It may sound strange to propose that a person’s choice in (and decision to use) a buyer’s agent is more important than a person’s choice in (and decision to use) a selling agent. But it is. Let me explain why.
When we choose a selling agent to sell our home, there are two risks:
That for a whole range of reasons, the property does not sell; or
That we will not achieve the maximum purchase price
When we choose a buyer’s agent to purchase our property, those same risks apply in reverse:
For a whole range of reasons, we may not purchase a property at all; or
That we will pay too much
However, there is another very important reason why the decision to use the right buyer’s agent is so paramount, and this is because there is a third risk when purchasing property, and that is the risk of purchasing what I will call a “dud”. You see, when you sell a home, you take the money and move on, but when you purchase, you must live with the consequences of the purchase. Buy the wrong home for your needs and you will need to sell and buy again soon – both of which are costly. Purchase a home that needs a lot of work that you did not know about means you may struggle to sell, or need to work around the inconvenience, cost and consequences of repairs to the home. When you purchase, you are committed to a large amount of debt over many years to come, rather than selling where you become free of the debt.
So, the decision to use a buyer’s agent to represent you in your property purchase journey is a sound decision. Choosing the right buyer’s agent is paramount. Choose wisely.
Melissa Maimann is a Licensed Real Estate Agent and Buyer's Agent in Sydney. She assists home owners and investors alike with a responsive, accurate and affordable service that empowers property buyers to make informed purchase decisions. Melissa is diligent, efficient and accurate. If you need expert knowledge and advice for your next purchase, don't hesitate to make contact.