Why Should I Engage a Buyer’s Agent?
Change your negotiation skills, as most buyer’s agents have no formal training on negotiation within the real estate industry. With MULLIGAN, we have studied negotiation at Harvard and with world-class sales trainers such as Brian Tracy and Tony Robbins. We’ve read hundreds of books to master negogtiation. The difference between a highly skilled negotiator and an amateur can be up to 10%. Why pay an amateur an additional 10% commission? You could potentially do it alone and achieve a better result.
Engaging an experienced buyer’s agent will save you from spending your weekends looking at properties that, through no fault of your own a well above your budget. Sales Agents engage in underquoting, which is illegal. It baits you the buyer by low balling the price guide. You could be looking at properties up to 40% outside of your budget.
Imagine claiming your weekends back and only looking at properties within your budget and spending more quality time with your friends and family.
Are Buyer’s Agents For The Wealthy?
Absolutely not! Experienced Buyers agents are indispensable for all buyers, regardless of their financial position. They offer tailored services that cater to diverse budgets and needs, streamlining the property purchasing process for everyone. Whether you’re a first-time buyer, an investor, or looking to upgrade, an experienced buyer’s agent provides the market insights and negotiation skills necessary to secure the best deals, ensuring maximum value for your investment.
Hiring a buyer’s agent can lead to significant savings in both time and money, making you a well-informed buyer. With exclusive access to a wide range of properties, including off-market listings, buyers’ agents can quickly pinpoint options that align with your criteria and budget. Their extensive network and expertise enable them to negotiate favourable terms, often securing better prices and conditions than you might achieve independently. This professional guidance can be particularly beneficial in avoiding costly mistakes during the home-buying process.
Remember, not all buyer agents are the same. While an experienced agent can save you time, money, and stress and avoid costly mistakes, an amateur will add little to no benefit and could potentially cost you more. They do not have the relationships or known to the agent’s you want to be in front of.
How Can I Find Out How Much Experienced a Buyer’s Agent has had?
In most states, you can search Fair Trading website. For NSW, in a Google search, type the following: “Check a real estate agent licence in NSW. Click on the most relevant term from Services NSW or Fair-Trading NSW. The shorter the licence or certificate number will determine how long an agent has held a qualification. You can also type in their name, which will bring up a full history. If they do not appear in the search, they probably do not hold a licence to practice and you have no protection.
In most cases, a license holder will have more experience than a certificate holder. An agent must hold a Class 1 real estate licence to operate a buyer’s agency in NSW.
Are Buyer’s Agent’s Fees Negotiable?
In theory, yes, many poor negotiators will reduce their fees to get your business. The only advantage they can bring to the table is by offering a reduced fee.
Ensure you ask every buyer’s agent if their fee is negotiable. If the agent offers a discount, you should discount choosing them. The cheapest agent will end up costing you the most money. If they are prepared to throw their own money away, what will they do with your money?
There is a tiny exception to this rule. Sometimes, we encounter very vulnerable buyers who are elderly or have a disability. If we have the capacity, we will offer them a discount, as they will likely be highly disadvantaged and a target for a real estate sales agent to prey on. This is our way of protecting vulnerable people in the community.
