Four inquiries to ask a buyer’s agent

Have you ever utilized a buyer’s agent to negotiate a property acquire? Is it some thing you may possibly think about? (Click here to find out what a buyer’s agent does). If speaking with a buyer’s agent is on your agenda, the Genuine Estate Purchasers Agents Association of Australia (REBAA) suggests that you ask the following inquiries:

1. What is their expertise in the geographic area you are contemplating?

They say that nearby information is invaluable, so you need to have to guarantee that your buyer’s agent has a good information of the neighbourhood in which you are wanting to get. Ask what and where their most recent purchases have been.

2. Do they operate as an exclusive buyer’s agent?

In other words, are they operating for and getting paid by you and no-1 else?  “Some agents calling themselves ‘buyers’ agents’ have actually been taking a fee from a selling agent’s commission, yet claiming to function for the purchaser,”

mentioned REBAA president Jacque Parker. ““This is a clear conflict of interest since properly they are representing the vendor, they’re not acting solely on behalf of the purchaser.”

3. Are they a licensed buyer’s agent?

Usually an agency can be licensed in a single state but not the other and still advertise that they act for purchasers of home interstate. Each state and territory in Australia has distinct licensing specifications.  Check whether or not they are REBAA accredited.

4. Can they supply current client testimonials/references?

Usually ask to speak to earlier consumers, just as you would speak to a referee for a job interview. This process can help alleviate any concerns you could have about your potential agent.

Want some a lot more guidelines? Study our interview with Market Analyst and Buyer’s Agent, Simon Pressley, right here.

Four inquiries to ask a buyer’s agent