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Should you use a Buyer’s Agent? What are the benefits?

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A buyer's agent searches, evaluates and negotiates the property purchase on behalf of buyers. The key difference between a buyer's agent and a traditional real estate agent is the clients they represent. A buyer's agent works for buyers, whereas a real estate agent works for vendors.

FULL SERVICE – AND MORE!

Aus Property Professionals is a 'full service' property buyer's agent and their director Lloyd Edge explains what to look out for when choosing a buyer’s agent.

“You need one who is on the same page as you and understands your needs. They need to search and evaluate properties that meet your specific criteria, and then negotiate the purchase of your selected property without any ulterior motives”.  “When we meet a new client we always begin with a free strategy session to find out where they are financially and where they want to be in 5, 10 or 15 years and what sort of lifestyle they want to be leading”. We will then search for a property that best fits the client’s strategy”. A good buyer’s agent should always have the client’s needs as their first priority explains Mr Edge. “Each property we find for our clients needs to set them up for their next purchase. This means there needs to be some equity created up front in the purchase by either purchasing under market value, or purchasing a property with the potential to add value through a renovation or development”.

It is also important that your buyer’s agent provides you with the knowledge you need to make an informed decision about the value of a property, without the 'sales hype' that usually accompanies real estate agents. Aus Property Professionals educate their clients about buying property, right from our initial examination of your investing and financial goals at the strategy session. This saves you considerable time and stress making the biggest purchases of your life.

THE RIGHT PROPERTY . . .

Instead of you trawling through the newspaper real estate sections and Internet search engines, a good buyer’s agent should do the hard work of short-listing suitable properties for you. Their real estate industry contacts open up a wider choice of properties than private buyers can access, often well before they're put on the open market. This can give you the opportunity to snap up a bargain before the 'For Sale' board goes up!

Mr Edge explains that his company eliminates the time-wasting and frustration of inspecting endless unsuitable properties recommended by real estate agents who just want to sell them to any buyers they can find. “And through our network of contacts we can source and inspect properties in several locations without you needing to travel”.  

Aus Property Professionals carry’s out very thorough due diligence on any property they consider. The property needs to have all the fundamentals of an investment grade property. These include being in areas with a diverse range of industry, rising population, new infrastructure, hospital upgrades, transport, education (schools and universities) and close to lifestyle amenities such as cafes, restaurants, shops and parks.

Mr Edge explains that his company also thoroughly checks out the property for the condition including obtaining a building and pest inspection. They also check to see if the area is low lying or in a flood zone, has there been any re zoning or development applications lodged in the area, or are there any easements on the property.

A good buyer’s agent should source the most appropriate properties in locations with the best capital growth prospects and recommend properties that complement others in your portfolio to provide a balance of capital growth and cash flow. This balance helps you get better serviceability with the banks so you can build your property portfolio faster. 90% of Australian Property investors never get past two properties. This is because of either the wrong financial structure or purchasing the wrong property.

AT THE RIGHT PRICE…

You should never pay more than a property's true worth. Mr Edge explains that his company provides background information about a property’s current and potential future market value. All buyer’s agents should be using up to date and accurate information through the use of professional software such as Corelogic RP Data.

A buyer’s agent gives you the advantage of their extensive experience negotiating with real estate agents and vendors, whether it's by private treaty or auction. They know the best bidding tactics, and don't get caught up in the emotion that makes some buyers bid way over their intended limit. This can save you tens or even hundreds of thousands of dollars, as well as avoiding stress and saving time.

Mr Edge says his clients are often surprised how much lower they are able to negotiate a purchase price, compared to the figure they believed would have been possible if they did the negotiating themselves.

To discover more on how a buyer’s agent can help grow your property portfolio, or help you get one started, visit the link below.

http://www.auspropertyprofessionals.com.au/services/

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  ["title"]=>
  string(72) "Mortgages in a tighter lending economy and why Brisbane is a good option"
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Tune in to the latest episode of Property Showcase, the podcast with the inside track on the products and businesses that will help turbocharge your portfolio, maximise returns and make your overall investment experience seamless and stress-free!

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To hear more about these services, make sure to tune in to this episode of Property Showcase!

 Make sure you never miss an episode by subscribing to us now on iTunes!

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Son Pham is the accredited Head of Mortgages at Rethink Financing\/Rethink Investing. He has over 6 years\u2019 experience writing loans, over 12 years in the wealth management industry working for the likes of CBA, AMP and private practice and he is also a licenced financial planner (AFSL 326450). He has multiple investment properties that are cash flow positive which help pay his mortgage on his home and fund his lifestyle.<\/p>\r\n

Son is able to write all types of residential and commercial property loans.<\/p>\r\n

In this episode of Property Showcase, head of mortgages at Rethink investing Son Pham joins host Tim Neary to unpack how an investor should approach getting a mortgage in place with banks tightening down on serviceability.<\/p>\r\n

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    In this episode of Property Showcase, director of investment services for Open Corp Michael Beresford,\u00a0joins\u00a0editor of Real Estate, Tim Neary to share why he disagrees that the cooling market means that the best times are behind us.<\/p>\r\n

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      Son Pham is the accredited Head of Mortgages at Rethink Financing/Rethink Investing. He has over 6 years’ experience writing loans, over 12 years in the wealth management industry working for the likes of CBA, AMP and private practice and he is also a licenced financial planner (AFSL 326450). He has multiple investment properties that are cash flow positive which help pay his mortgage on his home and fund his lifestyle.

