I recently saw a Facebook post questioning the value of using a buyer's agent. Here were some of the responses:
"What can a BA find outside of the research we can do ourselves?"
"They won't mentor you."
"Buyer’s agents are overpriced and overhyped."
Maybe these people had terrible firsthand experiences. And if that’s the case, I can understand why they would be sceptical. But not every buyer’s agent is the same. To counterbalance these negative comments, here are some recent examples of my work with clients where research, mentoring, and negotiation demonstrate what can be achieved with an experienced and local buyer’s agent:
1. Off-Market Property in Their Ideal Complex
One of my clients had her eyes on a specific unit complex. I contacted agents in the area and found an off-market property in that complex, negotiating exclusively with the agent. The vendor felt more comfortable giving us first shot at the property without competition because my client was professionally represented, and knew we were qualified buyers who understood the process. No competition meant less stress for my client and more time for due diligence. My client secured her dream property without the usual pressures.
2. Securing a Dream Home Under Budget
Another client thought a certain property was out of their reach, and walked away. I saw the potential and stepped in. We bought the property under budget, and now they’re living in their dream home. We outmaneuvered three other buyers, showing the advantage of speed and strategy.
3. Avoiding a Costly Mistake
In another case, I saved a client from buying the wrong property. They were eager to bid on a property at auction, unaware that a significant development would potentially obstruct their view. My research found the development proposal, preventing a costly mistake that the client would have regretted.
4. Navigating Multiple Auctions
I recently negotiated on two properties simultaneously, positioning us to purchase either one. By maintaining relationships with both agents, we ensured that if one deal fell through, we could pivot to the other. This gave my client the luxury of choice, a rare scenario in auction campaigns.
5. Understanding Strata Reports
Many buyers struggle with reading and understanding strata reports. I help my clients uncover potential issues found in these reports. The key is knowing what the issues are and factoring them into the financial decision. I help my clients understand what they are buying into, unlike many buyers who might overlook critical details.
Before dismissing the value of a buyer’s agent based on what you may read on Facebook, consider these examples of where an experienced buyer’s agent can make all the difference when purchasing. The question shouldn’t be, "Is a buyer’s agent worth it?" Instead, the question should be, "Which buyer’s agent is worth it?"