A buyer’s agent is a licensed professional who helps facilitate the purchase of a property on behalf of the buyer. They assist with searching, evaluating and negotiating the price of the buyer’s potential property. It’s important to note that these individuals are not sellers of real estate.
Buyer’s agents often offer two tiers of service – the full search service, and the negotiation/auction bidding only service.
The full search service has the agent sift through the market, shortlisting any properties that meets the client’s criteria. The shortlisted properties are then evaluated and negotiated via a private treaty or auction bid.
The negotiation or auction bidding only service is for clients who wish to search for properties on their own accord, and have the agents deal with only the negotiation and bidding.
Why choose a buyer’s agent?
- Buyer’s agents increase your property scope – you’ll have a much wider range of options to choose from, as they have access to non-publicly listed properties
- Instead of having your head buried in newspapers on the weekends, you can better allocate your time while you have a buyer’s agent take care of your shortlisting
- A professional agent is highly trained in the delicate art of negotiation. Use their experience to your advantage and have them obtain the lowest possible price
- A buyer’s agent can help you seek properties in better locations with good prospects.
So are buyers’ agents a cost effective solution? Many people think so. Their fees are generally reasonable in the grand scheme of buying a property – in the long run they will most likely save you money, time and stress.
Once you’ve found the property you are looking for, remember to organise a building inspection with Houspect to ensure what you are buying is safe and sound and free of significant defects