What are their services?
Selling agents act on behalf of and are paid by the seller. They may be charming, but they’re still not representing you.
A buyer’s agent acts for you, helping you to invest, buy your first home or dream home, and up or downsizing. You will have a professional on your side, helping with as much as you require.
At what cost?
Fees are based on the service you’ve selected, and are sometimes based on the value of the purchase. You can appoint a buyer’s agent to simply negotiate or bid at auction for you, costing a few thousand dollars. To acquire your dream home with the full concierge service, the cost could be two per cent of the purchase figure.
Many providers also offer fixed price contracts, with a guide of $10,000-$25,000. As a rule, an investment purchase sees lower charges, as seeking a dream home is a more time-consuming process.
A good agent could save you on fees, time and stress.
How do you choose the right one?
This industry has existed for many years, but its expansion has not been matched by legislation or government bodies. The Real Estate Industry of Australia ensures all practitioners are licensed, however, some property investment agencies classify themselves in the ‘investment/financial’ category, so they may be regulated through Financial Services legislation.
If you select the right service, the value for money could be without question.
For more, pick up a copy of New Idea. On sale now!