Can a Melbourne Buyer’s Agent Save You Money on Your Home Purchase?
In the simplest terms, a buyer’s agent is often tasked with representing their client as they undergo the process of buying a house. Unlike a real estate agent that will typically act on the behalf of the seller; a buying agent will offer similar services to their clients – albeit on the other side of the fence. Most of these experts will specialise in several services; including the ability to find suitable homes for their client, the potential to negotiate fairer costs and other similar solutions.
Can a buyer’s agent save you money on your purchase?
In a nutshell, the answer to the above question would have to be yes. A buyer’s agent can be considered the middle-person when dealing with the purchase of a property. Not only can they save money for their client, they will usually also be able to help with minimising the stress that’s often associated with buying a new house.
They do this by taking care of the technicalities; from finding suitable homes by getting to know what the buyer wants and expects, to corresponding with other agents (as well as the seller) in an effort to find the ideal solution for their client. When it comes to saving money, most buying agents will pay special attention to dealing with the seller of the home – or their representation.
In these cases the agent will usually be able to negotiate fairer prices than those requested by the seller, before reporting back to the buyer and allowing them to make the final decision.
How much money can these experts help to save?
This will depend on the value of the home and the amount that the seller is willing to drop down from their initial asking price. In some cases large deductions can be achieved, with tens of thousands of dollars being knocked off of the price. In others, smaller percentages can be taken advantage of – but considering that many buyers can enjoy savings of between $5,000 and $25,000 AUD, it is understandable why so many people are considering taking on the services of buying agencies.
The difference that these experts can make to the purchase of a home can be very substantial, so much so that they are rapidly becoming the first ports of call for new house buyers wanting to minimise their stress, their expenses and their effort. With a buyer’s agent on board, the potential to enjoy a cheaper purchase can be very prominent and some even work alongside mortgage brokers to offer a wider range of services to first time house buyers, as well as those hoping to purchase properties for investment purposes.
Author Felicity Heffernan