Let's face it, a buyer's agent is not an inexpensive service and you want to get the best value for the money you are spending. I wanted to share with you a few tips so that you can get the best out of your buyer's agent and be delighted with the service you receive.
Buyers' agents are a relatively new concept in Australia, with the first buyers' agents setting up in around 1997 and then a major influx from 2010. Many people are using a buyer's agent for the very first time, and they want to know how to get the best out of their agent. A buyer’s agent is even more effective in helping you with your property purchase if you know what to expect from them and how best to work with them.
Understand what you need and let your buyer's agent know
Buyer’s agents work with a wide range of clients, such as home buyers, investors and commercial real estate purchasers. Each client is unique and has their own needs, for example around budget, location, property type, time-frame for their purchase and so on. A skilled and dedicated buyer's agent will work hard to ascertain each client's needs, and these should be documented and recorded, with the client and buyer's agent having a copy of these recorded wishes.
If you are uncertain about what you are after, your buyer's agent should provide you with information and time so that you can consider your options as they relate to your needs. You can then decide your goals and the property types you want your agent to pursue for you.
Understand and work within your budget
Your buyer’s agent is an expert in sourcing and assessing real estate, and understanding and negotiating with real estate sales agents. However, a buyer's agent cannot provide financial or legal advice to clients. A buyer's agent can help you to understand the types of properties and locations that will suit your budget and your needs, however they cannot stretch your budget or force vendors to sell their properties for less than what they are willing to sell for. The role of the buyer's agent is to help clients understand and work within their budget.
Clients can ensure they know how much they can afford to spend, what monthly repayments they can manage and their appetite for risk / return. Melissa Maimann Buyer's Agent works with skilled and committed financial planners, property lawyers and finance brokers to assist our clients with these decisions.
Become involved
At the end of the day, you are paying your agent to do the hard work for you. That is searching, inspecting, reporting on properties, liaising with your finance broker, conveyancer and sales agents, and helping you to make sage decisions about your purchase. A buyer’s agent presents you with a range of options, ensuring that you are comfortable with your decisions and keeping emotion out of the negotiation process. Open and communicative clients are a great match for a buyer's agent's services.