Thursday, 17 September 2015

How a Buyer's Agent Can Help You Buy The Right Home

Assess your purchasing criteria

Firstly, a good buyer's agent determines what you would like to achieve with a property purchase as this is fundamental to developing a strategy that’s right for you. For example, do you need a property for tax deductions, future land development? Turn over a quick dollar buy flipping the property or buying a dream home.

Taylor a strategy to your criteria

A buyer’s advocates help's you formulate a realistic strategy eg:
  • ‘Yield Based Strategies’ where the majority of your investment is in the actual ‘bricks and mortar’ that offer stronger rental, bigger depreciation, low maintenance and low capital growth.
  • ‘Capital Growth Strategies’ in more sought after areas where the majority of the cost of the property is the land value and where the opportunity for capital growth is greater.

Search the market for the best property

A good buyer's agent conducts an extensive suburb search choosing the best available properties. The client will be presented with a ‘short list’ of properties and prioritise the best opportunities. The agent will then physically inspect the short listed and choosing a select few. The client will have the option

Asses the property
The next step is physically assess the property in greater detail searching for any ‘potential problems’ or hidden cost's, factoring them in to the overall cost.

Establish the market value of the property

This step will make sure you don't pay to much for a property. A buyer’s agent will take a look at comparable sales data to help us assess the property’s true worth.  The agent will help the buyer understand the difference between the asking price and its true market value.

Closing the deal

Once the potential property ticks all the boxes based on the original criteria the buyer's agent will submit a written offer to begin negotiation. A great buyer's agent will utilise all the tricks of the trade, ensuring the deal is closed at the best possible price. Importantly, a good out come for the buyer will see a number of conditions that protect's them eg: finance / building and pest clauses, early lease clauses, release of deposit or property repair clauses etc.