Buyer’s agency is relatively new to the New Zealand property investment sector. The proliferation of the buyer’s agent industry is driven by Kiwi investors becoming increasingly more professional in their approach to property investment. Engaged the right way, a buyer’s agent can accelerate the growth of your portfolio as well as add to your investment momentum – essentially, become your secret weapon in the property market.
If you are considering the services of a buyer’s agent, here are some tips to help you start on the right foot:
1. Know what a buyer’s agent does
Simply put, they are agents who act on behalf of buyers. However, the range of services offered by buyer’s agents differ across the board. Focusing on the feasibility and acquisition end of the investment process, a buyer’s agent’s role ranges from researching, identifying and evaluating investment opportunities to negotiating, purchasing as well as overseeing settlement. Essentially, these agents are there to help you acquire the right property at the right price.
2. Know what you need
In an age of information overload, bottom-line-focused-investors elect to do without a buyer’s agent and instead prefer to manage the acquisition stage themselves. That is fair enough. But what about those investors who lack the knowledge or time to properly evaluate an investment opportunity? What about those who have an investment goal in mind but no strategy in place? Or those who are not confident negotiators and cannot secure properties at the right price? This is where buyer’s agents come in.
Having a clear understanding of what you need your buyer’s agent for is one way to make sure you get the most out of the agency and its costs.
3. Is your agent suitably qualified/experienced?
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