Having an agent to negotiate a real estate deal on your behalf is not only for the sellers. Having a buyer’s agent can carry many advantages over adopting your own style of negotiation and sourcing properties and if you take your investment seriously, a buyer's agent makes the perfect addition to your team. It doesn’t just come down to negotiation, a buyer's agent can provide varying levels of service every step through the acquisition process. As a serious investor, the buyer's agent fee is an essential part of your adopted strategy and will guide you through the process to have a consistent and streamlined investment strategy. So what exactly are the advantages of using a buyer’s agent over going solo?
Access to extensive database of properties
You may not be aware of the flow of properties that exchanged hands without ever reaching the market. Whether these deals are done before they are listed or if they are private sales all together, your buyer's agents can bring your attention to the exclusive side of the market. Depending on the circumstances, these deals can be much more lucrative than those on the market, particularly when the seller doesn’t use the service of a real estate agent.
Buyer’s agents also have an extensive list of contacts, which they are able to call upon to secure new deals. These include contacts such as real estate agents, other investors, business owners or even mutual associates. This can not only save you a wealth of time, they can also allow you to gain an advantage you wouldn’t otherwise have when dealing with just an ordinary property listing.
Perform the tedious work so you don’t have to
Looking through properties for the purpose of investment can be a long-winded process. Knowing your criteria can limit your options and wading through listings can take up valuable time that is better of spent in other opportunities. Once you spot a property that looks impressive and perform the right amount of due diligence only to find that the property has an encumbrance that completely throws off your investment strategy, you have spent the better half of a day frothing over it.
Buyers agents on the other hand can go through the list without feeling any emotional attachment towards the property and you will only know about it once it checks all the boxes.
They have a wealth of knowledge on the potential of a property
Researching the market can be tricky at the best of times. You can look at figures that point to one thing only to find out that the area is completely unsuitable for the kind of investment strategy you are aiming for. It can be very easy to find emotional attachment to a particular area. Maybe it is somewhere you grew up or perhaps you have family residing near by. With a buyer's agent, they are only ever going to look at the hard facts and this means compiling the numbers that are going to be best for what you want to do.
Bid on your behalf at an auction
Getting caught up in the passion of an auction can be overwhelming for the best of us particularly when inexperienced in real estate purchasing. Drawing a line and sticking to it can sometimes be easier said than done particularly when you start telling yourself stories as to why you can budge just that little bit more putting your investment strategy in jeopardy.
Your buyers agent on the other hand has no issues in pulling the plug on an auction that is no longer feasible for your interests in the property making sure the decisions you make, actually make sense.
Support you during the negotiation process
When it all comes down to it, the negotiation process can be the most trying of all. You have a figure in mind and want your voice to be heard to get the deal done. Walking away from a deal can be more painful than pulling out of an auction especially when it seems all too real at the time. Your buyer's agent can take care of the negotiation process from start to finish, acting completely on your behalf and securing the deal you need to move forward in your investment journey.