Market Update By Aris Dendrinos
There's been a lot written about the merit of Buyers Agents in the Sydney real estate market.
Previously the rarest of rare species and usually only sighted in the extreme high end habitat of multi million dollar homes wishing to be acquired by celebrities and other persons of public interest, they are now a dime a dozen.
Well I'm glad you asked.
I think they're fantastic. I can't tell you the number of times a sale has fallen over due to the buyer's lack of experience. This is very frustrating for all concerned but highly understandable as purchasers couldn't possibly know all the machinations of what it takes to exchange contracts on their desired home.
I will tell you one thing though, when a deal goes south there is only ever one person that gets the blame and it is your humble Selling Agent. And yes there are occasions where that is true but the majority of the time it isn't.
From slow to anonymous service from financial advisers/brokers, Solicitors/Conveyancers, building inspectors, valuers, surveyors, etc. the buyer can be badly let down. A fact that many people may not know is the selling agent by far and away has the largest fee at stake in this transaction so more often than not is substantially more motivated to get the sale over the line.
And that's where buyers agents come in. Their REAL value in my opinion is not in finding you the right property, and it isn't even negotiating the price most of the time. Where they are worth their weight in gold is making sure you GET the property.
Yes that's right, something so simple but hugely important. Many times immediately after a purchaser's offer has been accepted I've caught myself in a moment whilst I'm telling them in great detail exactly what they need to do next to secure the home where I've thought, "did they really understand any of that?"
Buyers agents do and in a way the language of real estate sales is not something a layman can pick up straight away.
So if you're having trouble in the purchasing process consider a Buyers Agents. Like all things that take significant time and involve large amounts of money, if you try to do it yourself the results can vary from satisfactory to downright disaster.
Is it really worth the risk?