8 Questions to Ask Before You Hire a Buyer’s Agent

Before hiring a buyer’s agent, make sure that you assess and determine whether they are the right fit for you. Knowing a buyer’s agent’s qualifications is important since you will be entrusting your entire home buying journey to them. You can do this by interviewing them and asking them the right questions.

By asking these questions, you’ll be able to assess their knowledge, background, and experiences. Don’t be afraid to ask these questions before you hire a buyer’s agent as a skilled buyer’s agent will be able to answer them with no problem.

1. How long have you been an agent?

How long a buyer’s agent has been in the industry says a lot about his/her experience in real estate. The longer he or she has been a buyer’s agent, the more clients he or she might have already handled. Ideally, hire a buyer’s agent with over 10 years of experience in the real estate industry as a licensed sales agent. These several years of experience have definitely provided the buyer’s agent with enough knowledge that he/she needs to provide the best service to his/her clients.

2. How long do you usually work with buyers, from the first home you see together to the closing table?

It isn’t easy to find your dream home and your buyer’s agent plays a big role in the time it takes to find your perfect home. Although there are many factors that also affect the duration of the home buying process, you should still ask how long it usually takes for the agent to close a deal as you should be wary if the agent often takes six months or longer before closing a deal.

3. Have you helped buyers find homes at these price ranges?

All buyers work within a budget when looking for their new home. You need to to make sure that your buyer’s agent specializes in properties that are within your budget range. Given this, your buyer’s agent definitely has enough experience and knowledge in finding the best properties within your budget. You’ll know that with the property you’ll be purchasing, you’ll be able to get your money’s worth.

4. What is your experience with the neighborhood I am interested in?

It is important that the buyer’s agent you hire is knowledgeable and has had previous experiences in the neighborhoods you are interested in so that they can make sound judgments on whether it is a good fit for your goal.

The advantage of having an experienced buyer’s agent is that they will be able to tell you what type of community that neighborhood is and how it is developing. They should also be aware of where the neighborhood essentials are such as the grocery stores and hospitals, the quality of schools and life in that neighborhood in general, and if it is suited for your lifestyle or if there is another neighborhood that they can suggest. 

5. What is your expertise in the type of property I want to buy?

 Aside from knowing the neighborhood, the buyer’s agent you hire should also be an expert in the type of property that you plan on purchasing. Different types of property require different sets of skills and each has their own considerations and challenges to look out for. Make sure that your buyer’s agent will be able to check the type of property you need to buy for red flags.

6. What’s the most you’ve negotiated from a purchase price in the last year?

Make sure that your buyer’s agent knows how to negotiate. Find out about their negotiation style and experiences to determine whether they are a good negotiator or not. You will need a good negotiator to get the best price you can for the property that you want to buy. This is where their experience is revealed. Top negotiators have been in the industry for many decades which is the best way to gain effective negotiating skills.

7. How do you help buyers compete in this market?

If you are buying in a competitive buyer’s market, you might need to stand out from all of the other offers to ensure your offer is the most competitive in all areas, not just price. This is where an experienced buyer’s agent will really show their skills that will help you determine if your choice of  your buyer’s agent has been the  right one.

8. What are the legal pitfalls I need to worry about?

Although you will be hiring a real estate settlement agent when your offer is accepted, there are still some legal issues that might come up even before the settlement day. Hence, this question will test the agent’s legal knowledge. As a buyer’s agent, he/she should be familiar with disclosures, conditions, paper work, closing issues, and more.

Your buyer’s agent will be your partner in looking for your dream home so it is essential that you hire one who’s reliable and well-experienced in the real estate industry. The buyer’s agents at Buying Perth Real Estate are ready to answer these questions and any other questions that you might have. These experienced buyer’s agents can definitely provide you with the best service. As experts, we will start by learning about the needs of the client and create the best strategy to help you find your perfect home.
Give us a call at 08 6215 0200 or send an email to clive@buyingperthrealestate.com. We’d love to walk you through the whole property buying process.

Is An Experienced Buyer’s Agent Worth It?

You might think that hiring a buyer’s agent will cost you more, but in reality, buyer’s agents offer many ways where you can save up on costs and fees. Aside from money, buyer’s agents can also save you a lot of time, effort, and stress through handling the buying process.

