Sydney buyers agents can give you the upper hand in buying a property in Sydney’s competitive housing market. They can show you properties not yet listed on the market, share insider knowledge about real estate, know the property hot spots and work independently of real estate agents. Before putting the biggest purchase of your life in the hands of a buyers agent, here are the five questions you should ask.
- Is your buyers agent insured?
- Is your buyers agent licensed?
- Are they a member of the Property Buyers Agents Association of Australia?
- How long has your buyers agent been in the industry?
- How connected is your buyers agent?
In today’s world, it pays to be safe than sorry. If anything goes wrong with your property purchase, you will have no recourse if your buyers agent is not insured. Make sure that your buyer’s agent carries no less than $2 million worth of professional indemnity insurance which is an important consumer safeguard. You should also ask about the company’s claims history to ensure that you are not dealing with an agent who has had several claims against them and has a bad reputation in the industry.
As with insurance, if your agent is not licensed as a real estate agent in Sydney (NSW) you could risk losing the house of your dreams and your hard earned cash as well. You can easily check whether they are accredited by contacting the NSW Office of Fair Trading.
Check whether the buyers agent is a member of the relevant real estate agent in their respective stage. For Sydney buyers agents, this is the NSW Real Estate Institute (REINSW), the peak real estate industry association in NSW.
Plus, check whether the buyers agent is a member of the Real Estate Buyers Agent Association of Australia (REBAA) which aims to ensure the professionalism and integrity of the buyers agent industry in Australia.
Checking whether your buyers agent belongs to these professional associations will put your mind at ease that they are operating to a professional industry standard.
It is important that your buyers agent has had several years experience in the industry as a real estate agent and understands the property market and property cycles. Ask about their professional background and what real estate agencies they have worked for previously. If necessary, contact their previous employer and ask about their sales history and ask to see case studies or client testimonials.
Your agent should have long standing relationships with several professional real estate companies in the area in which you wish to buy and be able to be the ‘first come first serve’ agent, getting “silent listings” or properties before they hit the open market. The only way to check this is to ask real estate agencies in the area about your buyers agent and ask to see case studies and client testimonials. Your buyers agent should also have a large network of contacts in the fields of real estate and related services, such as solicitors, financiers, architects, conveyances, planning inspectors, building inspectors and the like.
Knowledge is power – your Sydney buyers agent should be property specialists and be experienced and knowledgeable in property and other related areas. They should also be able to answer any questions in regards to how to add value to a property, planning laws, property tax and property inspections, and give you impartial advice about whether a property is a good long term investment.
Amanda On My side offers exceptional buyers agent services throughout Sydney and across Australia. Engage a professional real estate buyers agent to help you find the best property at the right price. A property buyers agent, also known as property finders or a buyers advocate, can help find, research and bid on your next home or investment property. Need a buyers Agent Sydney – then you need Amanda on your side.
Tags: advice, buyers agent, sydney, tips
