Living in Sydney could be a dream come true for any person. If you live in the state capital of New South Wales, you have the advantage of being close to some of the biggest companies in Australia. It means you have plenty of opportunities to get your dream job. A home in Sydney also means that you can marvel at the beauty of the Sydney Opera House anytime you want. If you are the outdoorsy type of person, you will never run out of spots to visit in the city, since the Royal Botanic Garden and Western Sydney Parklands are just nearby.
But if you want to own a house in Sydney, you must prepare to pay more compared to the other major cities in Australia. According to a recent report, the mean house price in the city during the Q1 of 2020 reached $890,400. It means that it is over 25% higher than the national mean house rates. You must also know how to find a good property with the best value for your money. And for that, having a property buyer’s agent in Sydney is a must to help you find the best house for your dreams.
If you have no idea on the right way to find a good property buyer’s agent, here are three questions that you need to ask when hiring them:
Question #1: Do You Have A License?
While each state and territory in Australia have different real estate legislation, all buyer’s agents must hold a license to operate in the real estate market.
If someone is applying to work as your property buyer’s agent in Sydney, you may check with Service NSW to verify if that person has the appropriate license to work for you.
The licensed property buyer’s agent should only work for the buyer, which means the person must not have any involvement in any selling transaction anywhere in Australia.
Question #2: Do You Belong In Any Associations?
Real estate professionals usually belong to at least one industry association. It allows them to know the latest practices in their industry.
Ask your prospective buyer’s agent if he or she is part of the Property Investment Professionals of Australia or the Real Estate Buyers Association of Australia. They may also belong to one of the local real estate groups that operate in Sydney.
If they belong in any of these groups, they need to abide by all the strict rules and regulations required to maintain their membership. It will assure you that they will practice professionalism as expected by their organization.
Question #3: How Are You Paid?
The property buyer’s Agents work solely for buyers, which means that you are the one who will pay for the services if you choose to hire them when buying a property.
The majority of buyer’s agents work independently. Since they have the legal obligation to work for your best interest as a buyer, you need to pay them based on their services. So expect them to charge you for helping them find a property in the current listings.
Some agents may also tell you that they will also take a sales commission kickback. You may negotiate it properly so you can get a good deal for your property purchase.
Looking for someone who you can trust to help you find the best property in Sydney may not be a breeze. But if you can get the best answers for these questions, you can find the right agent to represent you when buying in Sydney’s highly competitive real estate market.