Buyer’s Agent

What is a Buyer’s Agent?

 If you’re buying a new home or investment property, it’s likely to be the largest purchase you’ll make in your lifetime. This is why it makes sense to understand how the real estate game works.

If you’re just starting out in the real estate market, you’ve probably never heard of a buyer’s agent. Just like real estate agents who help you sell a property, a buyer’s agent, or buyer’s advocate, is a licensed professional who works for you and acts on your behalf to search, evaluate and negotiate a property purchase. They aim to ensure you’re as fully informed as possible and that you don’t overpay.

Buyer’s agents can offer either full or partial services to help you find the ideal property. Full service means the buyer’s agent manages the entire process for you, which includes:

• Negotiate the property purchase price and terms
• Oversee the contracts and exchange
• Pre-settlement inspections
• Search available listings
• Inspect and short-list suitable properties
• Evaluate recent sales data and provide a written appraisal
• Settlement
• Asset/property management/leasing
• A ‘wish list’ analysis to understand your requirements to determine your ‘needs’ versus ‘wants’
• Oversee and arrange due diligence such as building inspections, pest, survey and engineering reports

 

Why use a Buyer’s Agent?

Buyer’s agents are licensed professionals who specialize in searching, locating, evaluating and negotiating the purchase of property on behalf of buyers. They do not sell real estate. They are engaged independently and paid for by the buyer to act on their behalf. The key difference between a selling agent and a buyer’s agent is who they represent as, by law, an agent cannot act for and accept a commission from both parties in the same transaction.

Buyer’s agents offer a number of different service options, ranging from complete searches to auction bidding and single property reports. Their aim is to ensure that the purchaser is as fully informed as possible and doesn’t overpay for the property. Having an experienced buyer’s advocate on side who is familiar with suburb values and the purchasing process also assists in maintaining objectivity when it comes to negotiating the best possible outcome.

 

Benefits of using a Buyer’s Agent

There are many benefits of using a buyer’s agent when purchasing a new home or property, as a buyer’s agent helps you:

• Gain an edge by having your own advocate who is representing your interests 100% throughout the purchasing process.
• Understand the complexities and processes of buying by providing objective information, advice and support.
• Save time by searching for and analysing property on your behalf. Having someone do this for the buyer often results in a more efficient and faster outcome.
• Negotiate to obtain the very best price and terms.
• Source the correct property in the right location with better prospects for capital growth and/or rental yield.
• Access databases and information not readily available to the public, including increased access to properties off market.
• Eliminate stress by having one representative looking after your needs, rather than dealing with several different selling agents.

 

How do I Choose a Buyer’s Agent?

Choose your buyer’s agent carefully. Selecting the right agent is likely to result in you making the right purchase at the right price, saving you both time and money. The results achieved by a buyer’s agent will benefit you in the long-term and should amount to substantially more than the fee. The choice of agent also comes down to who you feel most comfortable with, as a good relationship is also important in achieving a satisfactory outcome.

 

When Choosing a Buyer’s Agent Ask the Following:

• How experienced is the buyer’s agent?
• Do they have a solid local knowledge of the area they’ll be searching in for you?
• What qualifications do they have?
• What are their most recent purchases?
• Do they own property themselves?
• Do they have the contacts to find you the property that best suits your criteria?
• Are they REIWA accredited?
• An important question to ask a buyer’s agent is whether they are truly “exclusive” or “independent”. If they accept sales commission from vendors or developers, then they cannot be classified as “independent” as they are acting in the interests of the seller.

Independent buyer’s agents do not sell real estate or accept any fees for doing so.

Buyer’s agents (whether REIWA members or not) are required to hold a relevant license in each state in which they operate.  If you have any doubt, concerns or are seeking any further clarification please contact DMIRS.

Why Choose us to be Your Buyers’ Agent?

Saves You Time and Reduces Stress

 Searching for available properties takes time. Dealing with several selling agents at once can also be frustrating involving dozens of phone calls and inspections. As a Buyer’s Agent, we can coordinate this for you to save you time, stress and maybe even significant mistakes. 

We Understand Property

 Knowing what to look for and what to avoid is crucial when buying property. The last thing our clients need is to find potential issues when they settle on their property. When we come up with a shortlist of suitable properties for clients, we’ve eliminated properties that raise any red flags. 

The Network and Knowledge

 We have a network of contacts and can access information from databases that aren’t readily available to the average property investor. We can evaluate sales data, suburb values and capital growth prospects and explain the results in simple and easily understood terms to help clients make informed decisions.

 

Expert Negotiation

 Real estate negotiations should be performed by experienced, mature, professionals who know the market and have good business acumen. Sometimes the uninformed or over-zealous purchaser can overpay or even miss out on their perfect home. Only our most experienced staff will take on the task of negotiating on your behalf. 

Know the Local Area

 We’re not just searching for properties every day we’re also physically visiting and inspecting them. We know these areas and can pass this knowledge onto our clients

 We have access to: 

• New and Pre-Owned Residential Property
• House & Land, Townhouses, Apartments
• Exclusive Pre-release Projects
• Lending, Tax Advice, Legal Advice, Financial Planning and Property Management

We can help you find the right property that suits your needs – whether you are an owner-occupier or an investor.

 

Our 12 Step Process

 

01

We get to know you

 

02

We fill in the gaps

 

03

We build your strategy

04

We obtain finance pre-approvals

 

05

We research the market

 

06

We perform our due diligence

 

07

We complete the cash-flow analysis

 

08

We present to you

 

09

We negotiate with vendors

 

10

We case manage the transaction

 

11

We assist with pre and post settlement services

 

12

We work with you to grow 
your wealth

We Offer Three Packages:

 

Silver Package – The assess and negotiate service

Silver package is suitable if you’d like to do the property search for yourself or have already found the property you would like to buy.

We then inspect the property, prepare a detailed property report and price analysis and negotiate the purchase on your behalf.

 

Gold Package – Search, assess and negotiate service

Gold package is our most popular package – This is our full service includes weekly searching of the internet and sourcing off-market properties, unlimited inspections, full assessment with detailed reports and negotiating the successful purchase.

We keep working until a property has been purchased.

 

Platinum Package – This is our ultimate value-added service Everything in gold package plus, comprehensive building & pest inspection report by professional third-party licensed building & pest inspector, we cover all conveyancing service charge, we arrange and paid 12 month landlord insurance from third party insurance broker, we negotiate and pay property management service for 3 months, unlimited leaking tap service from professional plumbers for 12 months.

 

Our Buyer’s agency fee Structure

Silver Package – $4,400 (inc GST)

Gold Package – $6,600 (inc GST)

Platinum Package – $9,900 (inc GST)