A buyer’s agent or advocate should make the process of finding a new home easier and less stressful, but are they worth the money?
The term “Buyer’s Agent” used to be little known and is slowly becoming more common. But what is it, who is it, and why is it important to “have one” when buying property in any market?
Firstly, a buyer’s agent is a property professional hired by home buyers to represent throughout the property buying process. These agents are distinctly in the corner of the buyer, ensuring the buyer is properly guided, supported, and is represented fairly in an often cut-throat, seller-focussed real estate world.
A buyer’s agent is a licensed property professional who has extensive industry and market knowledge. Their main aim is to alleviate buyer’s stress, save time, and ensure the purchaser gets the best and most suited property at the right price.
It is the Buyer’s Agents role to find, inspect, negotiate and bid on the behalf of their property buying client. It’s a buyer’s agent’s aim to assist their client in feeling confident at all stages in the process, in control and well-versed at all times of the property buying journey. Having a buyer’s agent on your team is designed to relieve the stress and hassle throughout what some may say is the most challenging time of their lives.
Buyer’s Agents live and breathe property and can help provide that feeling of safety and certainty throughout the search, evaluation and negotiation of buying real estate on behalf of the buyer.
While a real estate agent or selling agent works for the seller/vendor of the property, a buyer’s agent works for you, the buyer. It is their absolute priority to ensure you find your dream home, or most perfectly suited investment, at the best price.
What does a buyers agent do?
A good buyer’s agent generally offers three types of services – a full service, a negotiation service, and an auction service. After understanding your situation they will recommend the best service for you.
- The full service sees a buyer’s agent work with the buyer from day one to the day the contract is signed (and sometimes beyond). Using a client’s detailed criteria, they will search for the ideal property and negotiate the purchase of the property, whether by private sale or auction.
- A negotiation service is often used where a buyer has already found the property they would like to buy but needs assistance with determining the true market value and negotiating the best price to secure the property.
- Buyers may also enlist the help of a buyer’s agent purely to bid for them on a home they have already chosen at an auction. This service is particularly useful if the buyer lives interstate, or internationally. Some buyers prefer to be represented at auction, even if local, as having an experienced and objective buyers agent on the team for this purpose ensures they do not overbid or overpay.
REX Real Estate agency is based in Northern, Western & South Eastern Suburbs of Melbourne and we specialise in residential and commercial properties and can assist as Buyers Agents or Real Estate Agents. Contact us via our website www.rexrealestate.com.au or call at 0405 100 003
