Buyers agents – time to call in the experts?
If you’re feeling outgunned taking on the property market single handed, it could be time to call in the cavalry – enter the buyer’s agent.
A representative, a manager, a partner, mediator, mentor, negotiator or go-between… whichever title you want to give a buyer’s agent, they have one clear focus – you.
Unlike a real estate agent, a buyer’s agent’s sole role is to represent the buyer throughout a real estate transaction, and this can be a big help for property market newbies as well as seasoned investors.
The services a buyer’s agent can offer vary and will depend on the type of service you need or are willing to pay for.
A full service will include everything from searching the market for properties based on your established criteria, shortlisting properties for you to view, and negotiating on sale terms on your behalf.
It’s also usually possible to recruit an agent to simply bid at auction or negotiate on your behalf, or even help you out on an hourly basis if there’s something you need advice on.
Another advantage is that a buyer’s agent will usually have good connections within the property market and may be able to access properties before they come onto the market.
Put simply, a buyer’s agent can do the hard work for you.
When it comes to selecting a buyer’s agent to help you in your home buying process it pays to do your homework to ensure not only quality service, but also to make sure you find an agent you feel comfortable with.
Look for an agent who is a member of the REBAA; a list of accredited agencies can be found on the association’s website www.rebaa.com.au.
Also be sure to employ an agent who is truly independent and not a seller’s agent as well, or who operates based on sales commissions.
It’s not always easy to know if a buyer’s agent is receiving any cuts or commissions for their sales but the best method is to look for an agent with a strong track record. Ask to see testimonials or ask around friends and family for any recommendations.