Inner West, as the name suggests, is the inner-western region of Sydney, NSW. The region has a population of around 182,038, of which approximately 38% of residents rent their homes. The average listing price for residences is $1,827,000, up 10.72% from the year before and 22% from the two years prior. The typical rental value is 2.26%, and the median weekly rent for a home is $800. And after going through these figures, you have probably got enticed to invest in real estate in Inner West; anybody would.
In the Inner West, standalone residences account for 25% of occupied private homes, followed by row or terraced homes (40%), semi-detached dwellings (33%), and other dwellings (2%). This means you can have plenty of options depending on your specific needs and budget. However, this is possible only when you have a reliable, knowledgeable, trustworthy real estate agent alongside you. Yes, you read it right! So before you search for your dream home, you must find an agent who can walk you through the process. But because there are so many choices, finding the right professional could be difficult. And you should abide by the below-given recommendations to select the best partner for your real estate transaction; continue reading!
1. Take Personal Recommendations
You can ask your contacts for recommendations if you’re looking for a top-notch real estate agent. Selecting a person with prior experience working in the area/society you are interested is ideal. Different buyers have various needs; for example, first-time buyers have different needs than repeat buyers or homeowners looking to downsize. Another option is working with a “referral agent” who refers potential clients to other agents in exchange for a commission. Also, ask your peers, relatives, friends or neighbours for referrals who have recently invested in the Inner West region.
2. Consider the Qualifications, Experience and Licenses
You should confirm that your agent possesses the required credentials and state-issued licences. The most prevalent job titles are real estate agents, Realtors, and brokers, but some specialised professionals only work with people over 50 (Seniors Real Estate Specialists) and active-duty military personnel (Military Relocation Professionals).
Meanwhile, the requirements for obtaining a real estate licence vary by state. And real estate brokers are licenced agents who have met the state’s additional education requirements. A licenced professional who assists house and business buyers and sellers is a real estate agent. Real estate brokerages are frequently owned or run by brokers. Although brokers can go it alone, all agents must report to them.
3. Consider the Agent’s Enthusiasm and Responsiveness
A responsive realtor can help you modify your search criteria, act fast on appealing listings, and provide you with the specialised attention you require. And you should agree on the best contact method with your real estate agent. For instance, if text messaging is your preferred mode of communication, make sure your broker accepts it. Your agent should respect and use email as the default communication mode if that is how you wish to be contacted. Also, make sure the agent you choose is willing to help you through your endeavour and find a perfect home.
4. Discuss Your Needs With the Agent Beforehand
Asking questions of a few job prospects when they are in an interview setting can reveal a lot about a realtor’s abilities, work ethic, and areas of interest. You want to work with a dependable partner who has shown success in the industry, can respond to your questions about real estate in Inner West and can solve your problems without needing detailed justifications. So, ask about prior consumers or clients, while your real estate agent should have no trouble offering references. And by contacting them, you may discover important details like how recently they were clients, the type of home they bought or sold, and the transaction details.