Choosing the right buyer’s agents (also know as a buyer’s advocate) to help with purchasing property may seem overwhelming, particularly when faced with so many great specialists out in the marketplace. However, armed with the right information, selecting a buyer’s agent need not be impossible.
Here’s our handy tips on what to consider when choosing a buyer’s agent to represent your best interests.
Start with location
If you already have a location in mind for where you’re looking to buy, make sure that the buyer’s agent that you’re working with is comfortable with coverage of this area. You might like to start by searching for buyer’s agents that are local to this area, as it’s likely they’ll already have established many relationships with key contacts.
Keep in mind, however, that physical distance is not necessarily a barrier for selection as there are many buyer’s agents that successfully work remotely.
At the end of the day, you want to make sure that the buyer’s agent you’re working with has in-depth knowledge of the locations you’re looking to buy in and the relationships to go with that.
Start by using the Buyer’s Agent Institute Directory to search by location and looking at the listing pages of agents to see what locations they specialise in. Too easy!
What type of property are you looking to buy?
Not all property is the same. The way that you buy residential property can be very different to the way that you go about finding and negotiating commercial premises. Make sure that the buyer’s agent you choose to work with has experience and knowledge in buying the type of property you’re looking to acquire. That way you’re likely to get the best possible outcome.
You can search by property type using the Buyer’s Agent Institute Directory to find agents that specialise in:
- Residential property
- Primary residence
- Investment property
- Development sites
- Commercial property
- Industrial property
Reputation means everything
When weighing up options for a product or service, reviews and word of mouth can be critical for helping us to decide which direction to move in.
Do research online
When researching a buyer’s agent make sure to look at their online presence to see what past or existing clients have to say about their service. This can be crucial for identifying any potential red flags.
Speak with past clients
Ask to not only speak with clients that were a success, but to also to speak with a client that didn’t go to plan. There should always be a client experience that was not so smooth.
Speak with real estate agents
You can do your research on a buyer’s agent by asking real estate agents in the local area you are looking to buy. You can ask what their experience has been working with the buyer’s agent you may be considering. Getting feedback from real estate agents can give you a deeper level of insight of how a particular buyer’s agent operates.
Listen out for referrals
Even better is if a family member, friend or work colleague is able to make a direct recommendation to you. At the end of the day, you want to feel secure that the buyer’s agent you choose is committed to a high level of service and to delivering client outcomes. They’ll also want to ensure that you pass on the recommendations at the end of your buying journey.
The Buyer’s Agent Institute Directory has taken out some of the hard work by consolidating online reviews for each buyer’s agent on individual agent listing pages.
Make sure the price is right
Price can be a major factor when buying property. There’s no doubt that using a buyer’s agent has its benefits. Working to a budget means that it’s important to find a buyer’s agent that meets your financial requirements. It’s up to you to do your research and find an agent with a fee structure that you’re comfortable with. You may even be able to negotiate based on a number of factors including the services provided. Maybe you only need the buyer’s agent to assist with certain parts of the buying process, as opposed to a full service offering.
Be upfront with your buyer’s agent and it’s likely you’ll be able to reach a mutually beneficial outcome suited to your needs.
Trust your gut
Ultimately, you need to feel confident and you need to feel good about the buyer’s agent that you’re working with. Nothing beats picking up the phone or having a coffee face to face with a prospective agent to get a sense for how you communicate and interact with each other.
If you don’t get a good feeling in your interactions, move on. There’s plenty of buyer’s agents out there that would love the opportunity to provide you great service and secure your dream property.
Finding a buyer’s agent
Now that you know some criteria to consider when choosing a buyer’s agent, you can go about finding one. Use our Agent Directory to find the right buyer’s agent for you.