Purchasing power

By Phillip Tarrant 30 November 1999 | 1 minute read

You wouldn’t think twice about engaging a professional when you sell your home, but what about when you’re in the market to buy?

Finding a new home or investment property is an exciting experience but for some buyers it can be stressful. It can be tricky negotiating with a professional estate agent over hundreds of thousands of dollars, and it is often hard to know when you’ve driven the vendor down to their lowest price.

After all, there’s a lot at stake and many buyers are as afraid of missing out as they are of paying above the odds for a property. This is just one of the reasons that a growing number of Australians are turning to the services of a buyer’s agent.

Buyer’s agents help homebuyers in the purchasing process and have gained in popularity over the past few years as more Australians recognise the value of drafting in a professional to negotiate on their behalf.

Much the same as a real estate agent represents the vendor, a buyer’s agent represents the buyer in terms of finding the right property and negotiating the best price. A good buyer’s agent will have considerable local market knowledge as well as a proven track record in real estate negotiation.

You can engage a buyer’s agent to take care of the whole purchasing process or simply just to bid on your behalf at auction. Charges for the services of a buyer’s agent can vary from a flat fee to a percentage of the property purchase price depending on the level of assistance they provide.

If you’re interested in engaging a professional to help you with your next purchase it’s always best to look for a referral. Ask family or friends for a recommendation; also feel free to give me a call if you’d like my help.

About the author

Phillip Tarrant

Phillip Tarrant

Phillip Tarrant is executive editor – Real Estate at Momentum Media. He is also an investor with a large property portfolio.

He leads the content strategy and corporate growth for a range of market and business intelligence platforms at Momentum Media, including Smart Property Investment – the authoritative voice for Australia’s property investment community.

As head of the Smart Property Investment Podcast Network, he also steers the largest network of property podcasts in Australia, which collectively generates nearly 2 million downloads every year.

There are over 2.6 million investment properties in Australia, with over 2.1 million Australians (or around 8 per cent of all Australians) owning one or more investment properties. A vibrant and critical sector for... Read more

Purchasing power
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