Why using a buyer's agent can give you a major advantage when home hunting

 Finding the right property can be an arduous task, whether it’s a forever home or an investment. It takes time, determination and nerves of steel.

The mere thought of independently engaging a licensed professional who will undertake the research, evaluation and negotiation of the entire property purchase is likely to bring a sigh of relief for many.

For some buyers, a buyer’s agent is invaluable. Ultimately it is a personal preference, as well as a decision dependent upon the time constraints and the financial situation of the buyer.

One major downfall of home-hunting is the substantial amount of time it takes. If the thought of trudging around open homes with the children in tow is as desirable as having teeth pulled, especially after a Saturday morning spent at children’s sport commitments, a buyer’s agent might be a worthwhile investment to   alleviate the stress of finding that perfect home.

There are many reasons to opt for a buyer’s agent. An objective party to represent your own interest obviously has its perks – buying a home can be an emotional process.

Many buyers can become overwhelmed securing a home at auction but having a professional representing your best interest is a method of choice for some. The decisions of a buyer’s agent are not swayed by emotion.

They are experienced professionals who act on your behalf throughout the buying process, and they are familiar with market data and understand the path to purchase. This allows them to maintain a level of objectivity, which is essential during the negotiating stage. Their judgments are driven by research and facts providing the buyer with advice and support.

It is this valuable knowledge that can help to guide investors to the next hotspot. Buyer’s agents strive to keep ahead of their game by using market trends and analysis to help identify key areas for investment potential.

• Related: Is auction or private treaty right for you?
• Related: What makes buyers fall for a house?
• Related: Head over heart: Navigating emotion when house-hunting

Ultimately, they are skilled within all areas of the property transaction, from the initial research, to the bidding and negotiation stage, through to the settlement process.

It is imperative, however, to check the experience and qualification of any buyer’s agent. Before you part with your hard-earned cash (correct, a varied fee is charged) be sure to ask a number of questions: Do they have any particular areas of expertise? How well do they know the market in the area you are looking to buy?

Check their overall knowledge, industry contacts and current professional body membership, and ensure they are a licensed agent with current professional indemnity insurance.

Take time to understand their full-service offering, as well as associated costs, both upfront and ongoing. Speaking to prior clients or obtaining testimonials can give insight.

These are just a few essential questions – remember to conduct due diligence before committing.

Dr Nicola Powell is a data scientist at Domain Group. Tweet your questions to @DocNicolaPowell