How to get the best out of your buyer’s agent

Tips for getting the most from your buyer’s agent experience

Lately there has been an increase in the number of people contacting us here at Buyers Agent Guide who are looking to use a buyer’s agent for the first time. With the advent of buyer’s agents being relatively recent in the real estate industry, many of those who are new to this service may be unsure of what expectations they can have when using a specialist to help find the right property.

A good buyer’s agent can be even more effective in helping with your property purchase if you know what to expect from them. There are a few things to remember when selecting the right buyer’s agent for you, which you can read about in our earlier post on this subject. Once you have found a professional agent that suits your needs it is important to understand what you can do to maximise their value in finding and transacting your real estate purchase.

In this article we discuss a few simple things you can do to make sure you get the best out of your agent after you’ve engaged them to assist in your search for the perfect home or investment property. Being prepared will help to ensure a smooth property transaction with the least possible time and effort spent by you, the buyer.

Understand what you want

Buyer’s agents work with a wide range of clients of differing profiles. Whilst some are looking for the perfect home, others may be after a low cost investment, looking to offset taxable income with a negatively geared property, or even considering a number of different investment options such as shares or a term deposit. Be confident about the reasons you are looking for a property, the financial outcomes you want and over what time period you hope to achieve these goals.

If you are uncertain about any of these factors talk them through with your agent. Ultimately a professional buyer’s agent has the expertise to guide you through these decisions and will help you to better understand the type of property you are looking for.

Know your budget

Your buyer’s agent is an expert in sourcing real estate, understanding the industry, negotiating with vendors and a variety of other aspects required to help you make the best possible purchasing decision. One thing your buyer’s agent is (probably) not professionally qualified for is providing financial advice. Ensure that you know how much you can afford to invest on a monthly or annual basis before meeting with your agent. You can start with our free budgeting tool to get a sense of your position, and then seek out a qualified financial planner if you are after an expert opinion.

Be ‘hands off’

Remember that you decided to contact your buyer’s agent for a reason – to be supported and save time. At the end of the day you are paying your agent to do the hard work for you. Good buyer’s agents will help you to make a wise investment by presenting you with a range of options, ensuring that you are comfortable with your decisions and keeping emotion out of the negotiation process or auction bidding. Answer their questions as clearly as possible and let them do the job you hired them for.

About the Author: Kristin is a freelance writer and property investor from Brisbane, Australia. You can view Kristin's other projects or contact her at LinkedIn or Google+. If you have any topics that you would like to see covered on this blog, please email blog at buyersagentguide.com.au

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