Investing in Perth: Why use a Buyers Agent?

At D Residential, we help property investors by managing their property and tenants, but we often find ourselves part of the purchasing journey as well. 

It’s no secret that Perth property is in demand right now, with our city constantly in the headlines as the nation’s fastest-growing capital. If you live interstate or overseas, you have probably realised that there is a great opportunity to secure a cost-effective investment property with capital growth potential and no shortage of quality tenants.  

To make a smart purchase without travelling to Perth to view properties in person, many investors hire buyer’s agents. But how can a buyer's agent help you? We interviewed Perth-based buyer’s agent Ray Chua to get a more in depth understanding. 

What is a buyer’s agent?

A buyer's agent is a qualified real estate professional (either licensed or working under a licensee), who is engaged to act on a property buyer’s behalf. 

Real estate agents have a duty of care to a buyer but their loyalty is to the seller. A buyer's agent works exclusively for the buyer and represents their best interests. 

Hiring a buyer’s agent provides you with professional guidance to navigate the tricky process of finding the right investment property or home. Using their insight into the market they assist you in finalising your offer increasing your chance of being a successful bidder.  Your Perth buyer’s agent can work with you to bid at auction or negotiate via private treaty. If you’re not from the area, they can view the property on your behalf assessing the properties qualities and ensuring any concerns are disclosed to yourself.

How is a buyer’s agent different from a property manager?

Perth buyer’s agent Ray explains while buyer’s agents and property managers work under the same qualifications, their roles and functions are quite different.

“Property managers are more focused on assessing the rental value of a property, advising how to maximise the asset value, overseeing tenant selection and taking care of problems that may arise on behalf of a property investor."

“Your buyer’s agent’s skills are more focused on understanding the local market dynamics. If you’re a home buyer, you can get the best home within your budget with confidence because your buyer’s agent has ensured it meets your personal needs and stands as a great asset to own. 

When a buyer’s agent works for a property investor, it’s about understanding what type of property would suit the buyer holistically and facilitating the best chance of experiencing capital growth and consistent rental income.”

Why you need a buyer’s agent if you don’t live in Perth

When you’re an out-of-town buyer, you don’t know what you don’t know. Like any city, different parts of Perth have different appeal and drawbacks. You not only need to get the right deal, you need to purchase in a location that suits your tenants’ needs. For example, a student-friendly apartment should be close to train or bus stops, or walking distance from the local university campus. 

Liaising with real estate agents might help you find a place, but remember that they are pushing for the best outcome for their owners. 

A buyer’s agent can bring detailed market understanding to the table. As Ray explains, “It takes local understanding to determine the factors that go into selecting the right property for any given suburb. Your buyer’s agent knows what people want.” 

Buy a Perth investment property without the stress

According to Ray, “Property investment is like a team sport, and you need to surround yourself with the right team members to win the game.”

Before you invest in Perth, take the time to build a team of specialists to support you in your purchase. You’ll have financial advisors like your accountant, financial planner and mortgage broker. Then you need experts to help you lock in the right place and maximise long-term returns. A buyer’s agent and property manager will fill these roles. 

Looking to invest in the Perth property market and need a buyer's agent? Reach out, we have the best network of specialists to help you navigate the Perth market. 

Need a quality property manager once you have made your purchase? D Residential is ready and waiting to help.