.

‍There are no fees from Unloan. However, there are some mandatory Government costs depending on your state when switching your home loan. For convenience, Unloan adds this amount to the loan balance on settlement.

* Other third-party fees may apply. Government charges may apply. Your other lender may charge an exit fee when refinancing.