Author: The benefits of a buyers agentIf you are in the market to purchase property, you’d be well advised to consider hiring a buyer’s agent.
Just as you would expect a selling agent to represent your interests when selling, a buyer’s agent will act with the same level of professionalism in helping the buyer achieve their goals.
What to look for?
There are several characteristics that you should look for when selecting a buyer’s agent but the three key areas include communication, expertise and negotiation skills.
First up, a good buyer’s agent should be an excellent communicator.
They should take the time to fully understand your needs and budget when selecting an investment or your next home and prepare a brief relative to these requirements. This means that the buyer’s agent has a good working knowledge of your expectations and should be able to deliver.
Conversely, if your expectations are unrealistic, a good agent should be able to explain this effectively and politely to set you on the right path.
They should also possess the expertise and knowledge required to conduct specific research that may affect the purchase of the property and any other relevant items that are important to you the buyer.
For example, development potential, re-zoning and major planning projects in the property’s locality that may impact on value over time. If schools are important they should know which schools are available to your needs.
Demonstrated negotiation ability is extremely important. The buyer’s agent should be able to negotiate the deal on your behalf, including the contract and settlement terms, as well as ensuring you are paying a fair price for the purchase.
How much does this service cost?
As with any professional, a buyer’s agent will charge a fee for their service which may be fixed or a percentage of the purchase price of the property. In either case you should ensure this is discussed and agreed to at the start of the process.
Remember, sales agents can offer great value and information when purchasing a property but they are legally obliged to work in the seller’s best interest.
On the other hand, a buyer’s agent is working for you and can save you lots of time while helping you find the property you really want.