Do you really think a buyers agent can save you time and money in Sydney? If you rephrase this question instead to how much is your time worth? You may start to formulate an answer. Assuming you earn $30 per hour. How many hours would you pay for someone else to find you a property? 50 hours? 100 hours? 1,000 hours? What happens if you earn more. Say $50 per hour or $100 per hour?
If you understand opportunity cost, then the answer starts to become more apparent. Why do a job you aren’t a specialist in when you could pay for someone who only does that specific job. At the same time you can do the jobs you enjoy and make much more money!
Buyers agents find, search, negotiate and secure property for clients on a daily basis in Sydney and around Australia. It’s their job. That’s how they make a living. No different to any other professional service. Experts at identifying property, understanding value and negotiating to save you money on the purchase price.
The negotiation is another key point. It’s an aspect that makes your buyers agent different to a sales agent. It’s in a buyers agents job description to negotiate. By this you should expect negotiation on the purchase price to place you in the best possible position to save you both time and money. Referring to not having to invest hundreds of hours yourself. These hours usually involve calling agents, inspecting numerous properties, reading through listings, finding out further unknown information and trying to ascertain the actual value of the property to minimise the purchase price.
A common myth you may have heard is a buyers agent is a premium service only for the rich. Some may agree. But when you think about the benefits of the service. It actually pays to engage a buyers agent as they can save you time, money and hassle. At the end of the day you will actually be up more than you spend on their fee.
A final part where buyers agents make you more money than their fee is by securing property you couldn’t otherwise find or have access too. These are referred to as ‘off-market’ listings. These are mainly generated through strong real estate agent relationships.
When thinking about the pros and cons for engaging a buyers agent think about these three points and ask yourself these questions:
- Can I afford to spend hundreds of hours finding a property or is my time better used doing work I really enjoy?
- Do I really understand how to value a property and the best ways to negotiate?
- Will I be able to have access to potential off-market listings?
If you are looking for property in Sydney or even around Australia and haven’t considered engaging a buyers agent, feel free to call us today on (02) 8065-6659. You can find out more about the service and how it can be tailored to benefit you.