There are many good reasons to use a property buyers’ agent. A buyers’ agent works exclusively for the buyer, whereas the selling agent works for the vendor (seller). Real estate is a major investment, yet many people purchase property without any professional assistance.
By using a buyers’ agent you will be getting expert guidance to help you buy the best available property at the best possible price. It will also create a level playing field as the vendors are usually represented by a selling agent, and we know how to handle them and interpret their strategies because many of us started out in real estate as selling agents.
Most people seek the advice of an expert when they invest. Look at shares and managed funds, for example. Why should property be any different? The analysis, access to performance data, and negotiation expertise that a buyers’ agent can bring can have a huge impact on the success of the transaction.
Questions to ask when choosing your selling agent
Not all buyers’ agents are equal, so we want to encourage you to investigate getting expert help. The first port of call is to look for property buying agents who are accredited members of the respected national body – Real Estate Buyers Agents Association of Australia (http://www.rebaa.com.au).
Of course we would love it if you simply shortlist Good Deeds Property Buyers! But since we also advocate doing your homework, we have come up with two questionnaires that will help you sort out the wheat from the chaff. One is for interviewing prospective buying agents, and the second is for reference checking them with past clients.
Questionnaire 1: Questions to ask when interviewing potential buyers agents
Questionnaire 2: Questions to ask past clients of real estate buying agents
The first thing we need to do is get the buyer agency agreement sorted out, and complete our property brief form (if you are retaining Good Deeds Property Buyers to conduct your property search), and you will need to pay an engagement fee.
Then we start the property search and keep you posted on progress until we find a suitable prospect and commence due diligence. We will then see the purchase through to completion (unless we discover something that causes us to warn you off it!). This is our Comprehensive Search Service.
If you have already found a property that you would like to buy, you can also engage us to evaluate and negotiate on your behalf. This is our Individual Property Evaluation and Negotiation Service
You will start by signing a buyer agency agreement and paying an evaluation fee.
Then we will inspect the property, conduct our pricing research and develop a purchasing strategy. If you are keen to proceed after receiving this information, we will continue the due diligence and complete the negotiation process, including bidding at auction if appropriate.
For more information on all our Search Services, click on this link.
Many of our clients do enjoy inspecting properties for themselves, and we understand that! We offer an Individual Property Evaluation and Negotiation Service or a Limited Search Service for these clients.
It’s a common misconception that the only people who use buyers’ agents are wealthy. Our clients come from a wide variety of backgrounds and income groups.In fact, just over 50% spend under a million dollars. Good Deeds Property Buyers will save time, money and heartache for a broad range of clients. Tell us your needs and we’ll suggest a package to suit your requirements and budget.
We are in the business of sourcing and securing the best property within your means and timeframe. We will advise you before you engage us if we believe your brief is unrealistic and we will continue the hunt until you have secured the best possible property at the right price.
An average property search project takes around 3 to 6 months, however market conditions are beyond our control and no brief is by any means typical, so we do not impose a time limit on our Comprehensive Search Service.
If you are buying property for investment, the cost of using a buyers’ agent could be tax deductible. Check with your accountant for advice specific to your situation.
It is crucial that prior to engaging a buyers agent you need to be confident that they have the experience and credentials to help you make a better real estate purchase. This questionnaire will help you measure and compare the past performances of the buyers agents you are considering.
Note – those who have sold have a greater insight into the purchase process and also understand the types of property that will be easier to sell down the track.
We advocate having a full real estate license, not the more limited BA license.
REBAA has strict requirements and a code of conduct for their members.
Note – be wary of those who limit their answer to platitudes, especially if they focus heavily on “off market” properties and negotiating $$ of listed prices (it is difficult to measure whether those asking prices were realistic in the first place).
Reference Checks – Questions to ask past clients of buyers’s agents
Note – be wary of an answer that is too formulaic – property investment is not an exact science and you can’t be too prescriptive.
Call Good Deeds Property Buyers Today on (02) 9555 5206
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