Before we get into choosing the Best Buyers agent in Brisbane it is important to know what a Buyers agent is and what can they do for you.
A Buyers agent is a fully licensed property professional that has a strong network in the industry and is able to help you to find and buy property that is listed on the market, or that is off market, whether that be a home or an investment property.
Having a Buyers Agent to represent you can instil confidence in your decision-making and help you see where the value lies in a property.
It can be daunting trying to find the right home for you and your family. It can also be overwhelming to try and find an investment property, especially when you don’t know where to start. And because the selling agent works exclusively for the seller, you can never be confident that the information they are sharing with you is for your benefit.
The major role of a Buyers Agent is to help Clients purchase the right property for the right price. They work for you as the buyer!
Now that you know what a Buyers agent is, let us get into some of the things you should consider so that you work with the best.
1. Buyers Agents should have a lot of local knowledge and strong industry experience.
Most Buyers Agents offer a complimentary consultation. It is wise to use this time to get to know what expertise the Buyers Agent has to offer. They will be sharing with you their experience and knowledge so make sure to ask questions about their time in the industry.
Look for Buyers Agencies that can offer a wide range of expert knowledge. This may be a Qualified Property Investment Advisor to assist with strategy, a licensed Builder to inspect a property initially and then check over building and pest inspections in detail, a home buyer or investment specialist who understands your needs and maybe someone with extensive experience in property management.
2. The Best Buyers Agents in Brisbane will be Qualified.
Every agent must be licensed to act on behalf of clients however real estate is still an industry that is not regulated in regards to what type of advice they can give. Until the industry changes, you need to complete your own due diligence as there are qualifications buyers agents can obtain to ensure they are giving you accredited advice for your personal circumstances.
- QPIA: Qualified property investment adviser is a three-year accreditation course that property and finance professionals can take through the Property Investment Professionals of Australia. This course ensures they are informed and qualified to give unbiased, professional and proven advice to help you achieve your property goals. Click HERE to see a list of Qualified Property Investment Advisors in your area.
- REBAA: The Real Estate Buyers Agents Association of Australia is a membership program for professional Buyers Agents. They conduct extensive research on the agency which involves disclosure of all processes and procedures. This ensures that the buyers agency adheres to a professional code of conduct. If the Buyer’s Agent is a member of REBAA then they are dedicated to do the right thing by the industry and for you. Click HERE for a list of REBAA members. If you Buyers Agent is a member of REBAA, it provides you with peace of mind because it is another layer of protection for the consumer.
- QBCC: The Queensland Building and Construction Commission holds the licences for builders and building contractors. If you are relying on your Buyers Agent to provide advice around building, development or renovation, please check their licence class to ensure they are qualified to give that advice. Click HERE to search or check license details in Queensland. Other States in Australia will have their own building regulatory authority through which a licence check can also take place.
3. Look for a Buyers Agent with strong Google Reviews.
Google reviews are independent and not controlled by the Buyers Agency business themselves. If the buyer’s agent is directing you to their testimonial page on their website, or another page which manages reviews on their behalf, then this is an area that they can control so some poor or negative reviews may be filtered. Google reviews are a great way for clients to rate their honest feedback.
It is important to read other clients’ experience as no one can tell it better than the clients themselves.
Check for lengthy and detailed reviews to get the best understanding of the full experience. Below is an example of a strong google review and click HERE for further examples.
Even better – ask the Buyers Agent if they will put you in touch with previous Clients of theirs so that you can ask the questions that you want directly!
4. The Best Buyers Agent in Brisbane will not have a Sales Pitch to “Make you Millions fast”.
If you are looking into a Buyer’s Agent for the purpose of creating wealth or securing your future I am sure you would have seen a number of Facebook ads on young, rich Buyers Agents saying you can make millions in under 5 years…
Its easy right?…
This is not how property works. “Property spruikers” (it’s what we call them) hurt their clients time and time again. They are in the business to make themselves money and when the time comes to evaluate the performance of the asset purchased they have moved on, closed the business and started again. The buyer is left with an under performing asset and no way out.
If you are talking to a Buyer’s Agent who does not charge you anything for their service – it is likely that you are dealing with a property spruiker! They will be getting paid by the developer or the builder to offload new stock.
5. Buyers Agents should put your needs first.
Of course, ‘your needs’ are completely client dependent as every consumer has a different reason for engaging a particular service.
Does the Buyer’s Agency fit with what you are looking for in your journey and can they help you achieve your goals? If you are looking at sites that have development potential, do they have specialists within their team to provide expert knowledge or a builder who can understand, educate and assist throughout the process?
If you are looking to rent the property, looking for a Buyers Agent that has experience in property management is very helpful as well! Otherwise they should have strong relationships with Property Managers in the local area. No matter what your goal is in buying property, a buyers agent should always put your needs first and customise a strategy to help you achieve your goals.
If you are looking for a family home, make sure the buyers agent that you choose knows the area themselves. They should have intimate knowledge about your preferred suburbs in Brisbane and not only be able to provide advice on property alone, but also help with information relevant to selecting the right location for your family such as ensuring you are in the right school catchment zone, or close to transport.
6. Buyers Agents should not take commissions from others.
Even if the Buyer’s Agent is offering an attractive discounted fee to you, chances are they are only able to do that as others are paying them in referral fees. You want the Buyers Agent to refer you to others in the industry purely based on great service and not because they are giving the Agent commission.
If there is an incentive involved check to see if the Agent is keeping it for themselves or passing on the incentive to you as their client. A common way Buyers Agents can get paid is through developers.
The developer will pay a substantial amount of money to agents to try and sell properties in their estate as oversupply can make it difficult for them to do this naturally through the display homes. This type of property may not be the right one for you but because the Buyer’s Agent is aligned with the developer they may try to push you towards that purchase. Be very aware of not making this mistake. As stated above, the Buyers Agent should always have your best interest at heart.
In terms of fees, a Buyers Agent in Brisbane may charge either a fixed fee, or a commission based on the purchase price. Commissions range from 2-3% of the purchase price, depending on the Buyers Agent you select. Fixed fees are either set, or negotiated up front before the search commences. Either way, buyers agent fees are payable by a buyer who is engaging the service.
We hope these tips have helped you understand how to choose the Best Buyers Agent in Brisbane! If you need help and would like to explore using a qualified buyers agent in Brisbane to help you streamline the process please reach out HERE.