      Son is able to write all types of residential and commercial property loans.

      In this episode of Property Showcase, head of mortgages at Rethink investing Son Pham joins host Tim Neary to unpack how an investor should approach getting a mortgage in place with banks tightening down on serviceability.

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      • Interest only loans and if that is the way to go
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      In this episode of Property Showcase, director of investment services for Open Corp Michael Beresford, joins editor of Real Estate, Tim Neary to share why he disagrees that the cooling market means that the best times are behind us.

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      • How he wants to help clients take advantage of the current market
      • Why negative press can be good for investors
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Mortgages in a tighter lending economy and why Brisbane is a good option
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Will Magee has had ambitions to enter into the Australian property market for quite some time, but it has been more than just finances holding him back.  Having been granted permanent residency just two weeks ago, Will is wasting no time and is now in the process of signing papers and finding his first investment property.

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In this episode of the Smart Property Investment Show, Will joins host Phil Tarrant to share why he is purchasing his first property in partnership with his brother, discuss the complications that can arise from such a strategy, and unpack the ongoing plan for building a joint property portfolio with his brother.

Will will also share how they approached saving for their first property, why he is taking out the mortgage in his name exclusively, and share their savings plan for the year ahead.

If you like this episode, show your support by rating us or leaving a review on iTunes (The Smart Property Investment Show) and by following Smart Property Investment on social media: FacebookTwitter and LinkedIn.

If you have any questions about what you heard today, any topics of interest you have in mind, or if you’d like to lend your voice to the show, email [email protected] for more insights!

RELATED AREAS OF INTEREST:

From property in Australia to a ski lodge in Japan
Mortgage Trusts, an alternative first step for property investors
Should a real estate title be in one person’s name only?

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Median house prices in regional Victoria outperformed that of Melbourne in the June quarter, the latest REIV figures reveal. 

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Median house prices in the regions rose 4.0 per cent to $419,500 but in Melbourne they dipped by 0.6 of a percentage point to $840,000.

The result in Melbourne was due to a 0.8 of a percentage point fall in prices achieved at auction; this was despite a lift of 2.3 per cent in private sales.

Inner Melbourne suffered due to auction prices, where median prices fell by 4.9 per cent to $1,459,000 but it was middle Melbourne that was hardest hit, with a 5.4 per cent drop to $974,500.

Outer Melbourne had a good quarter with the median rising by 0.5 of a percentage point to $681,000.

Apartment prices in regional Victoria grew by 3.7 per cent to $304,500 while the metro media was up by 0.5 of a percentage point to $604,000.

REIV President Richard Simpson said that despite fewer sales, many sectors of the market were performing well.

“2017 was a bumper year and while the trendline has flattened, despite the fall in median house prices in the June quarter, median prices are still up this calendar year for both houses and units, in Melbourne and in the regions,” Mr Simpson said. 

In particular there was been strong growth in regional centres which is probably due to the first-home buyers’ concessions said Mr Simpsons.

“The first-home buyers’ concession has been a boon for regional areas. A new entrant to the property market buying a house at the regional median will pay no stamp duty, while a first home buyer of an apartment in Melbourne at the median price would pay stamp duty of nearly $25,000,” he said.

Mr Simpson said that more prospective buyers are looking towards regional Victoria which is also having an effect in Melbourne.

“Melbourne’s outer perimeter continues to grow. Small increases in the June quarter mean that the median prices for both houses and units have risen over 10.5 per cent from a year ago.

Mr Simpson said moving forward that vendors need more realistic expectations as the highs of 2017 are now over.

“Negative chatter about the future of the sector coupled with stronger lending controls by financial institutions has created some uncertainty and vendors need to be realistic with their price expectations,” Mr Simpson said.

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The key difference between a buyer's agent and a traditional real estate agent is the clients they represent. A buyer's agent works for buyers, whereas a real estate agent works for vendors." ["secure"]=> int(0) ["page_title"]=> string(56) "Should you use a Buyer’s Agent? What are the benefits?" ["page_description"]=> string(11) "sample desc" ["page_rights"]=> NULL ["robots"]=> NULL ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["displayDate"]=> string(19) "2018-07-16 06:45:49" ["slug"]=> string(80) "18287:regional-victoria-showing-up-melbourne-in-price-performance-new-data-finds" ["catslug"]=> string(28) "45:smart-property-investment" ["link"]=> string(100) "/investor-stories-1/18287-regional-victoria-showing-up-melbourne-in-price-performance-new-data-finds" }
Regional Victoria showing up Melbourne in price performance, new data finds

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