Buying a house is a dream of many people and should, therefore, be done with much care. Various processes and numerous paperwork are involved in purchasing a residential property.
Not all home buyers have the knowledge, expertise and experience that will enable them to buy their dream property.
So how do you choose a Buyers Agent who you can trust and work with easily throughout the process?
Knowledge of local market
When searching for a buyers agent, look for one with a thorough knowledge of the local market. This is regardless you are buying in your locality or in another state.
An agent should not only know the best streets in a suburb but also those with a potential for upgrades and those that you need to avoid. Also, he or she should be able to get quick access to listings before they are released to the market.
Make sure to check the credentials of your buyers agent. Find out their qualifications including any training they have undergone, what real estate associations they are affiliated with and whether the groups are credible. You can also ask if the Buyers Advocate has industry qualifications in other states.
An experienced Buyers Agent will be well connected with local real estate sales agents which is important in being able to get access to “off market” properties before they are sold on the market to the general public.
Depending on the services you need, Buyers Advocates charge different fees.
Buyers Advocates can either
- charge a percentage of the property’s purchase price such as 1.5 percent to 2.0 percent. So on a $600,000 property at 1.5% you would pay $9000 or $12,000 at 2.0% to the Buyers Advocate. On a $850,000 the cost would be $12,750 at 1.5% or $17,000 at 2.0%.
- a fixed price – Wendy Chamberlain charges a LOW FLAT FIXED FEE for our home buying clients.
- or a combination of a fixed price up to a certain dollar amount and then a % of the purchase price. For example $2200, upfront and then 1% of the purchase price. So on a $600,000 property, the cost would be $8,200. On a $850,000 property, the fee would be $10,700.
Our recommendation is to work with a Buyers Agent that charges you a flat fee to secure your new home or investment property.
If you want your Buyers Agent to bid for you at auction, this may also require you to pay a fee.
If you have already found a property and wish a Buyers Advocate to just negotiate for you or bid for you at auction, this is also a service that an Advocate will offer you. If you engage Wendy Chamberlain Buyers Advocates, we charge you a LOW FLAT FEE. If we are successful, we also charge a flat success fee.
Normally, the greater the time an agent spends working for you, the higher the fee you’re going to pay. Wendy Chamberlain Buyer Advocates work with our buyers for a LOW FLAT FIXED FEE, therefore you know up front how much you need to invest in working with us to help you purchase a property.
It should also be noted that using a Buyers Advocate may be tax deductible especially if you are buying an investment property. Please check with your financial advisor or accountant to confirm whether this applies to you.
If you’d like us to help you with your property purchase we’d love to help. We offer a no obligation 30 minute FREE phone consultation to discuss your requirements.
Please contact us for a confidential chat.
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Call Wendy today on (03) 9686 2288 for a confidential discussion or enter your details below.