People often ask, “What does a buyer’s agent do? Can’t you buy a property yourself and save money?” We have an eye-opening story that reveals the hidden dangers of going solo in the property market.
A recent client in Brisbane, Queensland, turned to a buyer’s agent because they lacked the time, experience, and expertise needed for such a significant investment. Their requirements were straightforward: a property near Brisbane city with the usual amenities.
The seasoned buyer’s agent went above and beyond, sourcing off-market properties and preparing detailed appraisals for each one to ensure they met the client’s needs and were sound investments. The agent provided access to critical information that typical buyers often overlook or are not offered. When facing off against a selling agent, a buyer’s agent is armed with the same market knowledge and tactics, ensuring a level playing field. This means no nonsense—just skilled negotiation and keeping the selling agent on their toes.
One often overlooked benefit is that a buyer’s agent adds a layer of credibility and seriousness to a buyer’s offer, making it stand out to sellers. Selling agents prefer working with buyers’ agents because it signifies a serious, prepared buyer, which can make a difference when owners evaluate offers.
Despite these advantages, our client thought they had learned enough from their agent and decided to continue their property search independently. They made an offer on a property but retracted it, believing they could handle the process independently. A week later, they purchased a different property, and initially, everything seemed great. Right?
Unfortunately, not. The client spent $100k more on a property further from Brisbane City than the one they initially considered. To make matters worse, the new property was in one of Brisbane’s worst flooding areas, leading to exorbitant car and home insurance costs. The client is struggling to sell this problematic property due to its unappealing location and high insurance costs.
This story highlights the critical role a buyer’s agent plays in navigating the complex real estate market, providing expertise, peace of mind, and protection against costly mistakes.
Today, your money is more important than ever. With the ever-changing market and rising interest rates, being well-informed on your buying journey is crucial. Whether you choose to engage a buyer’s agent or invest hours in research and learning, keeping your investment safe is essential.
