Stepping into the Melbourne real estate market and looking for the right agent is like making your way through a host of landmines. One wrong step could cost you thousands in a blink of an eye!So, what makes it such a difficult landscape?
Well, for one, there are so many Melbourne buyer’s agents who are licensed. How does one distinguish between the lot of them? It’s one of the most important financial decisions you’ll ever make, so it makes sense that many first home buyers in Melbourne feel intimidated when they don’t know who will be holding their hands.
This transaction must be handled by the right person. Hiring a relative or friend who also happens to have a real estate licence may seem like a good idea, but it might be a nightmare waiting to happen. A buyer’s agent, Melbourne or be it anywhere in Australia, is the skilled and qualified professional you need.
To elaborate, we have listed 3 reasons why…
When done right, negotiating can help you save a lot!
While buyers and sellers both desire the greatest possible bargain, a compromise must be reached for the transaction to be completed. Because a home is typically the largest asset a person owns and because there could be a significant financial investment involved, it is necessary to negotiate.
And do you know who is an expert negotiator? A buyer’s agent. Melbourne buyer’s agents know exactly how to negotiate on behalf of the buyer; their clear objective is to arrive at a price that fits the buyer’s budget and might even leave them with extra cash. Buyer’s agents know how to clinch a deal at the right price for their buyer because they have all this expertise and understanding under their belts. Even more so, you can trust a seasoned broker to use their negotiating prowess to bring sellers down to the buyer’s pricing point. After all, the very last thing a buyer wants is to enter negotiations unprepared and untrained and leave with the impression that they overpaid for a home!
How does spending less at the auction sound?
The house you purchase should ideally be within your price range. However, you must also take into account that the purchase price is only a portion of the financial commitment you’re making to your home in order to truly understand how much a property actually costs. Keep in mind that there are additional costs associated with buying a property, such as taxes, insurance, as well as maintenance and upkeep expenses. If you overextend yourself in the beginning to get a higher purchase price, you are setting yourself up for a struggle—not just with your monthly mortgage payment, but also when the heater breaks or the ceiling needs to be replaced.
Buyer’s agents are aware of when to push for a deal and when to back off. They assess if a property is worth what the sellers are asking for using their knowledge. You could get a bargain at the auction. A buyer’s agent will recognise when it’s time to throw in the towel if bidders are employing strategies that are certain to drive up the price.
Why not invest in research to save money?
In an ideal world, the home-buying process would be as simple as browsing ads online and touring properties. However, buying a house needs extensive pre-purchase planning and study. The importance of doing your research is amplified if this is your first home purchase.
Time is money, and doing research may be expensive. Buyer’s agents are fully equipped and knowledgeable to help their clients navigate the market and avoid spending time or money looking at homes or neighbourhoods that are unsuitable for their needs or are outside of their price range.
Bottom Line
Why schedule building inspections for homes that are likely to sell during an auction or during negotiations for a higher price? A buyer’s agent can rapidly weed out overpriced houses and direct clients away from homes that don’t suit their requirements. So then why would a buyer waste time or money purchasing pricey market or building reports?Whether it’s on groceries, clothing, or health insurance, everyone leaps at the chance to save money. Therefore, why should purchasing a home be any different?
There are a ton of benefits to using a buyer’s agent. Real estate is a tricky business; whether you’re shopping for your first house, an investment, or your ideal home, finding the best buyer’s advocate, Melbourne or not, can help you save loads of money.
Buyer’s agents may help you save money in a variety of ways, ensuring that you leave the negotiation process with some extra money in your pocket to use toward the lifestyle you’ll lead in your new house.
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