It’s no secret that looking for the right property takes a lot of time and effort.
Searching the internet, setting up inspections and driving around to view properties every week can definitely take a toll on anyone.
Have you ever thought: I wish someone could help me out? Someone who does this every day and has the experience and knowledge to make the best choice?
Well, that person is known as a buyer’s agent.
A buyer’s agent can make a big difference in finding the perfect property for people like you.
However, there are a lot of Buyer’s Agents in the market, and with that comes a range of options offering different levels of service and expertise.
So, it’s very important for buyers to educate themselves regarding these agents and their responsibilities so you have the right Buyer’s Agent working for you.
Let us help you identify the necessary qualities of a buyer’s agent, so you can choose someone you can trust.
What is a Buyer’s Agent?
A buyer’s agent, also called a buyer’s advocate, is a real estate professional who helps buyers like you find an ideal property at the best possible price.
Acting on your behalf, a buyer’s agent must be equipped with the essential real estate license, knowledge and negotiation skills to represent your interest as a property investor.
A Buyer’s Agent is opposite to a Real Estate Agent.
While a Buyer’s Agent is acting on the best interests of the buyer, a Real Estate or Sales Agent works on behalf of the seller.
What does a Buyer’s Agent do?
The buyer’s agent aims to make your property buying process easy.
They eliminate the stress and hassle of the real estate transaction for you while helping you make more informed decisions.
How exactly does a buyer’s agent do that?
Here are the services a quality buyer’s agent provides:
- Search properties in areas with strong growth potential.
A buyer’s agent scouts for properties with your given criteria in mind. With their expertise and experience, this person uses their knowledge to find ideal investments with a lot of potential for return.
- Perform inspection of properties.
Saving you lots of time, a buyer’s agent attends multiple property inspections and Open Homes on behalf of buyers like you.
They also use their professional insights and objective view to assess each home’s suitability and report back to you.
A buyer’s agent who has a wide network may even give you access to off-the-market properties – allowing you to access properties before they’re advertised for sale to the public.
- Participate in auction bidding.
Smart auction bidding requires tactics, knowledge, experience and good negotiation skills. Having a professional buyer’s agent do it for you will give you a much better chance of securing a property at the best possible price.
- Ask the right questions and get the necessary information.
You can’t ask what you don’t know.
A buyer’s agent, on the other hand, will know what questions to ask and how to get the correct information when dealing with real estate agents. This will ensure you know the necessary information to make an investment decision.
Now that you know more about what a buyer’s agent does and the benefits they offer you, the next step it to pick the right one for you.
Not all buyer’s agents are the same.
Many buyer’s agents who claim that they are expert agents can, unfortunately, lack the experience and the qualifications to represent buyers like you.
If you aren’t careful, you may hire a buyer’s agents who isn’t searching the right properties for your circumstances and leading you towards making less than ideal decisions.
Therefore, you must evaluate your buyer’s agent well.
To help you, here are 6 important questions to ask your buyer’s agent.
1) Are you fully licensed?
Each state and territory in Australia has different real estate licensing requirements. It’s important, then, for your buyer’s agent to be licensed in the areas where you’re looking at property.
2) Are you a member of any peak industry body for real estate agents and property professionals?
Being an approved member of an industry body will ensure that the buyer’s agent is bound by a Constitution and accountable to a professional code of conduct.
3) Is your buyer’s agent also a property investor or just a salesperson?
Asking this question will steer you away from a buyer’s agent with a conflict of interest. An exclusive buyer’s agent will act solely on your behalf and will not prompt you to buy one of their investments from a partnered builder offering them an incentive to sell.
4) Will your buyer’s agent actually inspect the property?
Make it clear that inspecting the property in-person is necessary.
Simply checking an investment on the internet may not guarantee you the best results. Plus, you could do this without a Buyer’s Agent.
5) Does your buyer’s agent have a track record backed up by client testimonials?
Having insights and case studies from previous clients will let you know if your buyer’s agent has completed successful transactions before. You could ask for a credible references.
6) What services does your buyer’s agent offer?
Is your buyer’s agent offering you a full property search? Or are they just doing the auction bidding for you?
Whether you need just one service or you require everything from initial searches to purchase, Worth Property Investing can help.
Worth Property Investing is a boutique buyer’s agency that represents the interests of buyers like you. From a full property search, to negotiation and bidding, Worth Property Investing promises to aid investors like you with full guidance and support.
How can Worth Property Investing help you buy an investment property?
At Worth Property Investing, we partner with you throughout your investment journey.
Led by Simon Read, we are passionate about building a strategically sound and highly diversified property portfolio which can help you fulfil your dreams.
As your trusted licensed property buyer’s agents, our experienced team guides and supports your property investing education, so you can achieve your property goals sooner.
Worth Property Investing can help you find the right property to meet all your requirements when considering your next purchase. We use real facts, due diligence and solid research to locate the right investments, and we have a proven track record to help you succeed.
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