Property Investment Tips: How a buyer's agent can help you

By the resi financial blog team, 02 February 2015

Property Investment Tips: How a buyer's agent can help you

Success in life often comes down to who you know more than what you know. It's an oft repeated phrase and something most of us take for granted. Yet when it comes to investment property, we can believe that being informed and decisive are the only tools necessary to build a solid rental property portfolio.

However, the old adage rings true when it comes to knowing where the best deals are, even before they appear on the market - this can require someone who can put you on the inside track. Having a person on your property team who permanently has their ear to the ground for the next bargain in town can be a serious asset.

What do buyer's agents do for me?

A buyer's agent worth their salt spends their days prospecting for potential purchases for their clients. They have access to a vast network of investors, homeowners and real estate colleagues, which puts them one (or two) steps ahead of the general public.

More importantly, when you do find the property that ticks all the boxes, you won't have to deal with the vendor's real estate agent. That's right - the agent whose listing is for sale is not looking after your best interests. While they are bound to work ethically and fairly, they are pursuing the highest price they can make for the property owner.

This is where your buyer's agent comes in. Essentially a consumer advocate, your agent will negotiate on your behalf and make sure you are getting the best deal on your new property possible. This isn't only limited to price, as chattels, settlement date, deposit and other aspects of a contract can be negotiable too.

Saving you time and saving you money

While a buyer's agent can save you money by negotiating on your behalf, or strategically bidding at auction, they can also save you a considerable amount of time.

Of course the actual property search can be a time-consuming task, but more importantly your buyer's agent can do most of the research for you and provide a succinct overview of pertinent property facts - saving you from having to pore through countless reports and files.

And remember all of those inspections you need to satisfy the bank that you are getting a good, solid investment? Your agent can take care of them for you. Not only will they be able to recommend a range of professionals, they can attend the inspections and relay the results to you, meaning you don't have to leave the office.

Whether you choose to use a buyer's agent or not, having a team of professionals on your side when taking out an investment loan is always ideal. Talk to the loan specialists at resi to find out more about the deals on offer today.

Categories: Property Investment