Buying a Property

3 Tactics To Maximise The Value You Get From A Buyer's Agent

26 July 2017 by Chad Diaz

If you've decided to buy a home by hiring a real estate agent, then you've made a good decision because you've got a professional who will work in your best interest. But finding ways to maximise the value you'll receive requires a little bit of planning, so follow these tactics.

Avoid Calling Listing Agents On Your Own

Sometimes buyers imagine that they could get a better deal by calling listing agents or home sellers on their own and discussing their finances. The truth is that you've hired a professional to do this for you, and they are in a stronger position to negotiate the best deal for you through their training and industry expertise. Keep in mind that listing agents are working on behalf of the seller and not you, so there is no point of you calling them and trying to negotiate a deal on your own.

Make Sure Your Agent Is Well Versed With The Local Market

When buying a property, you probably have earmarked a few key suburbs to look in. Your buyer's agent should ideally be well versed with these suburbs and your local market so that he or she can negotiate the best possible price for you. A general expert on the entire market in Australia is near impossible, so you'll naturally want your agent to have intimate knowledge of the present local market conditions. For example, is the suburb generally safe for families? Does the agent have a fair idea of what other homes in the area are selling for? Can the agent identify specific property issues that may work in your favour? Have a look at your agent's past clientele to get a better idea of their local market expertise.

Settle On Fixed Price In Advance

Buyer's agents don't work for free, so you'll naturally need to finalise a price with them before signing on the dotted line. Some real estate agents work on a percentage commission of the selling price, while others are willing to work with you on a fixed price irrespective of the cost of the house. The latter may work in your favour because the agent will attempt to get the best price for you without worrying about how much he or she is getting paid. 

Purchasing a property in Australia is expensive, so follow these tactics to get the best possible value from using a buyer's agent to purchase a home.

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