Looking to buy a place in Melbourne? Exciting! Stressful! Overwhelming! All of the above. The real estate market moves fast, and finding the right property at the right price is no easy feat. That’s where a buyers’ agent or advocate comes in. He/she steadily does the hard work for you-searching, negotiating, and ensuring that you don’t end up paying too much for a house that perhaps has some hidden mould issues.
But how do you choose the right one? Not all buyers’ agents or advocates are the same. Some are great, while others might be just scamming for bucks quickly. So, before you hand your trust with money into them, here is what to look for in a buyers’ advocate in Melbourne.
1. Experience in the Melbourne market
Real estate is knowing the market; the Melbourne market is a different beast altogether. Prices can vary dramatically between suburbs, and trends change quickly. So, a good buyers’ agent or advocate must have hands-on knowledge of Melbourne’s property terrain, and not just generic real estate knowledge.
2. A Track Record of Success (not simply good talk)
Every agent will say they are the best, but do they have proof? Look for testimonials, reviews, or case studies. A good buyers’ agent should be able to show you successful deals they closed. It’s good when past or current happy customers have great outcomes from their offers.
3. Negotiation Skills
One of the biggest reasons someone hires a buyers’ agent in Melbourne is to avoid being scammed. A skilful negotiator can save you thousands (even hundreds of thousands). You’ll want someone who can play hardball with sellers but will know when to compromise.
4. Transparent Fees
Ah, the money talk! Some buyers’ agents are paid on commission, while others ask for a flat fee. Whichever it is, you must know precisely what you’re paying for. Buyers’ advocates typically charge from 1.5% to 3% of the purchase price or the flat fee equivalent.
What to watch for:
- Hidden fees
- Commissions creating a conflict of interest
- Agents who push you toward pricier properties just to cash in more commission
5. Good Communication and Trustworthiness
Look for someone easy to work with since you will work closely with your buyers’ agent. If they are overly pushy or dismiss you, that is a no-no.
Signs of a good agent:
- They take the time to understand your needs
- They explain things well
- They are honest about the potential downsides of a property (and don’t just try to sell you on everything)
6. Network of Connections
Great buyers’ agents will not just help you find a house but will also connect you with trusted professionals, such as building inspectors, conveyancers, and mortgage brokers. This contact can make your life easier and save you time and worries.
7. Licensing Credentials
Melbourne’s real estate game is regulated; thus, a reputable buyers’ agent or advocate should have the qualifications.
Final Words
A good buyers’ agent in Melbourne will make house hunting much easier if you know who to choose: an experienced buyers’ agent is perceptive when negotiating, maintains transparency, and communicates well. If you feel rushed, pushed, or confused by an agent, trust your instincts and walk away – there is better help out there.
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