Sydney is a dream location for most people living in New South Wales. The state capital is also the most populated area. But people continue to flock to the city because of its high employment opportunity, plenty of medical and educational institutions, and parks and green spaces that every member of the family will love. Its proximity to some of the world’s best beaches, like Manly, Bondi, and Cronulla, makes it one of Australia’s most visited spots.
But purchasing a property to live in Sydney may cost an arm and a leg. The city remains the most expensive housing market in the country as of the year 2020. According to a report from the Global Property Guide, the mean house price in the city is AU$890,400. It is 25% more than the mean house price in the rest of the country. It is the reason why those who want to buy a house would hire a property buyer’s agent in Sydney to help them find the best value for their money.
If you are considering contacting a property buyer’s agent, here are several important facts that you need to know before hiring one.
Who is a Property Buyer’s Agent?
A buyer’s agent is a highly-skilled real estate professional who is working to guide a client who is looking to purchase a new home. As the representative of the home buyer in a real estate negotiation, the agent has the legal responsibility to protect the buyer’s interests and help them get the best deal in the market. Home buying also needs some legal paper work done, that can be best handled by professionals like buyers advocates Melbourne.
Buyer’s Agent Versus Listing Agent: What is the difference?
Most of the time, two real estate agents are part of a standard real estate transaction. One of them is the buyer’s agent, while the other one is the listing agent. The buyer’s agent works for the buyer, while the listing agent works on behalf of the seller.
The buyer’s agent assists the client in finding available listings based on their needs and budget. Meanwhile, the listing agent puts the seller’s property in the listing market and ensures that the owner of the property for sale will get the most lucrative terms possible.
What Can a Property Buyer’s Agent Do?
Buyer’s agents know every step in the real estate buying process. Because of this, they are expert in doing the following tasks:
Find Listings: During the property buying process, the agent will ask the buyer’s about their requirements and inclinations to understand what their ideal home in Sydney looks like. These agents will use this information to start searching for the right properties. With every new listing that enters the market, the agent will filter those that fall under their requirement then forward the information to the buyer.
Schedule Viewing: Once the buyer picks the properties that capture their interest, the property buyer’s agent will set a schedule to let them see the property in person. The agent will coordinate the schedule with the property’s listing agents and the buyer to determine the most suitable time to visit the property.
Ask and Answer Queries: The buyer’s agent will always join their clients in all home visits and open houses. While the client tours around the property, the agent will answer any questions and express an opinion about the features of the house based on their knowledge. These agents also know the right questions to ask the listing agent or the homeowner so that the buyer will have more insight regarding the property’s tax information, and building condition, among others.
Consults and Negotiates the Price: Once the client finds a property in Sydney that they are interested in, the agents will start asking the listing agent about any issues that the seller needs to reveal to the buyer that could affect the property’s pricing or desirability. Then the agent will do a comparative analysis in the market to find out the right offering price for the property. The buyer’s agent will also negotiate the price and terms to purchase the house.
Hiring a property buyer’s agent in Sydney would help any future Sydney property owner to find the best home in the city. So if you want to get the most value for your money when buying a home, you must find the most credible one in the city.
