How to Choose a Buyers’ Agent. In every industry, there are highly capable and very poor operators. A good buyers’ agent can save you money, steer you out of harm’s way, point out serious unforeseen issues you may have overlooked, tell you when to walk away and give you access to a deep network that they have nurtured over many years. On the other hand, a poor buyers’ agent will yield contrary outcomes.
Trust your gut
As a rule of thumb, I keep asking questions until I understand something. If a buyers’ agent ever says, “on average I save 10% of the purchase price on every deal”, I would ask them to explain or provide evidence for that claim. How do you measure that? What proof can you show me? How do you price properties? Persist with your questioning and if they do not have clear, concise answers for the grey areas, I would be second guessing them.
Ask around
If you are a buyer in the market, you probably have already spoken to several agents. Next time you meet an agent, ask them what they think makes a good buyers’ agent. Surely if you ask five selling agents this question, there will be a common theme shining through in their answers.
Undertake your research
Most selling agents and buyers’ agents will have an easily accessible footprint. View their Instagram, Facebook and Google reviews and anything else you might come across to enlighten your understanding of their capability.
Ask for references
Anyone can claim that they are exceptional at their job and anyone can provide glowing references for people with whom they have a close association. During your research phase, have a close look at some of the properties that a buyer’s agent has bought on behalf of clients (you can usually find this sort of information on Instagram), and ask the agent if you can speak directly to the buyers. You will then be able to hear about an agent’s level of service ‘straight from the horse’s mouth’, rather than rely on the 5-star reviews provided to you by the agent.
Negotiation
Don’t be afraid to negotiate an agent’s fees. If they are prepared to reduce their fees considerably, this might be a red flag. If you are a better negotiator than they are, what are you paying them for?
Area of expertise
When considering How to Choose a Buyers’ Agent, It is best to find an agent who specialises in the area in which you wish to purchase a property. An agent’s local network is one of their most valuable assets. This is because it is easier to deal with people you know – you will be propelled to the front of lines and be provided with information that someone with a ‘colder’ relationship might not be able to secure.
Database
A good buyers’ agent should already have access to a database of off-market properties in a specific area. This is always a good foundation from which to commence a search.