The Ultimate Advantage: Top Benefits of Using a Buyer’s Agent in Adelaide
In 2024, Adelaide’s property market has continued its impressive growth, with a recorded annual dwelling growth of +15.4%, according to the NAB. Adelaide, alongside Perth and Brisbane, remains one of the standout markets in Australia, with prices reaching new record levels. June alone saw a further increase of +1.7% in dwelling prices, contributing to a remarkable +4.7% rise over the last quarter.
This surge in property values is largely driven by a persistent imbalance between supply and demand. In areas like Unley Park, where approximately 655 dwellings exist, only 6 properties were listed for sale as of December 12, 2023. Similarly, Norwood, with around 3,500 dwellings, had just 34 properties on the market. With such limited supply, securing your dream property within budget can be a challenging endeavour.
While buyer’s agents have been gaining popularity in major cities like Sydney and Brisbane, and interstate buyers have increasingly relied on them to purchase property in Adelaide, the concept of a local buyer’s agent is still relatively new in the city.
Benefits of a Buyer’s Agent in a Competitive Market
In a highly competitive market like Adelaide’s, homebuyers may find themselves at a disadvantage when navigating the open market. A buyer’s agent can provide invaluable assistance in various ways, depending on your specific needs. Some of the key benefits include:
- Access to Off-Market Properties: Buyer’s agents can offer access to off-market properties, giving buyers the opportunity to secure homes before they are publicly listed.
- Time-Efficient Purchasing: If you’re in a time-sensitive situation, such as having sold your current property without securing a new one, a buyer’s agent can expedite the purchasing process. Their industry connections often grant access to properties not yet on the market, and they excel in negotiating with real estate agents.
- Expert Negotiation: Buyer’s agents are skilled in real estate negotiations, aiming to avoid bidding wars and offering candid advice on whether a property represents good value.
The role of a buyer’s agent is adaptable to your needs, whether it’s sourcing properties that are off-market, pre-market, on-market, or post-market, conducting negotiations on your behalf, or bidding at auctions.
What to Look for in an Adelaide Buyer’s Agent
At a minimum, a buyer’s agent must be a licensed real estate professional. In South Australia, licenses are regulated by the state government, so it’s essential to verify that your buyer’s agent holds a current license. Our team are licensed real estate agents with accreditations with Industry bodies such as REEBA, PIPA and the MFAA.
Given that buyer’s agents are a relatively new concept in Adelaide, it’s important to consider the experience of both the agent and the agency. For instance, Adelaide Buyers Agents have been instrumental in helping clients navigate the local market, with extensive experience and a commitment to securing the right property at the right price.
How Much Does a Buyer’s Agent in Adelaide Cost?
A reputable buyer’s agent will be upfront about their fees. Costs can vary depending on the service provided. For example, if you need an agent to negotiate on your behalf at an auction for a property you’ve already identified, the fee will typically be a fixed amount. For a full-service search and negotiation, fees are usually success-based and calculated as a percentage of the property’s purchase price, though flat fees may apply for other services such as completely digital.
How to Get Started with a Buyer’s Agent
Before reaching out to a buyer’s agent, it’s helpful to clarify your property brief. Consider factors such as:
- The type of property you’re seeking (e.g., house, terrace, apartment).
- Specific requirements like the number of bedrooms, bathrooms, car spaces, or gardens.
- The property’s condition, whether you’re open to renovations or looking for a knock-down opportunity.
- Proximity to key areas, such as schools, workplaces, or public transport.
- Your budget.
A buyer’s agent can assist in refining your brief and ensuring it aligns with your budget. If you’d like to discuss your brief further, contact Adelaide Buyers Agents for a free consultation.
