Recent years have seen a big rise in the number of Buyers Agents. There is now more choice than ever, and like all professions some Buyers Agents are simply just better than others. So how do you choose your Buyers Agent? Here are some tips that will help you decide how to choose a Buyers Agent.
Ask For A Recommendation
Ask friends, family and colleagues if they have used a Buyers Agent. If not, do they know anyone who has, and if they were happy with the result? A personal recommendation is of great assistance to point you in the right direction, especially if it comes from someone you know well and trust. There are many Buyers Agents out there, and this will help you to narrow down your choice.
Look For a Buyers Agent With Many Years Experience
You are seeking to engage a professional because of their expertise, so it’s important to establish that your Buyers Agent actually has extensive industry experience. Recent years have seen many Buyers Agents new to the industry are often not as experienced as they make out. Make sure you ask the appropriate questions during the selection process.
Look For A Buyers Agent With Plenty Of Experience In Your Local Area
Your Buyers Agent should have experience purchasing properties in your local area and know it well. Ask about recent purchases he/she has made, look at references and you can even ask to speak to a recent client for some first hand feedback.
Does The Buyers Agent Have Extensive Contacts In The Industry?
A well established Buyers Agent will have deep connections in the industry. These open doors and access to off market properties and enable early viewing of new listings ahead of the market. Ask about industry contacts and how they will be used to your advantage.
A quality buyers agent will also be able to put you in touch with reputable professionals to assist such as conveyancers and building inspectors.
Will You Be Getting Access To The Most Recent Market Data & Up To Date Pricing?
Your Buyers Agent needs to have access to the very latest and most up to date market pricing data. Ask what databases are used and what type of information you will be able to access.
How Are Fees Determined?
Seek to employ a Buyers Agent that charges a fixed rate based on your purchasing criteria, rather than a % of the actual purchase price. That way there are no surprises and you are clear up front what the costs will be.
It’s important that your Buyers Agent is fully licensed and insured. Ask for the details when you are interviewing your Buyers Agent. Most buyers agents hold a full Real Estate Licence with NSW Department of Fair Trading, while some hold a lesser Buyers Agent Licence.
Check that your prospective buyers agent is a member of REBAA (Real Estate Buyers Agent Association of Australia). REBAA is Australia’s only national professional association for Buyer’s Agents. In order to become a member, agents must go through a stringent process. Once an agent is a member, they are requireed to adhere to a strict code of conduct.
And Finally Sometimes It Just Boils Down To Personality!
You will be spending many hours with your Buyers Agent during your property purchase. It’s important that you get on! In reality there will be more than one Buyers Agent that will do a great job finding your property – so do your research and then choose one you have a good rapport with.