Why Savvy Buyers Have Their Own Agent

A recent report has shown that as many as 27% Sydney property buyers spend more than they had planned to spend when they buy a property.  Frighteningly, 10% exceed their budget by over $150,000!

The reasons cited include:

  • Falling in love with the property: most people are prepared to pay more for a home they love

  • Underestimating the budget needed to purchase the home

  • Being impatient or frustrated with the property search to date

  • Falling victim to under-quoting (it still happens despite the laws around this area, because under-quoting can be hard to prove)

  • Falling prey to bidding wars in an auction

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Of those who went over their budget, 64% were impacted negatively, 28% saw an effect on other financial goals, 27% had to change the way they spent money and 24% suffered emotional stress.  There is clearly an important impact in people's lives when they spend more than they had budgeted for.

Purchasing a property is undoubtedly one of the biggest and most emotional purchases people ever make - and they purchase very infrequently.

The most common issue I find when I speak with prospective clients is that they have unrealistic expectations of what they will be able to purchase with their budget.  With this in mind, it's no wonder that so many Sydney-siders end up spending so much more than they had anticipated.

My service helps these people in several important ways:

  1. I ensure that all finance is ready before we start the search process

  2. I ensure that only those properties that will sell within my clients' budget are i the mix. This protects my clients from falling in love with the home that is going to sell for more than their means.

  3. I ensure that my clients' budgets are adhered to and I keep my clients accountable.

  4. I am here to help my clients through the emotional turbulence of a property purchase: I keep clients calm when they are despairing, I use logic and wisdom to reassure, I am sounding board and I help my clients make savvy purchase decisions.

Melissa Maimann is a licensed Buyer's Agent in Sydney. She assists home owners and investors alike with an affordable service that empowers you to make smart purchase decisions. Melissa's service is fast, efficient and accurate. If you need a hand with your next purchase, don't hesitate to make contact.