Critical Questions to Ask Buyer Agents Before Hiring | Propertybuyer

By Rich Harvey, CEO and Founder Propertybuyer

A buyer's agent is your secret weapon in the competitive property market. Whether you're an investor seeking returns or a homebuyer searching for the perfect abode, a skilled agent can save you time, money, and stress. To help you find the right partner, we've compiled a list of essential questions to ask buyer agents before you hire them. Let's empower you to make an informed decision. 

Key Questions To Ask Your buyers’ Agent:

Are you a member of REBAA?  

Ensuring you work with a qualified buyer's agent in Australia is crucial. A great starting point is to verify their membership with the Real Estate Buyers Agents Association of Australia (REBAA). REBAA sets industry standards, and membership indicates a commitment to professional conduct. While not mandatory, opting for a REBAA-accredited agent provides an extra layer of assurance. 

Is your buyer's agent fully licenced?

To find the best buyer's agent in Australia, qualifications matter. A Certificate of Registration is just the starting point; a full licence signifies a higher level of expertise and experience. Ensure your agent is fully qualified to independently advocate for your property buying needs. 

How is your pricing structured?

A clear understanding of your buyer's agent's compensation is vital. A fixed fee model aligns their interests with yours, ensuring they prioritise getting you the best possible deal. Commission-based agents might have divided loyalties. 

Are you an exclusive buyer's agent? 

While not always a deal-breaker, it's worth considering if your agent also sells properties. A full real estate licence allows them to both buy and sell, which could potentially create a conflict of interest. Exclusive buyer's agents focus solely on your best interests. 

How many off-market listings have you secured in the last 2 years? 

A proficient buyer's agent will have access to a range of off-market properties or 'silent sales.' These opportunities can be crucial, especially if you're searching for luxury properties. If your buyers’ agent lacks access to such listings, your options as a buyer might be very limited. 

What was the timeline from sign up to purchase for your last 3-5 clients? 

his process can vary significantly from client to client. However, asking about the most recent clients provides a more accurate picture of what to expect rather than relying on an average timeframe. 

Choosing the right buyer's agent can make a significant difference in your property purchasing experience. Asking the right questions is crucial to ensure you're working with an agent who is well-equipped to meet your needs. 

Firstly, ask how long they have been working in the real estate industry as a buyers’ agent. Practical experience in the industry and knowing how to research, negotiate, complete due diligence and transact property is essential. Avoid agents with less than 5 years-experience.  
Next, inquire about their experience with off-market or silent listings. A proficient buyer's agent should have a track record of securing these exclusive opportunities, which can be particularly beneficial if you are looking for high-end properties. If your agent lacks access to such listings, your choices might will be limited. 

Next, ask about the timeline for recent clients. Requesting details on how long the process took from start to finish for their last 3-5 clients can provide a realistic expectation of what you might experience, rather than relying on average timelines that may not reflect current market conditions. 

Lastly, confirm their credentials, qualifications and memberships in professional associations like the Real Estate Buyers Agents Association of Australia (REBAA) and the Property Investment Professionals Association (PIPA). Ensuring they are properly qualified and adhere to industry standards can give you confidence in their professionalism and ethical standards. 

For a comprehensive list of questions to ask your real estate agent when buying, and more insights into selecting the perfect buyer's agent, visit Propertybuyer, you'll find detailed advice on what to look for and how to ensure your agent can deliver the best possible outcomes for your property search. 

Understanding the right questions to ask real estate agents when buying can significantly enhance your chances of securing the perfect property. Whether you're looking for off-market opportunities or need a detailed timeline of the buying process, being prepared with these questions ensures you select an agent who can meet your specific needs and deliver the best outcomes.