The Buyer’s Agent industry in the Australian property market is one that is new and emerging. Many people haven’t even heard of a Buyer’s Agent or know they exist, let alone understand how Buyer’s Agents help Buyers in the buying process and at the same time, add immense value for people looking to buy their first home or buy an investment property. Using a Buyer’s Agency can enhance a buyer’s overall buying experience provided the buyer chooses the right Buyer’s Advocate for them.
Because this is such a new space in real estate, it is important buyers understand how to assess a Buyer’s Agent based on their experience.
Buyers should look for the following when appointing a Buyer’s Agent to represent them in a purchase transaction.
- At least five (5) years property experience, buying property in the local Brisbane real estate market. A Buyer’s Agent who is unfamiliar with the local area will not be the best choice for buyers.
- The Buyer’s Agent should live locally in the Brisbane area. Let’s be honest, nothing beats local knowledge from a local themselves.
- The Buyer’s Agent should have prior experience working in the real estate industry. Ideally, the Buyer’s Agent will have previously worked as a selling agent so they understand and can relate to how selling agents operate. Being able to “work-in” with selling agents is a must when it comes to representing buyers in property purchases because this is how a Buyer’s Agent can put their client in a strong position when negotiating a purchase.
- The Buyer’s Agent should have a single focus area. If a Buyer’s Agent is spreading themselves too thin and claiming to represent buyers in multiple areas, this can have a diluted affect on the client’s purchase and experience. It is incredibly difficult for a Buyer’s Agent to service Brisbane, The Sunshine Coast and the Gold Coast intimately. Buyer’s Agents who focus on one specific area produce better results for their clients if the target property falls within that region.