Andrew Winter of Selling Houses Australia reveals his top tips for purchasing a new house: a buyers agent.
Think of a buyer’s agent as your PA in the property world. A real estate/selling agent sells, whereas this profession is all about working on behalf of buyers.
WATCH: Selling Houses Australia returns for Season 14. Article continues after video.
When should you enlist a buyer’s agent?
It could be deciding you want an investment property, but having no idea where to start. Or you are a busy family with little time or energy to put into securing your forever home. Maybe you’re moving interstate or returning from overseas – all are reasons to appoint a buyer’s agent.
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!
Related stories
Native ad body.
Native ad body.
Native ad body.
