How you could have saved yourself almost $50k using a Buyers Agent

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What is the value of paying for this service? How will I save money using a Buyer's Agent?

These are the question anyone considering a Buyer's Agent (BA) asks themselves.

Ultimately buyers only truly understand the value of a buyer’s agent after they have used one and experienced the value first-hand.

Let's discuss further -

•  Buying property can be frustrating and emotionally exhausting. Minimise your stress and anxiety by engaging an experienced Buyer’s Agent.
  

•  Buyers’ Agents are constantly looking for properties via a number of different sources. Often buyers’ agents are able to use their contacts to find “off-market” opportunities thereby providing access to a more extensive selection of properties. Selling agents are also aware that a buyer using a BA has been vetted and has their pre-approval in place, ready to purchase.
  

•  Buyers’ Agents are property professionals who are able to advise you about a broad spectrum of property matters including choice of suburbs, budget expectations and the current strength of the property market backed by data and local knowledge, both are equally as important.
  

• As Buyers’ Agents gain their clients largely through referrals and repeat business they work in the best interests of the buyer by striving to ensure that their clients buy quality properties at good prices leading to a happy client.
  

• From dealing with the selling agent to liaising with your mortgage broker and solicitor, you can rely upon your buyer’s agent to make sure that the whole process takes place as smoothly as possible.

Aside from the above value you might still be wondering but how does a BA quantifiably save me money? The answer is a mixture of ways and each purchase will differ.

• Buyers' Agents are expert negotiators in Real Estate, they are well versed in how to close a deal at the right price for their clients and employ a number of tactics to make this happen.
  

• You will not overpay for a property using a reputable and experienced BA, they are specialists in their local market and understand how much properties are worth. It is quite common for a Buyer's Agent to secure you a property under market value.
  

• Time is money, especially in a market that is still rising, a Buyer's Agent will secure you a property on average within 6-8 weeks compared to the 6 months (on average) it takes buyers to secure their own property, when they do not use a Buyers Agent.

For example, the median dwelling value in Brisbane in August 2023 was $747,626, and the latest data from Corelogic revealed the median dwelling value in Brisbane as at 31 January 2024 is $796,818.

The median dwelling value in Greater Brisbane has increased, in the last six months, by 6.6%. This means you're paying an additional $49,192 for a property in Brisbane today, compared to six month ago. This is what we refer to as an opportunity cost, the cost of a missed opportunity.

If you're looking to purchase in Brisbane, get in touch with the team at Wela Property, to save yourself time and money in your property purchase.