Some Buyers Agents fees are now as high as 3% of the value of the final sale of a property, and this has many Australians questioning is their services worth that much and does it pay to use their services?
Let us take nothing away form good agents as to many their service over the years have proved invaluable, helping people through the entire process and negotiating hard for the right price based on their local knowledge of their local market price points.
However, in every industry that involves sales and finances, there are always two sides to the coin. Buyers must check the qualifications, credibility and experience of the agents they are about to hire.
Many can offer what they call a bespoke service, but cases are arising around Australia that agents have been receiving kickbacks from developers and even receiving a commission from sellers, completely unethical.
For the licensed agents out there who work hard have brought up a myriad of reasons as to why this cancer has crept into the industry. Anything from poorly enforcing state and territory laws with poor standards to unscrupulous agents becoming chameleons between representing themselves first as buyers and then as sellers were responsible for misleading many.
Here are a few things to check before diving straight in:
How are they paid? Does one fee cover all?
How experienced are they? Can they interpret building reports?
Every state and territory has different licensing requirements so take a little time and do some research on the relevant body and get them checked.
Are they a member of any checkable relevant professional institute?
For us the kicker is can they provide real testimonials, references, and proof of any sales? Just because an agent might not have made a deal it doesn't make them an unscrupulous agent, but this works both ways either they are or look for someone with more experience.
If you are looking for one that ticks the boxes click here for the right Buyers Agent Batemans Bay as a professional buyer’s agent is invaluable in the most significant financial transaction of your life make sure you’re with the right one.