Top Five Essential Things To Know About Buyer’s Agents

Do you need a buyer’s agent? Should you invest time and money in hiring one? How do you determine the suitability of a real estate agent that exclusively serves your best interests in property transactions? When you are about ready to finally buy a house, you may come across the term “buyer’s agent.” And quite often you may hear that this real estate professional’s significance in every property purchase is not something you should very lightly disregard.

To help answer some of the questions you may have and finally settle your views about the need for buyer's agents, here are the five essential things you should know.

1. Buyer’s agents have access to multiple property resources. This means you get more variety and more choices when it comes to houses or units that are for sale. When you hire a buyer’s agent, you are not limited by properties advertised and marketed on newspapers and real estate websites. You have the opportunity to explore properties that are up for auction. You can also find out about silent sales, which offer properties from the owners or estate agents that are not announced to the public. With more sources for properties in the market, you are likely to find the ideal house you are looking for in as little time (and less money spent) as possible.

2. A buyer’s agent will have solid experience that can prevent you from getting the wrong information about certain houses or units and save you from making an offer on overpriced properties. Buying a house is one of the most significant investments you can make so you want to make sure that you are getting your money’s worth. And relying on the industry knowledge and experience of your buyer’s agent allows you to achieve just that.

3. A buyer’s agent has negotiating skills that will give you leverage once you make that offer on a house or unit. By having a skillful professional represent you during negotiations and by taking out the element of an emotional purchase, you might secure a property at a price that is agreeable to you.

4. Your buyer’s agent should be a member of an industry association. This will ensure that your agent performs and adheres to a professional standard. In Australia, there is the Property Buyer’s Agents Association of Australia and the Real Estate Institute of NSW.

5. The buyer’s agent should have a good track record in buying properties, particularly in locations you want. Ideally, your buyer’s agent will have facilitated at least 10 recent property purchases in areas you are considering. You can verify this by looking up credible client testimonials. The website of the buyer’s agent should also be able to provide information on recent purchases it has made on behalf of clients.