When it comes to navigating the real estate market in Perth, enlisting the help of a qualified agent can be a game-changer. A buyers agent serves as your advocate, guiding you through the complexities of property acquisition and ensuring your interests are protected. However, not all are created equal, and it’s crucial to ask the right questions before making your decision.
REIWA data has revealed that Perth’s housing market has not only shattered previous records but surpassed the peak prices of 2014, surging to an impressive new high of $560,000. Forecasts also point to continued growth, with Perth property prices expected to increase by 8%. Notably, the median house price in Perth currently stands at $625,000, significantly lower than the median prices in Sydney and Melbourne’s median price of $924,000.
This article will explore the top questions to ask a buyers agent in Perth, helping you make an informed choice and secure your dream property in this vibrant Western Australian city.
What Is Your Local Expertise?
Perth’s real estate market is unique, influenced by factors like its sprawling suburbs, proximity to the coast, and mining industry. To ensure your agent is well-versed in Perth’s real estate landscape, inquire about their local expertise. Ask about their knowledge of specific neighbourhoods, recent market trends, and any specialised insights into Perth’s property market.
Can You Provide References from Perth Clients?
A reliable agent should have a track record of satisfied clients. Request references from clients they’ve assisted in Perth. Speaking with past clients can offer valuable insights into the agent’s performance, professionalism, and success in helping buyers secure properties in the Perth market.
Are You Licensed and Accredited?
In Western Australia, agents are required to be licensed and accredited by the Real Estate Institute of Western Australia (REIWA). Confirm that your potential agent holds the necessary licences and accreditations, ensuring they operate within the legal framework and adhere to industry standards.
What Is Your Fee Structure?
Understanding the costs associated with hiring a buyers agent in Perth is essential. Inquire about their fee structure, including any upfront fees, commission rates, or additional charges. Be sure to compare these fees with other agents to ensure you’re getting a competitive rate.
How Do You Handle Negotiations?
One of the primary roles of an agent is negotiating on your behalf. Ask about their negotiation strategy and experience. Are they skilled at securing favourable terms and prices for their clients? A strong negotiator can make a significant difference in the outcome of your property purchase.
Do You Have Access to Off-Market Listings?
Some of the best properties in Perth may not be publicly listed. Experienced agents often have access to off-market listings that can give you an advantage in a competitive market. Inquire about their access to such listings and how they use this advantage to benefit their clients.
What Is Your Network of Industry Contacts?
A well-connected agent can tap into a vast network of industry contacts, including real estate agents, builders, and property developers. A strong network can open doors to exclusive opportunities and provide valuable insights into the local property market.
Can You Help with Due Diligence and Inspections?
Due diligence is essential when purchasing a property, and your agent should assist you in this process. Inquire about their approach to due diligence and whether they can recommend reputable inspectors, surveyors, and other professionals to assess the property thoroughly.
Hiring a buyers agent in Perth can simplify your property search and enhance your chances of finding the perfect home or investment. However, asking the right questions is crucial to ensure you choose the right agent for your needs. By discussing local expertise, references, licensing, fees, negotiation skills, access to off-market listings, industry contacts, and due diligence, you can make an informed decision and embark on your property-buying journey with confidence in the vibrant and ever-evolving Perth real estate market.