If you’re in the real estate investing business, are there benefits of using a buyers agent when looking for property? That’s an easy one: yes, there are many benefits, and you should definitely use a buyers agent. The main reason is that a buyer’s agent can help you make more money – the only reason you got into investing in the first place. The benefits of using a buyers agent when buying an investment property are too numerous to list in full, so let’s take a look at the most important ones.
Savings in Time and Effort
There’s no way around it: it takes a lot of time and effort to research and select investment properties. A buyer’s agent can do all this researching and selecting for an investor because that’s the agent’s job, and he/she has far more time to devote to it. So if you’re an investor, all you have to do is wait for your agent to inform you about the potential investment opportunities he/she has found for you.
Needs Objectively Met
Another one of the important benefits of using a buyers agent when buying an investment property is that your agent can probably be more objective about finding properties that meet your investment needs and fit your business model. Sometimes, as an investor with your attention is pulled in many competing directions and with many duties claiming your time, you can’t always be as objective as you should. Your agent, however, can be.
Investment Business Knowledge
Your buyer’s agent also possesses a wealth of real estate investment knowledge. This means that your agent can help you source the best properties from a capital growth point of view. What does this mean? Rather than just getting a gigantic list of properties where the numbers don’t make sense for most of them, they can (and should) vet the list by running a financial analysis of the ones that look like there can be potential to ensure it hits the profit goal you are looking for. This way, you get a solid list of maybe 5 potential properties instead of 100 negative net properties.
Access to Unlisted Properties
Another of the great benefits of using a buyer’s agent when buying an investment property lies in the fact that agents usually have access to unlisted (off market) and little-known properties. They have access to both private sales and the harder-to-find properties that are available to the public.
Many of the unlisted properties are set up that way because the sellers have a good relationship with the buyer’s agent and so just use that direct line. These sellers would rather have the quick sale that can happen through the agent rather than wasting time and money using a traditional listing. The upshot here is that if you aren’t using a buyer’s agent, you could be missing out on a lot of opportunities.
First in Line
To get the best deal on an investment property, you’ve got to beat other interested investors to the punch. And a good buyer’s agent can help ensure that you do that.
In addition to getting you at the head of the line of investment buyers, your agent can also use their sound market knowledge to get a good bargain for you – which is likelier to happen before other bidders get in the game. Simply put, a good buyer’s agent can help prevent other buyers from beating you to a great bargain – one the outstanding benefits of using a buyers agent.
Obviously, the benefits of using a buyers agent when buying an investment property are many. If you’re short on time, especially, a buyer’s agent could be just the asset you need. The agent works on your behalf and, as a result, you stand to make more money.