Are Buyer’s Agent’s Fees Worth It?
Considering that anyone can buy property on their own, why would you possibly pay someone thousands of dollars to do it for you? It is unsurprising therefore, that many people ask themselves: Are Buyer’s Agent’s Fees Worth It?
In trying to work out the value of employing a Buyer’s Agent, ask yourself the following 6 questions:
- Are you confident about what a property is worth?
- Do you consider yourself to be an expert negotiator?
- How much value do you put on your own time?
- How much money could you save if you got into the market 6 months sooner?
- Are you able to inspect properties at short notice?
- Do you know about off-market listings?
1. Are you confident about what a property is worth?
Being able to quickly and confidently appraise a property is important. This is the only way buyers can recognise a good opportunity when it comes along, (and importantly to know when to walk away!!). The Buyers Agents at Your Property Hound, are expert on local market conditions, and have the time and resources to investigate comparable sales in the area. These skills can be invaluable in the competitive Brisbane market where properties are selling quickly (and often under multiple offers).
2. Do you consider yourself to be an expert negotiator?
Most people will buy one or two properties in their lifetime. To be a expert negotiator you need to have formal training and many years of experience. Your Property Hound has purchased hundreds of homes in the Brisbane area, and our agents have undergone formal negotiation training at an international institute (Real Estate Negotiation Institute). Being a Certified Negotiation Expert (CNE) ensures our clients are able to secure a property for the best possible price and conditions.
3. How much value do you put on your own time?
Researching the market, and then searching and inspecting properties is a time consuming process. Buyers can spend hundreds of hours of their weekend or leisure time on the property hunt. Some even have to take time off from work. Employing an expert to shortlist suitable properties and perform detailed due diligence can save an enormous amount of time and stress.
4. How much money would you save if you could get into the market 6 months sooner?
On average it takes Brisbane home buyers 12 months to secure a suitable property. At Your Property Hound it takes us on average 6-8 weeks to purchase a property for a client. In a rising property market (where prices can increase by 5-10% per annum) this could easily save tens of thousands of dollars.
5. Are you able to inspect properties at short notice?
Currently in Brisbane, houses that are well priced and presented are selling in the first 2 weeks that they are on the market. For people with significant work or family commitments, and for those that do not live locally, it can be difficult to inspect and research properties in such a short timeframe.
6. Do you know about off-market listings?
An off-market listing is a property which is not advertised to the general public. In order to have access to these properties buyers need to have good relationships with sales agents in the area. Your Property Hound has established trusted relationships with local sales agents, and are given priority when it comes to off-market listings. This gives our clients a greater choice of properties, and the opportunity to secure them in a less competitive market. To read more about off-market listings in Brisbane click here.
Whether or not to use the services of a Buyer’s Agent is an individual decision. Experienced buyers, who have the time and resources, can successfully purchase property by themselves. For inexperienced buyers (or the time-poor), employing an expert can be a worthwhile investment. In many cases, the value that a Buyer’s Agent adds to a purchase, is significantly greater than their fee.
For more information about Buyers Agent Services in Brisbane Contact Us.