26 Jun Top Ten Questions to Ask When Choosing a Buyer’s Agent – Answered!
When working with a buyer’s agent to find and purchase a property, asking the right questions is crucial to ensure you’re on the same page and that they are the right fit for your needs. The Premier Home Finders team thought it would be helpful for us to answer the top ten questions for Buyers’ Agents.
1. Experience & Credentials
How long have you been working as a buyer’s agent? Asking a buyer’s agent about their experience is crucial because it reflects their market knowledge, negotiation skills, and problem-solving ability. Experienced agents have extensive professional networks, access to exclusive listings, and a proven track record of success. Their longevity in the business indicates trustworthiness, professionalism, and the ability to understand and meet client needs efficiently.
Premier Home Finders:
Bernadette Brennan, the Principal and Founder of Premier Home Finders brings 14 years of expertise and is recognised as one of the top buyers’ agents on the North Shore. She leads a trusted team that includes two area specialist buyers agents. Together, they have over 35 years of property buying experience, including building their own impressive property portfolios.
Do you currently hold a NSW real estate licence? It is imperative to check that your buyers’ agent has the right credentials by asking if they have a current NSW real estate license. Buyers Agents should have a Class 1 or Class 2 real estate licence. If they only have a certificate of registration, then they must work as assistant agents under a qualified Class 1 real estate licensee.
Premier Home Finders:
Bernadette Brennan who is a senior Buyers’ Agent holds a class 1 real estate license. Whilst Jillian Cook and Wendy Zhang hold class 2 licences.
Can you provide references from previous clients? Check the company website and Google reviews for client testimonials.
Premier Home Finders:
At Premier Home Finders we pride ourselves on delivering exceptional service to our clients. Referrals are the cornerstone of our business. There is no greater compliment than to have clients return to us for further purchases, of which we have had many. We have a five-star Google review rating and we are happy to share our testimonials here.
2. Local Knowledge
How well do you know the specific area or suburbs that I’m interested? Some buyers agents work exclusively in particular suburbs in Sydney making them experts in those suburbs.
Can you provide insights into local market conditions and trends? Buyers Agents see multiple properties across all different price brackets through attendance at open homes, negotiations and auctions. Therefore an experienced buyers agent will be able to provide insight as to their perspective of the market and what they are seeing.
Premier Home Finders
The Premier Home Finders’ team includes local area specialists covering the Lower North Shore, Eastern Suburbs, Sydney CBD and Inner West, as well as the Mid and Upper North Shore. Each Sydney suburb is a micro market, so the value of a Buyers’ Agent with local area knowledge cannot be underestimated. See our article Explaining Price Variations within Your Suburb for further insight into our local knowledge and how we help navigate the intricacies to get the best outcome for our clients.
We acquire properties ranging from investment properties and apartments all the way up to grand waterfront properties and whole apartment blocks. Our range of buying experience gives us a significant advantage with market knowledge and property negotiation. Coupled with our local knowledge, our clients feel confident making buying decisions as they are informed and well researched.
3. Search Process
What is your process for finding suitable properties for clients? It is important to understand the Buyers’ Agents method, expertise, and how effectively they can meet your specific property needs.
Premier Home Finders:
Since we have local area specialists, we intimately know the streets and types of properties in a desired suburb. Firstly, we ensure that our buyers’ budgets and requirements are achievable within their desired suburbs. Once we confirm this, we focus on the areas where there are suitable properties that meet the brief. We then contact the real estate agents who specialise in these areas to share our client’s requirements and see if they have anything suitable.
We also attend open houses for properties currently for sale as well as off-market properties. We inspect the properties prior to our clients to rule out unsuitable properties and save their valuable time.
How do you stay updated on new listings and off-market opportunities? Experienced Buyers Agents have a network of real estate agents that they are in contact with and are often given access to exclusive listings and off-market properties. Often buyers agents are given preferred buyer status as they have qualified buyers ready to purchase and also understand the contractual side of buying a property.
Premier Home Finders:
We have a large database of real estate agents, divided into their geographic areas of expertise. We directly e-mail all the suitable sales agents with our client’s requirements. We also call the agents in these areas searching for off-market opportunities as well as go to open houses in the desired areas to further discuss our client’s property brief.
