With so many investors and home purchasers finding themselves with limited research resources and pressed for time, it is becoming increasingly popular to employ the services of a Buyers’ Agent to assist in the acquisition of a property. While this will save you time and effort, the often asked question is: how do you select the right person for the job? 

Just as you would expect a Selling Agent to represent your interests when selling, a Buyers’ Agent will act with the same level of professionalism in helping the buyer achieve their goals. There are several characteristics that you should look for when selecting a Buyers’ Agent but three key areas – namely communication, expertise and negotiation skills – should be at the top of your list. 

First up, a good Buyers’ Agent should be an excellent communicator. It is important they take as much time as required to fully appreciate your budget, needs and goals, when selecting your next investment property or home, and prepare a written brief of these requirements.. This ensures the Buyers’ Agent has a document detailing your expectations and therefore makes it more likely that they can meet your expectations accordingly. Conversely, if your expectations are unrealistic, a good Buyers’ Agent should be able to communicate this effectively and politely and set you on the right path. 

A good Buyers’ Agent should possess the expertise and knowledge in order to conduct specific research that may affect the purchase of the property and any other relevant items that are important to you the buyer. For example, development potential, re-zoning and major planning projects in the property’s locality can significantly impact on its value over time. If schools are important, they should know which schools are in close proximity. 

Demonstrated negotiation ability is also an extremely important skill that a good Buyers’ Agent should have developed. The Buyers’ Agent should be able to negotiate the deal on your behalf with the seller, including negotiating the contract and settlement terms, as well as ensuring you are paying a fair price for the property. 

Buyers’ Agents, as with any professional, will charge a fee for their service which may be fixed or a percentage of the purchase price of the property. In either case you should ensure this is agreed and discussed from the start of the process. 

Remember, sales agents can offer great value and information when purchasing a property, however they are engaged by the seller and are legally obliged to work in the sellers’ best interest. As a Buyer’s Agent is working for the buyer, they really can save you so much time, and ensure that they help you stay true to the kind of property you set out to find. 

To find your nearest Buyer’s and Real Estate Agent in Western Australia, please contact REIWA.com.au

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Filed under: Benefits of Home Ownership

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