Finding a good Sydney buyers agent can be a tricky task. There are several inexperienced agents with little to no industry knowledge or negotiation skills. Most of them have completed an online course and secured their license in a matter of days. However, they have not obtained the experience required to get your dream home for the right price.
It is highly important to choose an experienced buyer’s agent when buying real estate in Sydney. But before we get into how to find a good buyer’s agent, let’s look at their main duties and understand how they can benefit you.
Benefits of a buyer’s agent Sydney
A buyer’s agent in Sydney will help in:
- providing information and advice to buyers
- searching for and shortlisting properties that match your requirements
- gaining access to off-market properties
- assisting with selecting the right property
- inspecting and evaluating the property
- conducting research and comparing other properties in the market to determine its value
- negotiating a fair price with the seller
- making an offer on your behalf and liaising with other parties during the transaction
- managing all the paperwork related to the purchase
How to choose a good buyer’s agent in Sydney?
When interviewing candidates to represent you as a buyer’s agent Sydney, here are a few questions you should consider asking:
- Do they have a license? If yes, for how long?
- Do they also work as seller’s agents or do they render their services only to buyers?
- How much experience do they possess in researching properties and negotiating with sellers?
- How much do they charge and whether or not you have to pay if they fail to find the property you seek?
- What differentiates them from other buyer’s agents in Sydney?
- How strong is their network?
- How are their relationships with selling agents?
- Are they are covered by professional indemnity insurance?
- Can they help you receive rebates or discounts through their contacts?
- Are they associated with the Real Estate Buyers Association of Australia, or the Real Estate Institute of NSW, or any other industry association?
- Their terms and conditions and how you can terminate the contract if you’re not content with their services.
These questions will help you identify the right person to secure a property in NSW. But the process does not end there. When you find the right buyer’s agent or buyer’s agency Australia, make sure you do your research to verify their authenticity. Run a search of the agent’s name on Google and see what you find. Other buyers who hired the agent in the past may have left their impressions about his/her services. This will make it easy for you to confirm if you have found your man!
Rules of conduct to be followed by buyer’s agents
The Property and Stock Agents Regulation 2022 requires buyer’s agents to maintain certain ethical and professional standards. Here’s what you need to know about these rules when working with a buyer’s agent Sydney.
- If there is any conflict on interest in representing you, the agent must let you know before signing the agreement
- The agent must provide you with a signed statement of details regarding the property when signing the agreement
- They should keep you updated regarding developments in the negotiations
- They should keep your interests in mind and negotiate the best price for you
- They should not take payments from selling agents after referring you to them
Why you need an experienced buyer’s agent Sydney
If you’re sick and hospitalized, you’d prefer an experienced doctor over someone who just got out of med school, right? Similarly, when purchasing a property, you need an experienced buyer’s agent Sydney to find you the best possible house at the best possible price. The wise way is to choose an agent with at least five years of experience. Not only do they possess strong industry knowledge, but their communication and negotiation skills will come in handy, especially with difficult sellers.
NSW Fair Trading can help you find out how long an agent has held their license. All you have to do is visit the website and enter the name of the agent you have shortlisted to access their professional information.
Final thoughts
Although investing in real estate can be an expensive affair, an experienced buyer’s agent Sydney will make it a lot easier and cost-effective for you. Some of the best agents charge a relatively high fee for their services. But, they can help you save a significant amount of money on the whole purchase process, making them a crucial component of your house hunting efforts.
