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Kinds Of Buyers Agents And Their Role
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A property buyers agent is a professional who works on behalf of a property buyer. This agent assists his client during the entire process of purchasing. It is his responsibility to source some of the best properties that are completely in sync with the client’s requirements and negotiate the most suitable price with the seller.
Buyers agents may vary from a one man agent to somewhat a bigger organization comprising of around 50 or more people.
* The local property experts are a great resource for some of the most lucrative off-market properties. These agents have their tie-ups with several estate agents, and share a good rapport with lawyers, private bankers, investment bankers and likewise. Also many a times, these agents are well acquainted to the owners of the properties that are for sale.
* The bigger companies are well organized and well connected. Although these buyers agents are not into direct dealing with private property owners or the off-market properties, but are highly capable of helping the client with all the necessary paper work, thus taking away his entire burden.
* There are independent buying agents who act as mediator between the seller and the buyer.
At time of picking the services of a buyers agent, it is highly recommended to contact more than one such agent and compare their charges as well as other aspects. Also the market reputation of the agent can be obtained from his previous clients who have dealt with him at any point of time.
A buyers agent can also suggest home inspectors and financing companies they have worked with before, which can all in all, be quite useful to the buyer. Other services offered by a buyers agent are: introducing the buyer to the lender; email listings that befit his requirements; check on the availability; making appointments with sellers; and driving the buyer to the prospective properties.
From a range of buyers agents, a few common ways of making one’s pick is through referrals by friends and relatives, internet search or open house interactions. Do not forget to go through the agent’s website to check on his authenticity and previous record.
Seller’s agent: is one who is contractually obligated to help the transaction happen in favor of the seller, which means at a price that is closest to the asking price.
Due to the declining value of property in Australia, a seller agent as well as a buyers agent do not prefer to deal with another agent on the other side, as this surely means sharing commissions.
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