So, is hiring an experienced buyer’s agent worth it? Read more to find out.

An Experienced Buyer’s Agent is a Buyer’s Advocate

If you think that a real estate agent is on the buyer’s side, you are wrong. A real estate agent is hired by the homeowner to sell their property. They are legally and morally committed to work in the seller’s best interests. They will try to get conditions that are most profitable for the seller and not for the buyer.

Meanwhile, a buyer’s agent is a buyer’s advocate. They will do everything for the best interest of the buyer both in checking the quality of the property and in negotiating the lowest price with special conditions that best suit the buyer. They act as a third party in the final decision and help take away the emotion associated with making the final decision, which can often save making big mistakes or losing your negotiating advantage.

An Experienced Buyer’s Agent Can Lessen Your Time In Looking For The Perfect House

Some buyers take years in looking for a house. Although this is a normal scenario, most people wouldn’t want to spend most of their precious time looking at different houses that eventually don’t meet their requirements. In finding the perfect home, you need to consider a lot of things.

When you have a buyer’s agent, they can do the initial leg work for you. They will find different properties that fit your criteria. Afterward, they will shortlist options based on what they think are the best opportunities for you based on the detailed brief that they have complied after spending quality time in discussion with you at the time you engage their services. This will save you a lot of time and effort that you would need to spend if you were looking for properties by yourself. Your buyer’s agent will do that for you. Moreover, they have more knowledge and will surely be able to find the best properties.

An Experienced Buyer’s agent is knowledgeable especially when it comes to negotiations

With years of vast experience, the right buyer’s agents are sharp negotiators. Aside from providing you with the best property options, they can also provide you with the best deals. They will help you make the right offer that will lead you to finally getting the property at the best buying price.

They can often save you tens of thousands of dollars in the final negotiations for the property you are buying.

buyer's agent house  with key

What Can I Save by Hiring an Experienced Buyer’s Agent?

The buyer’s agents service fee, to you the buyer, is more than covered by:

  • the time and stress you are saved in the searching and checking the properties for due diligence with all the authorities
  • negotiating the best possible price
  • including the necessary special conditions in the contract to protect you
  • arranging building inspections to be done by experienced licensed builders
  • helping where necessary in your search for finance at the best rates
  • plus a host of behind the scene checking and searching and communicating regularly with you throughout the whole process. 

So, is a buyer’s agent worth it? An experienced buyer’s agent or advocate can really offer you good value for their services.

The objective of a buyer’s advocate will always be for the benefit of the buyer. It is good to have a real estate expert that is on your side. They will help you become rational about your decisions. They are knowledgeable, they have access to off-market listings, and they are sharp negotiators. With all these values brought by buyer’s agents, hiring one is definitely worth it. They will save you money, time, and most importantly – relieve you from stress.

Reach out to Buying Perth Real Estate to know more about the benefits of hiring a buyer’s agent.

Buyer’s Agent vs. Real Estate Agent

Do you often get confused about different terms regarding real estate? For example, there are real estate agents, buyer’s agents, and brokers. Do you know the difference between each type of agent? If you’re looking for a property to purchase, would you know who to call?

The agent you need for your real estate transaction would depend on your objective. You can choose between a Buyer’s Agent and a Real Estate Agent to help you. Here are the differences between the two types of agents:

Real Estate Agent

real estate agent showing a house to buyers

A real estate agent, otherwise called the listing agent, represents the home seller. The seller pays them and they have a legal responsibility to get the maximum price possible for the seller. They do not work for the buyer. Real estate agents are in charge of putting up the property on the market, looking for buyers, and conducting open houses. They are also in charge of negotiations for the home seller, closing the deals, and beyond. 

If you are a homebuyer and have already decided on buying a specific property, you can directly reach out to the real estate agent of that property. The real estate agent will then review your offer and can close the deal once you’ve agreed on everything.

Do you need a real estate agent to sell your property? It’s not required to have a real estate agent to sell your property, but it has its advantages. For one, they’ll have more connections and contacts and will be able to market your property to a wider range of audiences. You’ll have someone to guide you, the property owner, through the whole home selling process and help make it smooth and stress-free.

