Purchasing property is one of the biggest financial decisions you’ll make, whether it’s your first home or an investment property. That’s why choosing the right buyer’s agent is critical. A skilled and trustworthy agent can simplify the process, save you money, and help you make more confident decisions.
But how do you find the best buyer’s agent for your needs? It starts with asking the right questions. This guide will uncover the 5 key questions to ask before hiring a buyer’s agent. These questions will give you the insight you need to evaluate their expertise, ensure they align with your goals, and feel confident in their ability to represent you.
For even more expert advice, tune in to the House Finder podcast, where we cover everything you need to know about hiring a buyer’s agent.
1. What Experience Do You Have in My Target Market?
When it comes to real estate, local expertise is non-negotiable. Markets can vary drastically from one suburb to another, and an experienced buyer’s agent who knows the ins and outs of your desired area has a competitive edge.
An agent’s experience influences their ability to identify the best properties in appealing locations—and negotiate a great deal. For example, they’ll know suburb-specific factors like:
- Which streets have the best schools and amenities.
- Where planned infrastructure developments could affect property values.
- Market trends, including fluctuations in supply and demand.
What to Look For
- A proven track record of successful transactions in your target area.
- Testimonials or reviews from past clients.
- Knowledge of infrastructure projects or zoning changes impacting the local market.
Ask your prospective buyer’s agent about their past clients and properties they’ve secured nearby. An agent with a wealth of local knowledge is more likely to help you find the right property that fits your lifestyle or investment goals.
2. How Do You Find and Assess Properties?
The way a buyer’s agent sources and evaluates properties determines whether they’ll find you the best options on the market—or miss out entirely. A great agent will combine access to listings you won’t find yourself with a thorough vetting process.
- On-Market Properties: While you can find these yourself on portals like Domain or REA, agents often have early access to listings or auction results.
- Off-Market Properties: Many agents cultivate relationships with local real estate agents, giving them exclusive access to properties that aren’t publicly advertised. This could deliver you a better deal (with less competition).
Selection and Vetting Process
An effective agent considers more than just the basics like price and size. They’ll strategically assess properties based on:
- Your budget, preferences, and goals.
- Growth potential for investment properties, such as proximity to transport hubs or employment centres.
- Likely rental yields or future resale value, ensuring the property aligns with your financial objectives.
Make sure to ask, “How do you conduct due diligence on a property?” A trustworthy agent will offer transparency about their research methods and decision-making process, ensuring only the best options reach you.
3. What Are Your Fees and How Are You Paid?
Understanding how a buyer’s agent is compensated helps avoid surprises and ensures their incentives align with your best interests.
Common Fee Structures
- Fixed Fee: A set amount regardless of the property’s price. This approach often eliminates potential bias and ensures the agent focuses solely on client satisfaction.
- Percentage-Based: A percentage of the final property price. While this can motivate agents to land the best deal, it’s important to ensure you’re comfortable with this structure.
Why Transparency Matters
Pricing clarity ensures there are no hidden fees or conflicts of interest. Red flags to watch for include:
- Additional charges for services you assumed were included.
- Confidentiality around whether the agent receives commissions or “referral fees” from developers or third parties.
Ask your agent for a breakdown of their fees, services included, and whether they accept external commissions. A professional buyer’s agent will outline their pricing structure clearly from the beginning.
4. How Will You Negotiate on My Behalf?
A buyer’s agent isn’t just there to find properties—they’re also your advocate when it comes to negotiation. Their expertise in securing favourable terms can save you thousands of dollars while ensuring a smooth process.
Strategic Negotiation Skills
The best agents take time to understand:
- Your property objectives.
- Current market conditions (e.g., is it a buyer’s or seller’s market?).
- The property’s true value, based on comparable sales and local market trends.
An agent with strong negotiating skills will advocate for more than just price. They’ll also work to secure terms that benefit you, such as extended settlement periods or added inclusions like furnishing or appliance upgrades.
Case in Point
Ask your potential agent for examples of past successful negotiations. For instance:
- Did they save a client tens of thousands by identifying hidden repair costs during an inspection?
- Did they win an off-market property under budget despite its popularity?
Confidence in your agent’s ability to negotiate is key to ensuring you make the most of your investment.
5. What Post-Purchase Support Do You Provide?
The role of a buyer’s agent doesn’t end the moment you sign the dotted line. A great agent offers ongoing support to make your transition into property ownership seamless.
Post-Purchase Benefits
- Settlement Assistance: Helping coordinate with solicitors, conveyancers, and lenders to ensure paperwork is in order.
- Inspection and Maintenance Guidance: Assisting with pre-settlement inspections, flagging concerns like structural issues or pest infestations.
- Market Insights: Providing updates on market conditions and the potential for reinvestment or renovations.
- Professional Referrals: Connect you with reputable property managers, landscapers, or tradespeople.
Post-purchase guidance ensures your property ownership experience begins as smoothly as possible. When interviewing agents, ask about the continued value they deliver beyond the purchase, especially if you’re an investor seeking long-term returns.
Make the Smart Move With the Right Buyer’s Agent
Navigating the property market is no small feat. By asking these five questions, you’ll significantly increase your chances of finding a buyer’s agent who works in your best interests—and helps you secure a property that meets your exact needs.
Want more actionable advice? Tune in to the House Finder podcast, where we uncover everything you need to know about choosing the best buyer’s agent in Australia and securing your dream property.
