For people who are looking to buy a new property, a Buyers Agency can be your partner to help you succeed in property searching. If you are new to buying real estate, the first thing you need to learn about is a buyer’s agent. This agent is a person who will work with you until the end of the transaction.
What Is A Buyer’s Agent?
A buyer’s agent or a property search agent is a representative of the people who are looking to buy real estate. A buyer’s agent specialises in searching, assessing and negotiating. They work for and act on behalf of the buyers (clients). The agent will be an assistant who helps with every part of the estate transaction including the legal process. The most important thing about an agent is their ethical behavior which can show you the professionalism of that person.
What’s the Difference between A Buyer’s Agent and A Seller’s Agent?
People usually misunderstand the difference between a buyer’s agent and a seller agent. These agents are representatives for different people.
A buyer’s agent represents and works on behalf of a buyer. The agent will try to get the best property that suits the buyer’s needs by researching the entire market not just listings. The other type of agent is not the owner of the estate, on the contrary, a seller’s agent works for the estate owner. They aim to sell the property at the best price to satisfy the property owner and get commission.
Beware of agents who works for both parties. Some agents are pretending to help the buyer but only offer properties from owners that they are in contact with.
What Does A Buyer’s Agent Do Exactly?
As the name implies, a buyer’s agent has to work for the best interests of the buyer. Check the lists below and understand how the agent works before making a decision. Make sure that the agent works with you as a friendly partner.
Planning
A good plan leads to good result. A good buyer’s agent should listen to your needs and help you to search for the best properties. Look for agents who can clarify with you information about the property industry and make you understand everything easily. Whether you want to buy a property to live in or one for investment, an agent has to find one that best fits with your needs. If you are looking for a house, the agent should be concerned with location and your budget. If you want an estate for investment, the agent has to be able to find and advise you about capital growth or possible returns.
Researching
A good buyer’s agent has to work hard on researching a buyer’s requirements. They should be able to educate the buyer about how to target properties, areas, market condition, recent sales in the area and any other relevant information.
Shortlisting
After researching the information, the agent should be able to give the buyer a list of properties that match their requirements. The agent has to provide a summary of each property including the advantages and disadvantages. Also they have to be able to clarify things and give advice to the buyer as well as arranging the times to inspect the sites.
Evaluation
When you find the property that best suits the specified requirements, so begins the process of market evaluation. The agent has to evaluate the market situation, the value of the market and any insightful information at that time.
Negotiating
Lastly, the buyers agent has a responsibility to deal and negotiate with the seller to get the best price and the best terms for the property.