Posted On : February 27, 2018

How to choose a buyer’s agent

Buyer’s agents are changing the way people are entering the property market.

Whether you are a first homebuyer or an experienced investor with multiple homes under your belt – the simplicity and stress-free process of hiring a buyer’s agent to help find your dream home is becoming more and more appealing to buyer’s of all levels.

When it comes to selecting a buyer’s agent that is right for you, Universal Buyers Agent director Darren Piper says there are six questions a property buyer should be asking.

How long have you been in the real estate industry?

Part of being an effective and valuable buyer’s agent is having extensive, in-depth knowledge of the property industry. Theywill use their knowledge of the industry to help you make the best decisions when it comes to purchasing a property.

How well do you know the local area?

A buyer’s agent should havean intimate understanding of property trends in each suburb, and know all the ins and outs of council regulations, possible plans for redevelopment and median house prices.

Look for a buyer’s agent with expert knowledge of their local market, Darren says.

“A buyer’s agent should be able to tell you with confidence which streets are the best within a suburb, and which streets you should avoid,” he says.

“They should also be switched on to any future developments that could impact your purchase.”

Darren says it is also important to keep in mind that each capital city in Australia will be in different stages of the property cycles and will have multiple property markets.

“Whether you are buying a property locally or interstate, it is worth usingan expert that knows the local market.”

Will I get bang for my buck?

This is probably one of the most important questions. Purchasing a property can be a very expensive process, with many unexpected costs arising along the way. So you want to make sure any money you are forking out is going to be worth it.

A buyer’s agent should not only save you countless hours of scrolling through real estate websites, they will also save you stress, and more importantly, money.

“From paying too much for a home, overlooking extra expenses associated with inspections and approvals, as well as costs that may pop up in the future, such as body corporate fees, council rates and insurance, the figures can stack up and leave a buyer in financial turmoil,” Darren says.

“Investing in a buyer’s agent saves a first-home buyer, or even a more seasoned property investor, not only stress but also a significant amount of money.”

A buyer’s agent should also be an expert negotiator and use their comprehensive knowledge of the property market to negotiate the lowest possible price for the buyer’s ideal home.

Check online testimonials to see if your agent has satisfied other buyer’s.

Who do you know?

The age-old saying ‘it’s not what you know, it’s who you know’ couldn’t be more apt in the real estate industry.

According to Darren, a top-notch buyer’s agent shouldhave an extensive list of contacts built up over time – including real estate agents, other investors, business owners and associations, as well as building and pest inspectors, mortgage brokers and conveyancers.

“This means they are often presented with off-the-market opportunities, which opens up your possibilities and maximises your ability to grow your investment property portfolio, or find the perfect home for your family,” he says.

How do you do your research?

Darren says you should be confident that a buyer’s agent will know how to research how much to pay for your property?

“Ask them what criteria they use to assess properties, how they compile market data and how they conduct research,” he suggests.

What are your industry credentials and can you buy interstate?

Every state and territory in Australia has different licensing requirements for buying property, so its important to make sure the agency you select holds a real estate qualification for the state that you’ll be buying property in.

To learn more about the benefits of a buyer’s agent, visit www.universalbuyersagents.com.au.

About Universal Buyers Agents

Australian-owned and operated, Universal Buyers Agents is made up of an experienced and passionate team driven to ensure your future is secured financially by investing in blue chip localities. To us, it’s not about the transaction today but rather, the ten into the future.

The Universal brand was born as a result of increasing market demand for a service that was not only comprehensive but served the buyer, not the seller. In today’s fast paced industry and market competitiveness, making a mistake has increased tenfold, so don’t make one. Working with Universal Buyers Agents takes the pressure, risk, and stress off the purchase so we can focus on uncovering and buying the right property, at the right price, every time. Whether you’re looking for your first property, a development opportunity, commercial or industrial sites, land and house packages, or investments, we can advise, support, manage, or consult on a level that suits or is required.