Media outlets that cover the property market in Australia (and around the world) are abuzz with coverage about the ever-falling housing prices in Perth. While property in other parts of Australia and the rest of the world are reaching all time high prices, those who are trying to sell their homes or commercial real estate in Perth are faced with lower investment returns than ever.
This down turn in the market has wreaked havoc on the settlement agent industry. Opportunistic newcomers and upstarts with little experience have entered the settlement game without knowing much about the business at all, and are offering cut throat rates in an attempt to gain new clients. A price war has ensued – but what about you, the consumer?
While ultra low rates are attractive, it always pays to ensure that you are not simply choosing a settlement agent based on their low advertised price. The old adage in business that ‘you get what you pay for’ is often true in this industry! While a competitive price is definitely part of the equation, when choosing your agent you need to make sure that they have the experience, the features you want and the positive reviews to make their fee worth the cost.