How To Choose A Great Buyer’s Agent
Buyers agents are licensed property professionals that represent investors, home buyers and developers in purchasing their properties.
A buyers agent works exclusively for the buyer, whereas the selling agent works for and is obliged to get the best deal for the seller. Typically a Melbourne buyers agent will be used to buy properties in Melbourne.
The advantages of professional buyers agent:
- Buyers agents will save you time, money and stress by helping to buy property for the best price under the best terms.
- Buyers agents will research, negotiate and acquire the property on your behalf, hassle free for you.
- They will help you make an informed decision by assessing the market value of recommended properties without any of the “hype” a sales agent is likely to generate.
- They will locate suitable properties in a timely manner, saving you money.
- Source the right investment property in the right location, which will outperform the market averages.
- Buyers Agents represent the investor, not the seller, developer or project marketer. They help investors build their property portfolio faster and safer.
- They act in a confidential and professional capacity.
- Buyers agents do not become emotionally involved in the auction or negotiation process. This ensures you don’t pay too much due to common emotional traps.
But beware… not all buyers agents are the same. Choosing the wrong Melbourne buyers agent for your investment property could cost you tens of thousands of dollars!
Questions to ask a potential buyers agent:
- Are they a fully licensed real estate agent?
Be wary of hiring someone who doesn’t hold a Victorian real estate license and hasn’t had years of experience in the property industry. There are people out there calling themselves a buyers agent who are not actually licensed estate agents. It can be tempting to hire a particular buyers agent solely based on their fees. If they provided great service and real added value to their clients, they wouldn’t have to win clients by offering low fees. Their reputation and recommendations should speak for themselves. Don’t risk putting what could be one of the largest purchases in your life in the hands of somebody who hasn’t had the years of experience necessary to investigate and negotiate on your behalf.
- Are they a member of the State Real Estate Institute?
This should give you the reassurance that they are operating to professional industry standards.
- Do they have current professional indemnity insurance?
If something goes wrong with your property purchase you will have absolutely no recourse if this is not the case.
- Are they a dedicated buyers agent?
Make sure they are not just a division of a real estate agency or a one man band working from home or out of a post office box. They can’t possibly offer a high standard of service when searching and negotiating for properties for their clients unless they are a dedicated professional focused solely on this process without any conflicts of interest.
- Do they specialise in the the price range and geographic location you are looking at?
If the buyers agent doesn’t have a strong recent track record of buying in the area you are looking at purchasing in, we suggest you don’t engage their services. Don’t be shy to ask them for at least 4 recent property purchases in the area you are looking at buying in.
- Do they specialise in home buying or property investment?
Buying investment properties requires certain expertise and strategies to maximize the capital growth of your property. Most buyers agents don’t specialise or even understand property investment. If you are an investor, ensure your buyers agent has experience in purchasing property investments and a proven track record. If you are buying your next home make sure your buyers agent fully understands your needs and your geographic territory.
- Can they provide a reputable team of professionals to help me make a more informed investment decision?
Do they have a proven team of solicitors, accountants, property managers, builders and pest inspectors to ensure you buy the right properties and maximize your investment returns?
- Does their buyers agent have access to “silent sales”?
At Metropole Melbourne Buyers Agents, many of the properties we purchase never hit the public market. It is imperative that your buyers agent has years of personal relationships with all the real estate agents in the area you are looking at purchasing in, so as soon as properties come up for sale you have access to them before they go to the general public. Most of these properties are sold before they ever get advertised to general public.
Metropole – your Melbourne buyers agent
Call us today on 03 9591 8888 to find out how we can help you buy your new Melbourne home or a top performing Melbourne investment property or please complete this form here.