4. Fees and Costs
What is your fee structure, and how do you get compensated? Be open to discussing the fee with your Buyers Agent so that you are comfortable with the fees charged. Transparency and upfront conversations can put your mind at ease. Many expert buyers agents have the end goal of saving you money thereby making their service at least cost-neutral. Something else to address is what happens if you buy a property above or below the price range you had originally indicated to the Buyers Agent.
Premier Home Finders:
For our full service search offering, we charge $18,700 including GST for properties priced up to $1m. As a general rule, for properties priced over $1m, we charge 1.87% of the purchase price including GST. However, there is a reduced sliding scale for luxury, higher-priced properties.
5. Client Load
How many clients are you currently working with, and will you have enough time to dedicate to my search? Remember, bigger isn’t always better; larger firms may have multiple clients seeking the same properties, potentially leading to competition and conflicts of interest. Make sure that your interests are their number one priority and that you won’t be competing with another one of their clients for a property.
Premier Homer Finders:
Our greatest achievement is having happy clients for whom we’ve secured a home in the perfect location at the right price. To uphold this core value, we demonstrate our commitment by only representing one client per price point and location, ensuring that you never compete with another of our clients.
6. Communication
What is your preferred method of communication (phone, email, in-person)?
How often can I expect to receive updates on potential properties and the progress of my search?
Effective communication is essential. By asking these types of questions, you ensure that both you and your Buyers’ Agent have a mutual understanding of the process and expectations. It’s common for agents to send videos of inspected properties, so it’s important to ask how they will share these and how you will receive updates throughout your search.
Premier Home Finders:
Effective communication is essential for a successful partnership with our Buyers’ Agents. You can expect weekly updates, property videos via WhatsApp, in-person property viewing, research and dedicated support from our Client Services Manager throughout every step of the process. We also deal with international clients and are accommodating of different time zones. Our services extend beyond the purchase, warmly welcoming all our clients into the Premier Home Finders family community.
7. Types of Property
Do you specialise in certain types of properties (e.g. residential, commercial, investment)? Within a Buyer’s Agency, people may specialise not only geographically but also by the type of property. For investors for example you might ask for examples of clients they have helped or if they have built their own investment property portfolios.
Premier Home Finders:
We specialise in purchasing residential properties for both homeowners and investors. Our team includes local area specialists covering the Lower North Shore, Eastern Suburbs, Sydney CBD and Inner West, as well as the Mid and Upper North Shore. Whilst we can’t show you all of our purchases due to their confidential nature you can view some of our purchases here.
8. Inspection and Due Diligence
Do you assist in coordinating property inspections and due diligence? Buyers Agents offering a full service would generally include this as part of their service to their clients.
Can you recommend trusted inspectors and other professionals? Seasoned Buyers Agents will have a network of services that they can refer you to whether it be interior designers, insurance providers, mortgage brokers, conveyancers, lawyers or building and pest professionals.
Premier Home Finders:
Our full service offering includes thorough due diligence on the property and comparable sales analysis. We inspect the properties before our clients and rule out the properties that are not suiting, thereby saving our clients valuable time. With some off-market properties we only have one opportunity to see the property so we request our clients accompany us to these viewings.
We also have a large roster of skilled professionals that we can recommend ranging from interior designers, architects, building inspectors, conveyancers, plus many more.
9. Market Analysis
Can you provide a comparative market analysis (CMA) for properties I’m interested in? Thorough research is essential for an effective buyer’s agent. It forms the foundation of their expertise and benefits clients significantly. Providing a CMA and or property report gives you the tools and knowledge to make an informed decision so that you have clarity and confidence in your purchase.
Premier Home Finders:
We conduct a thorough due diligence analysis, which we compile and provide to our clients in the form of a comparative market analysis property report.
10. Success Stories
Can you share some success stories or case studies of clients you’ve helped find and purchase their ideal properties? Listening to success stories can give you insight into what type of properties the buyers’ agent has bought and help you to decide if they align with your own personal requirements or what you value.
Premier Home Finders:
Through our extensive experience and years of property buying we can provide case studies on a myriad of scenarios. You can also view some of our case studies here.
Remember that the buyer’s agent you choose should align with your goals, preferences, and the type of property you’re looking for. It’s essential to have open and transparent communication with your agent to ensure a successful collaboration in your property search and purchase.
Contact Premier Home Finders Buyers Agents. We specialise in Sydney’s North Shore, Eastern Suburbs and Inner West and we are here to help you achieve your property goals.
