The property acquisition process can be a nail-biting or even overwhelming experience, especially for the uninitiated. Besides, it can throw unexpected curveballs at your plans. Fortunately, Universal Buyers Agents in Sydney can facilitate the acquisition process and relieve headaches if you’re hunting for a property.
So, what does a buyer’s agent do? In a nutshell, they are the representatives who promote and guard your interests. In this piece, we present an overview of their primary responsibilities.
- Searching the Ideal Property
Let’s assume you have a particular type of property in mind. A good agent devises a plan that may involve combing through listing websites or pursuing other leads to create a shortlist of suitable properties. They may also make inquiries or review activity reports in a given area to have a feel for the market. Generally, an agent worth their salt has a vast knowledge of:
- Price trends
- Amenities in a particular neighborhood
- Real estate law
- Zoning concerns
Plus, given their knowledge of the local market, they are in the best position to hunt for a property that matches your criteria. Afterward, they can contact sellers or seller’s agents and organize a viewing of shortlisted properties.
- Appraising Shortlisted Properties
Once you’re ready to appraise, view, or evaluate the possibilities, your agent streamlines the process ahead of time. They’ll update you on each property to ensure you have all the relevant information before viewing it. Then, they’ll accompany you as you walk through the property and check out its features. While at it, your agent may point out red flags and advise you accordingly.
Still, they may help you avoid making costly emotional decisions. Let’s face it; most of us have made decisions based on superficial assessments before. Well, acquiring a property shouldn’t be among them, and a buyer’s agent would prevent you from glossing over important details.
Case in point, they obtain property disclosures, allowing you to review a property. That way, you can home in on potential problems that could cause you to reconsider acquiring a particular building.
If you’re not able to view the properties in person, your agent can represent you. Generally, the idea is to help you make the right choice by:
- Inspecting and providing an estimate of a property’s worth.
- Suggest whether the building meets your criteria or needs inspection.
- Remaining loyal to your interests.
- Disclosing all the details pertaining to a property.â€‹â€‹
- Negotiating an Offer
Once you’ve found a suitable property to buy, you need to make an offer. So, how would you best determine an offer price? That’s where your agent comes in. Based on an agent’s understanding of the current market value of similar properties, they may help you make a solid offer.
If the seller counters your offer, your agent takes the lead in negotiating the best possible outcome- in this case, a reasonable price. Thus, you may snag a good deal by leveraging an agent’s experience or negotiation skills. Also, your agent can negotiate access to a property before settlement. Then, the purchase process may commence if both parties agree.
In case of a sale by auction, your agent can bid on your behalf. Besides, they understand the relevant paperwork required to formalize your bid. Simply put, they facilitate the registration process by taking care of the nitty-gritty.
- Reviewing the Paperwork
Before settling, it’s critical to have your contract and other documents professionally reviewed. Your agent handles such documentation.
Plus, if an attorney isn’t present, your representative does your homework (due diligence) to ensure everything checks out before you reach any agreement. Basically, they stay on top of things so that on closing day, you have no qualms about the entire process.
- Providing References to Other Professionals
The property acquisition process requires the input of various professionals. For instance, you need to involve a home inspector to evaluate the condition of a home to avoid buying a ‘lemon.’ Also, if you’re exploring financing options, a mortgage broker comes in handy.
And once you’ve settled, you may need other contractors such as architects or home improvement contractors to renovate or fix some issues. You may also have to search for a property manager if you buy a commercial property. Your agent can hook you up with reputable experts, schedule, communicate, or handle relevant documentation afterward.
There you have it: the roles of a buyer’s agent. Do you think involving an agent is worth it? I’ll let you decide. Meanwhile, Universal Buyers Agents are a great pick if you want a reputable and experienced professional in your corner.