Property Acquisition Methods – Comparison Chart ©
Here’s a summary of the 3 approaches to buying property, with advantages & disadvantages of each listed and compared. A ‘Buyer Agent’ levels the playing field between you and the property seller, by coming between you & the Seller’s agent, and working exclusively for you.
When considering a purchase as large as a piece of real estate, it’s wise not to buy on impulse, but to plan ahead & ensure you not only get ‘good value’, but also the property is the most suitable of those available, for your requirements, and is acquired for the best possible price.
|Item||‘Mainstream’ Agent||Single (‘Buyer’) Agent||D.I.Y.|
|Works for…||Vendor||Purchaser Client (buyer)||Do all the work yourself|
|Fee (cost)||Included in price, & tied to ‘high-as-possible’ sale price||
||Includes extensive research, travel, documentation, negotiation skills & unknown negotiation outcomes|
|Price||As high as agent can get||
||Depends on buyer’s ability to negotiate with a (often) skilled and experienced agent|
|Property limitations||Agent’s property listings only||No limitation; Search & screen any and all property meeting your requirements, including property not actively ‘on-the-market’||On-market property only|
|Attitude||Justifies vendor’s view of price & value||
||Time & frustration often play a major part;
Can fall-in-love with a property
||Vary with the person’s expertise, time, contacts, perseverance etc|
||Single Agency (Buyer Agency) is unfamiliar to many Australians||
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