Purchasing a property with an investment Property Buyers Agency in Perth is the right choice for real estate investors. Together they offer both new and seasoned investors a stepping stone to learning all about real estate investments. Apart from teaching you how to invest, a property professional can advise you about avoiding costly mistakes.
Since you are entrusting an investment buyer’s agent with a large amount of money, you should know how to choose the best person. Here are five tips on how to select the best investment Buyers Agent in Perth.
#1 EXPERIENCE IN THE INDUSTRY
Knowledge and expertise are the most important criteria. Inquire about the property specialist’s buyers agent experience. How many years have they been practicing? In addition, investigate the investment company they represent. Apart from experience, they must have a proven track record with a vast real estate portfolio. How much do they know about the job and economic trends? This information has a significant impact on how well an investment property will perform in the market in the short and long term.
#2 ABILITY TO MEET YOUR GOALS.
What goals do you hope to achieve with your investment property? Are you focussing more on growth or property yields? How do you plan to meet these goals, i.e., via residential or commercial real estate investments, or both? Or are you looking at applying a value add strategy to reach your goals? A property investment buyers agent can help you decide which strategy works best to meet your goals and create some clarity.
#3 SELECTION OF INVESTMENT PROPERTIES
The real estate specialist you choose must explain how they select investment properties. Due diligence is vital when purchasing investment properties and there are many things to consider and investigate. Although an experienced specialist will be familiar with the importance of real estate analysis, you need to be sure it meets your goals.
#4 FIND A BALANCE BETWEEN FEES AND EXPERIENCE
The fees to hire an investment property buyer’s agent varies across the industry. This depends on the size of the team and the investment property types offered. It is wise to shop around for a property specialist with affordable rates, but do not simply select someone because they have low fees. You need to weigh the cost with their experience. If you plan to hire someone with zero experience because they had the cheapest rates, then you might end up losing money on bad property investment purchase. A great buyer’s agent will ensure that you purchase the property under market value and the fees associated will be offset with getting you a great property at a good price as well as ensuring all the due diligence is carried out so that there are no nasty surprises after your purchase.
#5 OFFER REFERENCES
Seek references from investors who have worked with the investment property specialist in Perth in question. This can give you candid insight into their abilities. Be sure to ask whether the specialist was able to help achieve the investor’s goals. What was the real estate investor’s return on investment?
To gain more insight into the property specialist, conduct thorough research online. Look at the comments and reviews left by other investors.
Purchasing investment real estate is a life-changing decision. An investment buyer’s agent should have experience in the industry, suitable fees, sound references, explain how properties are chosen, provide important due diligence and sales evidence, and help meet your goals.