The whole problem with the negotiation process in the world of real state lies in the fact that, most of the time, it’s an uneven struggle we’re talking about. On the one hand, the current owner of the property that’s being sold has a representative in the form of a real estate agent, whereas the buyer is supposed to support their own interests. This is problematic from the start, seeing as how a professional is pitted against the layman, which means that, if the finesse ends up being a determining factor, these negotiations can only go one way.
This is why more and more people choose to hire a buyer’s agents to represent them and this is, beyond doubt, a rational decision to be made. However, finding the right person for the job is far from simple and the issue of adequate representation may make a difference between a resounding success and utter failure. So, here are several traits to look for when considering which buyer’s agent you should hire.
1. Someone you have a compatible personality with
One of the first things you need to keep in mind is the fact that buying a home for yourself and buying a home for a client are not the one and the same thing. This is where you can benefit from having a matching personality with your buyer’s agent. Keep in mind that you might spend hours and hours on the phone and face-to-face meetings with this person, which is why working with someone you find vexing, might be quite problematic.
Sure, a true professional is always patient and has a way of keeping themselves in check but this is never good enough. What you need is someone who genuinely understands you, someone you can collaborate with, without investing too much mental strain. The simplest way to check this is to take a look at their private social media accounts and see their interests and personalities. You might be surprised just how much you can discover about a person when they don’t know they’re being researched.
2. Communication channels
Another thing you need to keep an eye out for are the communication methods that the person prefers to use. For instance, there’s a survey claiming that millennials prefer texting to the actual conversation, which is the first thing to keep an eye out for. Even when it comes to texting, what good is a buyer’s agent who uses email as their primary tool of conversation, if you’re the type of a person who checks their inbox twice per month? Start chatting with the person in question and see where things go from there, just keep in mind that channels of conversation may make a greater difference than you may expect.
3. Industry connections
The next thing you need to inquire about is their previous history with people belonging to this industry. It goes without saying that every market has its own power-players, rules, regulations, loopholes and practices. This is why getting someone on the inside may make all the difference in the world.
All of this combined is also a great reason for you to look for buyer agents with headquarters in the area in which you intend to find the real estate in question. For instance, those looking forward to buying a property in NSW (residential or commercial) need to look for a buyer agent in Sydney. Those from abroad might benefit even more from this deal, seeing as how they’ll have someone to check the property for them, thus helping them avoid unnecessary trips.
4. Negotiation techniques
Finally, keep in mind that the fact that your potential buyer’s agent is persuasive definitely works in your favor. Try driving a hard bargain and see how things go from there. Think about it, if they are unable to make a compelling argument why you need to hire them, how are they going to persuade the real estate agent to lower the price or agree to your terms? The reason why this is so important is due to the fact that it’s one of the rare industry-related talents you will be able to check on your own. Even if you’re not the kind of person who feels comfortable with the idea of bartering, this is yet another reason why you need someone great at this on your side.
At the very end, even though you never picked a buyer agent before, this doesn’t mean that the situation as a whole is necessarily new for you. Think about it for a second? How is this any different than choosing a car mechanic, a plumber or a company to outsource part of your business to? The only difference lies in the fact that, due to the high value of the deal, you need to be 100 percent sure that the person in question is the right one for you. So, take your time, do your research and don’t be afraid to consider the situation from all aspects.