Buyer’s Agent

buyer's agent

On the other hand, if you only have an idea of what type of property you want and what you need for your new home, it would be best to contact a Buyer’s Agent. As a real estate professional, the buyer’s agent will help you find the perfect property that will fit your needs – regardless of who is selling them. Buyer’s agents will work only for you. The selling agents do not pay them. They are engaged by you and work in your best interests at all times.

The buyer’s agent will do the leg work and research for possible properties that checks all your requirements. Based on your preferences, the buyer’s agent will provide you with recommendations for different properties. 

In choosing the shortlisted properties, the buyer’s agents will base it on hard facts and market data. With this, they will also be able to help you decide on an offer that will put you at an advantage over other buyers. 

Since the buyer’s agent represents the buyer, he/she should also ensure that you are not paying too much. Once you’ve chosen a property, the agent will negotiate with the seller so you can get the best deal and terms. They will also take care of all requirements and assistance that you may need in purchasing the property. This includes selection, research, negotiation, Special conditions to the contract to protect you, right through to unconditional contract. 

Who should you call?

Knowing who to call for your real estate transaction, whether buying or selling, will save you from a lot of hassle. So given all the information, do you already know who to call?

If you are planning to buy a new home in Perth, feel free to reach out to the Buyer’s Agents at Buying Perth Real Estate. We’ll listen to your criteria and help you find the best option. Get a free consultation at https://buyingperthrealestate.com/buyers-agent/

Why You Should Buy A Retirement Home Sooner than Later

What do you plan to do after you retire? Is moving to another community and getting a new home part of your retirement plans? If yes, when do you plan to do it? 

You don’t need to wait until after you retire before you buy a retirement home. Below are some of the benefits of buying a retirement home sooner:

1. It’s an investment opportunity.

If you’re still in the workforce and do not plan on retiring anytime soon, you might think that you don’t need to worry about your retirement home yet. But purchasing early has numerous advantages. If prices of Perth real estate property start to rise to around 5-7% each year. With property prices at today’s current level, this is the time to make your move. 

Although you might not be able to move in yet, by buying now you can use it as an investment. You can use it as a vacation home. You can even rent it out; therefore, generating additional income for you.

2. It is easier to get approved for a mortgage while you are still fully employed.

Employment status is one of the factors that lenders consider for those who apply for a mortgage. They prefer to work with borrowers who have a steady salary as they feel more secure with them. Having a stable income means the borrower is capable of paying the mortgage on time.
When you apply for a mortgage after you retire, they will also look at your debt levels and assess your credit score — which leads us to our next point.

Employment status is one of the factors that lenders consider for those who apply for a mortgage. They prefer to work with borrowers who have a steady salary as they feel more secure with them. Having a stable income means the borrower is capable of paying the mortgage on time.
When you apply for a mortgage after you retire, they will also look at your debt levels and assess your credit score — which leads us to our next point.

3. You can work on your credit score.

When you plan early, you will have more time to pay off your debts. As a result, you can maintain a good credit score. Having a high credit score will help you get a good deal when applying for a loan for your new home. You will be more eligible for a lower interest rate.

Start early with being conscious about your credit score. Be mindful of your financial behaviors — pay your bills on time, avoid spending beyond your means, and clear your debts. Then, make sure to maintain your credit score even after you retire. When you retire, your income will decrease. With this, make sure to adjust your expenses and lifestyle.

4. It will give you more time to save up.

The sacrifices you will do for saving up early will benefit you in the long run. You will have more money to afford a bigger deposit; hence, lessening your monthly mortgage payments. You can also use your savings for future renovations or upgrades for your new home or even to make your home interior design dreams come true.

Buying a new home is a big move that requires a lot of planning and saving up, especially if it’s for your retirement. You need to give yourself enough time to plan as this will be where you will be settling down when you grow old. It is the place where you will spend your later years in life. You will spend all your time there so it is best to think about it carefully and decide on the lifestyle you want to have for the rest of your life.

Do you already have an idea of your dream retirement home but don’t know where to start? Planning to buy a retirement home? Let us help you turn those dreams into reality. Reach out to the buyer’s agents at Buying Perth Real Estate by sending an email to clive@buyingperthrealestate.com or check out our website.