MAP arranges a lot of pre-approved home loans for expat clients but many end up expiring as the task of finding the right property is too difficult when living overseas. This is whether a buyers agent can assist.
A Buyers Agent (or Buyers Advocate as they are sometimes known) are essentially real estate agents who represent the buyer rather than the seller. So a standard real estate agent representing the seller is trying to get the best price for the seller – the buyers agent is attempting to get the best price for the buyer.
The services offered by Buyers Agents does differ from agent to agent. Obviously all Buyers Agents will, on your behalf, locate suitable property for you and negotiate the purchase of that property. Some buyers agents though will also take care of or assist with;
1) Ongoing property management of the property if its an investment property (ie, find tenants and handle the ongoing management of the property),
2) Renovation and Development – some buyers agents will purchase property on your behalf with a view to renovate for profit. The Buyers Agent in this case will highlight the renovation plan and call for tenders from their panel of experts to determine cost of the renovations. The Agent will then project manage the renovation/development through to completion.
There are several reasons to use a buyers agent, here are just a few;
1) If you are an Expat or Non Resident living overseas the Buyers Agent is your eyes and ears on the ground keeping a look out for property on your behalf. They will also handle all the negotiations on your behalf so you save time and money by not having to make the trip back home,
2) Buyers Agents often get access to property before they are advertised to the general public. This is because Real Estate Agents selling property will have clients that require a quick sale so will offer the property first to a Buyers Agent who they know have buyers lining up to purchase.
3) Many Buyers Agents are qualified valuers so know what a property is worth. Many have also bought and sold 100’s of millions of dollars worth of property and therefore know a deal when they see one,
4) A limited number of Buyers Agents will also take care of renovations and will locate property with this idea in mind. So Expats and Non Residents living overseas can still take advantage of buying and renovating Australian property for profit.
Prices do vary between agents but generally they charge around the 2% mark. Most will require a deposit upfront (generally around $1500) which is non-refundable however it will come off the total fee payable upon purchase of a property.
If you would like to use a buyers Agent but are unsure where to start, MAP has access to a network of Buyers Agents Australia wide so contact us for a referral.
More information on Australian Citizens buying property in Australia from overseas here
Kobus&WillemienJustin assisted us in buying our first house, in Australia, 10years ago. He just did it again with our second house. Same old story again… Always helpful, always available, always friendly. We didn’t had any stress, he just sorted it and came up with the best results to suit us. What a pleasure to work with. Thanks Justin, you just made it so easy.
Brendan ConquestWe have been working with Justin for almost 10 years and he has always made the process easy and time efficient. Justin’s help to get things over the line is stress free and uncomplicated, he always handles everything with such care and compassion.
We are extremely grateful for Justin’s services and would highly recommend him and the MAP home Loans team to anyone in need of help, advice or guidance with their home loans.
Thank you, Justin!
Timothy RussMy Wife and I worked with Justin to purchase our first home and we couldn’t be happier with the help we received to make our dream a reality. Justin had answer’s to every question and made it very easy to understand how it all works. I highly recommend using Map home loans to take the stress out of buying a house.
Almost there, please complete the form to request your..
In this Guide, you’ll discover…
Free Report LIVE 2020 WDS
Almost there, please complete the form to request your..
In this FREE phone consultation, you’ll discover…
And, much more – We will answer any of your questions!
In this Guide, you’ll discover…
We guarantee 100% privacy. Your information will not be shared.
In this Guide, you’ll discover…
We guarantee 100% privacy. Your information will not be shared.
Almost there, please complete the form to request your..
In this Guide, you’ll discover…
In this Guide, you’ll discover…
We guarantee 100% privacy. Your information will not be shared.
We allow you to…
We guarantee 100% privacy. Your information will not be shared.
We allow you to…
We guarantee 100% privacy. Your information will not be shared.
We allow you to…
We guarantee 100% privacy. Your information will not be shared.
We allow you to…
We guarantee 100% privacy. Your information will not be shared.
Almost there: please complete the form to request your…
We respect your privacy