The Australian real estate market is complex. Many factors influence the cost of a property in Sydney. Finding the right property as an individual or a newbie is impossible. To fill this gap and tackle this problem, buyers’ agents became very popular. In recent years, the demand for buyer agents has increased in Sydney to reduce stress and time.
They act as middlemen between buyers and sellers. They take almost every action required to find properties that can keep up with the customers’ expectations. Well-established cities in Australia constantly need buyers’ agents’ services. The demand for buyers agents in Sydney and Melbourne cities is significantly higher, where the property market is very competitive.
The Australian Institute of Conveyancers (AIC) estimates buyers’ agents completed over $5 billion of residential property sales in 2021-22. It is a significant increase from buyer agents’ $3 billion sales in 2013/14. The above data can show the intensity of the buyer’s agents’ needs. Research also reveals that these agents are viral among first-home buyers who are new to the buying process and seek expert advice.
Read further to know why first-time home buyers must seek the help of a buyer’s agent. It can also give you a glimpse into the general functioning of the agents.
Agents can save you considerable time by involving much footwork associated with home-buying. From searching for properties that match the customers’ criteria to completing all the formal paperwork to hand it rightfully to you, buyers’ agents do a lot of work on your behalf.
This can be overwhelming to first-home buyers. as the real estate market is already complex and ever-changing. Buyer agents are trained professionals with enough expertise in the Australian market to help you make the best decisions.
Help choose the best property.
A buyer agent knows what to look for in a property to assure its quality. Typical buyers have fallen into the trap without knowing specific nuances. A house may look perfect on its exterior but can have severe hidden issues.
They also not just find a home but choose one that can align with the customers’ investment strategy. Even when you are carried away by a property that does not match your needs, the agent can timely remind you and save you from an expensive mistake.
Updated knowledge of the local market
This is one of the fundamental reasons first-time home buyers must seek the assistance of a buyers’ agent. Every real estate market is different. It can be different in each city and even in every neighbourhood.
Also, the complexity degree can be more significant if it is a metro city. Only buyer’s agents in Sydney can know many hidden details that a commoner would not know. They will have enough experience buying the best houses for you in the most well-off cities of Australia.
Evaluate and secure financing
Agents can introduce you to all available financing options. They can also tell you which can be feasible according to your affordability by evaluating and ensuring securing with advanced tools and methodologies. They would also be well aware of the comprehensive process and local rules and regulations.
Avoid common mistakes
Purchasing a home is always risky as it involves a significant budget. Many times, a small mistake can lead to a considerable loss. Agents can be of great help in avoiding these situations. They can carefully walk you through the process by warning you about the potential risks.
In a nutshell, it is not wise to overlook the importance of a buyer agent if you are a first-time home buyer. It will help if you understand that you are also getting an opportunity to learn about a market from an expert. You can use this chance to buy a perfect property and discover the real estate market.