Choose your Buyer’s Agent with care
Choose your Buyers Agent with care
Choose your Buyer’s Agent with care
A great buyer’s agent can navigate a property buyer through the challenges of the real estate market and deliver a great outcome on budget and on time.
If you are not paying your own buyers agent, then buyers need to be aware of potential conflicts of interest and fee structures that can provide incentives for agents to bid up the sale price rather than keep it down. Industry veterans warn would-be clients to pick their adviser with all the care that they apply in choosing a lawyer or doctor by asking questions about their qualifications, experience and specialist skills.”
After over 25 years in real estate, I couldn’t agree more. I recommend that buyers carefully check the credentials of their prospective representative.
Rules of Appointing Your Buyer’s Agent
Fees-You need to pay fees for independent professional advice. If someone is prepared to work for you for free, they have another motive.
Services- What will the agent do for their fees?
Qualifications- What qualifications have they got, where did they get them and how long did it take. The short course that people can buy which will allow them to get licensed, is not comprehensive and so if it took less than a month to obtain the Cert IV in real estate, the agent did the short course.
Memberships – They should be Real Estate Buyers Agent Association of Australia ( REBAA) members, members of the state based REI, in my case the REIV.
Protection – Current professional indemnity insurance.
Experience – Your agent should focus the bulk of their energy in buying property at least 46 weeks a year or they may not be up to date with market conditions and selling methods. Also ask, how many years have they been a specialist Buyers Agent?
Ongoing Education- up to date continuing professional development education stay relevant and informed.
Track Record – check testimonials, speak to past clients and only those who had a similar task to the one you are setting.
Specialist Skills -If you are a home buyer, you need a home buying agent. When investing, it may involve a different skill set.
The solution is out there. Consider all of the rules above when appointing your Buyers Agent.
For more up to date information on what’s happening in real estate in Melbourne, contact Janet at jspencer@buyersolutions.com.au or 0418 101 146.
Buying property, First home buyers, Investment, Investment property, Overseas Buyers, Real Estate News & Opinion, Selection a Buyers Agent
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