26 Jun Top Ten Questions to Ask When Choosing a Buyers’ Agent

When selecting the best buyers’ agent to find and purchase your 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. Here are some questions to consider asking when choosing a buyers’ agent:

1. Experience & Credentials

How long have you been working as a buyers’ 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.

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.

Can you provide references from previous clients? Check the company website and Google reviews for client testimonials.

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, property negotiations and auctions. Therefore, an experienced buyers’ agent will have real time insights into the strength of the property market.

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.

How do you stay updated on new listings and off-market opportunities? Experienced Buyers’ Agents have a network of real estate agents who provide exclusive pre-market 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.

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.

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.

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.

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.

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.

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.

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.

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.

We’ve answered these questions ourselves and share how we help our clients.

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.