Purchasing property is one of the biggest financial decisions you can make. As a buyer in Brisbane, experienced real estate agents in Brisbane like Penrose Real Estate would guide you through the process and this experience is invaluable. However, not all agents operate the same or have the same level of expertise. Asking the right questions upfront helps you determine if an agent is truly a good fit. Here are five key questions savvy homebuyers should pose to prospective agents in Brisbane before committing to work together:
What Brisbane suburbs and property types have you recently sold?
An agent active in the local market with recent sales under their belt understands current property values better than out-of-touch agents. Ask for details on suburbs, property types, sale prices achieved, and days on market. This benchmarks an agent’s experience while signaling if they regularly work in areas matching what you seek. It also verifies if they can accurately value and market properties to sell at fair prices quickly.
How is your commission structure, and what listing services do you use?
Commission details and marketing outlets can vastly impact the effort an agent puts into selling your home. Most Brisbane agents charge around 2-3% commission split between buying and listing agents. Ensure rates are competitive and the split incentivizes your agent to achieve top dollar. Also, ask about their inclusion of listings on REA Group sites realestate.com.au and realcommercial.com.au. Maximum exposure there is essential nowadays.
What can you tell me about current market conditions in Brisbane?
You want an agent actively tracking local market trends, not just going by outdated stats. Quiz them on today’s pricing, upward/downward shifts in different suburbs, best-performing property styles, average days on market, auction clearance rates, etc. Their understanding of micro Brisbane market forces indicates how well they can advise you on offers, pricing strategy, and negotiating sales in specific areas.
Can you share some references from past Brisbane buyer clients?
An agent unwilling to provide references may be masking inexperience or negative reviews. Speaking with past first-hand buyers gives invaluable insight into working with that agent. You can ask those references about strengths, weaknesses, responsiveness, negotiation approach, and if they’d use that agent again. Verbal reviews often show more about aptitude than marketed testimonials.
How would you negotiate the purchase offer/price if you were me?
Ask an agent to walk through their negotiation playbook to get a feel for their skills in action. Their strategy, communication style, leverage tactics, and compromising principles will shine through. Ensure you feel comfortable with their methods and believe they can secure you the best price. Ask follow-up questions to pressure test their abilities.
Making a large property purchase without the proper representation can derail your financial goals. By asking these five critical questions, Brisbane homebuyers can better identify and partner with agents who suit their needs. You want someone who knows area values intimately, leverages effective promotional avenues, stays abreast of local trends, garners great references, and prides themselves on shrewd negotiations. Finding that alignment sets you up to get the ideal home at the best possible price.
Key Takeaways:
- Query agents on recent local sales to benchmark experience
- Verify commission rates incentivize your agent appropriately
- Ensure they understand latest market conditions influencing pricing
- Get references to hear first-hand reviews from past buyers
- Pressure test negotiation skills for purchasing at fair values
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