Not all Buyer’s Agents are the same, offer the same level of service and are a good fit for you. When choosing a Buyer’s Agent to work with, you often will not be comparing apples with apples. Smart buyers dig a little deeper before they commit to a certain Buyer’s Agent.
1. Do you receive kick-backs or incentives from third parties such as developers, builders or real estate agents in connection with your services?
– kickbacks may mean this agent could be giving biased advice in order to receive their incentive.
2. How connected are you in the local real estate industry?
– does your agent have good working relationships with local sales agents or are they unknown and unlikely to receive the off-market and secret listings that are reserved for the inner circle?
3. Are you completely independent or are you connected to others in the industry who are paying you?
– some agents will “double dip” when it comes to receiving commissions from both you and the selling agent. This is highly unethical. A reputable Buyer’s Agent will work for you and only you. No biases and kick-backs. If they are receiving an incentive, they’ll tell you about it beforehand.
4. Will I be working exclusively with YOU throughout the process, or will I be dealing with others in your firm?
– some agents will win your business and then send you off to an assistant or less experienced agent for part or all of the buying process. No one likes to be downgraded, and it will likely affect your overall result.
5. How long have you been in real estate and do you specialise in buying property in Brisbane?
– put simply, a rookie agent will produce sub-par results. An out of town agent will likely do worse because they are unfamiliar with the local market and won’t have the local connections to get you access to the off-market properties and secret deals.
I also suggest performing a google search on your potential Buyer’s Agent and checking their social media accounts to see how connected they are, and to get a feel for what they are like “off the clock”.