Is a Buyer’s Agent Necessary?
by Mish Daniel | Free Information
We know a lot of commercial property owners and investors keep asking if a buyer’s agent is necessary.
While on the surface a buyer’s agent may look like additional expenses, what many don’t realise is that they can save you thousands of dollars and countless hours of research and due diligence, by bringing their expert knowledge to the table.
The process of acquiring new commercial property is complicated and has many stages – no matter how seasonal an investor you are. Here at Revolve Commercial, we offer both commercial property investment consultancy services and commercial buyer’s agent services to various types of clients in and around Brisbane.
In today’s fast-moving market, having the right guidance of expert commercial property professionals provides a streamlined process for every decision and consideration, not just up until signing on the dotted line – but BEYOND that with the ongoing management of the commercial property thereafter.
What is a Buyer’s Agent?
A commercial buyer’s agent is a commercial real estate professional who walks you through buying a property. They act as the representative of you as the buyer and go the extra mile to ensure it is a safe and secure commercial asset. With a buyer’s agent, you have more chance of securing a sound cash-flow investment with minimum risk.
A buyer’s agent also uses their skills to negotiate prices and come up with reasonable offers for you as the client. There are two classifications of a buyer’s agent. The first deals solely with the buyers and there are others who connect between the seller and the buyer. The latter are qualified to discuss terms, prices, conditions, and payment methods.
What Does a Buyer's Agent Do For You?
Here are some of the key responsibilities of a commercial buyer’s agent:
When you enquire with a buyer’s agent about adding a commercial investment property to your portfolio, the agent first aims to understand the kind of property best suited to you. There are three main types of commercial property: retail, commercial offices, and industrial – which your buyer’s agent will recommend based on your needs.
With the information at hand, your commercial buyer’s agent searches for properties that meet your criteria. Your buyer’s agent has access to a wider range of properties from which they can make their findings, due to their well-established relationships.
Once the agent concludes their analysis and searches for properties, a comprehensive list is sent to you. The list contains a streamlined number of properties according to your budget and requirements.
You go through the list and inform your buyer’s agent which properties are best preferred. Once selections are made, the buyer’s agent arranges a time and place for you to inspect the property in person. If you are in a different state, your agent can arrange a virtual tour for you.
Asking and answering questions:
While you are taken on an inspection of the commercial properties, your buyer’s agent should be asking pertinent questions about the property.
Most times, the sellers may not be available to answer buyer’s questions and clarify areas of confusion. Your buyer’s agent should be able to carry out due diligence and highlight possible red flags with the property.
The issue of pricing is a very delicate stage of the purchase of an investment property. The agent should run some detailed analysis on what issues may affect the price and desirability of properties before bringing the client to negotiate for the property. If you ever get confused about what to offer for an investment property, you should contact a buyer’s agent. Your agent will suggest an offer based on the value of the commercial property and opportunities present.
Negotiation on Terms and Conditions:
Most commercial properties come with terms and conditions for purchase. If you are ignorant on how to go about it, you may end up with legal issues. Your buyer’s agent helps you negotiate the conditions of sale and informs you of the implication of breaking such terms.
How Do I Find a Buyer's Agent?
Credibility and reliability are two factors to look out for when you scout for a buyer’s agent in Brisbane. Revolve Commercial is known for a track record of excellent service delivery and good customer relationships.
When looking for a buyer’s agent in Brisbane or Gold Coast, always ensure that the agent is certified or holds an accredited certification. Many people have been scammed out of huge amounts of money because they contacted illegal operating buyer’s agents. There are three major ways of finding a buyer’s agent:
- Agent associations
Technology has provided us with a new and effective way of finding people and places. With the location feature on most devices, you can do a centralised search over an area to scan for available and recognised buyer’s agents.
You can also get referrals from people who have worked with commercial buyer’s agents. You can read a huge number of our success stories from clients who have used Revolve Commercial to buy commercial property in and around Brisbane.
Revolve Commercial are also the commercial property specialists for 360 Collective, giving you access to an array of wealth growth strategies that include commercial property development. Think of us as your “GO TO” outsourced property investment team.
We Are Your Specialised Investment Property Buyers Agent
The first thing to note about buying commercial properties is that it takes more than simple interest to get a good deal. You need a knowledgeable buyer’s agent with the experience to guide you safely into the right acquisition. Now you understand what a buyer’s agent is and how they help you acquire properties, ensure you contact one when you next want to buy a property.
Revolve Commercial helps clients and investors like you step into their dream lifestyle by building their commercial investment portfolio with safe, cashflow positive properties. Not only do we walk you through every step of the way, as part of our buyer’s agent clientele, you also get access to our comprehensive education, giving you the opportunity to learn in-depth along the journey.
To find out what your next steps are in your commercial journey and get a free 12-month roadmap tailored to you, all you need to do is simply answer eight simple questions!