05 Nov Using a Buyers Agent
Real estate buyers agents (or buyers advocates as they are known in some areas) are a great service for people who are looking to buy property and want to have an expert, professional adviser on their side.
Don’t be confused about the role of the sales agents you’ll come across when you’re looking at property. They are hired specifically by the people who are selling the property and they are contractually obligated to represent the vendors’ best interests and to get the highest possible selling price. They work for the seller, not the buyer.
A property buyers agent is responsible entirely to the buyers, and to buy the best possible property for each client, at the best possible price.
Buyers agency services
The core service offered by businesses like Finders Keepers Buyers Agent, is property search. Oroperty consultants prepare a detailed brief of the type of property you’d like to buy, then search the market for suitable properties for sale, evaluate them and present the best of those for you to consider.
Buyers agents will also bid at auction for you and/or negotiate the purchase price and terms. Most will do this either as part of a full property search, or you can ask them to do this on a property you have already found yourself.
All professional buyers agents should have the knowledge and experience to give you extensive advice on the issues you may face and options you may have in getting a property that best fits your needs and expectations.
Key things you should check about your buyers agents
Are they completely independent of selling agents, vendors, property developers and project marketers? This is absolutely critical, so you know you will get objective advice on choosing and buying the property that is best for you.
Do they refuse to accept any fees, commissions or ‘kickbacks’ from vendors and their representatives? Again, you don’t want to think that your agent might have any reason to recommend one property over another except that it’s in your best interests. (The payment system is different in other parts of the world, for example in North America, where it is standard practice for buyers agents fees to be paid out of the commission paid by the vendor to the selling agent.)
Do they represent buyers exclusively and never sell property?