04 Feb Difference Between a Real Estate Agent and a Buyer’s Agent
Ready to house hunt but are confused by some of the complex real estate jargon? You are not alone! Even the most well-versed home buyers and sellers can be at a loss when fully comprehending the who is who and what is what in the real estate industry.
Nonetheless, whether you are in the market to buy a home or getting ready to list your property for sale, it is crucial to grasp a few real estate basics, including the correct terms for the most significant players in your real estate deal. To give you a better comprehension, this blog seeks to guide you on the difference between a traditional real estate agent and a buyer’s agent in Queensland.
What Is a buyer’s agent Called?
In an ideal real estate transaction, sellers hire a listing agent to help them market and sell their properties. Potential buyers can enlist their separate professional, called a buyer’s agent, to help them find and secure a home. As a buyers representative in a real estate transaction, a buyer’s agent has a legal obligation to protect the buyer’s interests and works towards getting the best deal possible for the buyer. A buyer’s agent guides the buyer through the home-purchasing process.
Is It Worth Using a buyer’s agent?
In real estate transactions in Australia a significant percentage of buyers and sellers work with real estate agents. Thus, whether you are in the market for a new forever home or an investment property, enlisting the services of a buyer’s agent such as The Property Baron is a smart investment for many reasons:
· Hiring a buyer’s agent means that you have a real estate professional who has your best interest at heart.
· A buyer’s agent can bring deep knowledge and understanding of the market: From average price points to neighbourhood safety rankings, a local agent is familiar with the location inside and out and can help you make a more conversant decision. Additionally, the know-how they bring to the table ensures that the buyer gets the best property at the best price possible.
·A good buyer’s agent will also help with all negotiations, paperwork, and legalities. The buyer’s agent also ensures that the house you find is one you would wish to live in and be something you can afford.
So, why should you struggle to look for the ideal property yourself when you can hire or enlist the services of a buyer’s agent? At The Property Baron Buyers Agency, we have a team of enthusiastic and professional buyers’ agents who can help simplify the whole real estate transaction process for you. While dealing with the realities of the current market and possible budget constraints, we can help save you tons of time and money on the road to your new house.
Selling agent VS buyer’s agent
The difference between a buyer’s agent and a selling agent is who they represent.
A buyer’s agent works exclusively for the buyer, whereas the selling agent works for the vendor (seller). A buyer’s agent does NOT sell real estate and is paid a fee by the buyer.
BY LAW an agent cannot act for (and accept a fee) from both parties in the transaction.
How Does a buyer’s agent Get Paid?
Essentially by the buyer. That’s because a Buyer’s agent is an independent, unbiased professional who doesn’t get any kickback or commissions from third parties.
What Goes on in a Real Estate Transaction?
A real estate transaction is a procedure whereby a seller offers their property for sale, and a buyer agrees to buy it. There are several steps involved in purchasing a property, and they vary depending on the type of transaction and state regulations. In Queensland, before settling a real estate transaction and before the property title transfers to the buyer, many activities and tasks must be completed on time. The real estate agents involved are primarily responsible for these tasks. Nevertheless, the buyer and seller must complete their tasks promptly.
Hiring a buyer’s agent at The Property Baron Buyers Agency can come in handy as our agents can guide our clients through the real estate transaction process. Additionally, we can be at your disposal for any concerns or queries. Below are some of the things that our buyer’s agents do.
- Find the right property. After determining what clients are after and what they can afford, our buyer’s agents will schedule appointments to view homes fitting the bill. Our traditional agents also explain the ups and downs of various homes and neighbourhoods to help you choose your ideal home by explaining the merits and demerits of different options.
- Negotiate the offer. Our buyer’s agents will advise you on a fair price to offer and present it to the seller’s agent. We will negotiate the asking price and write up the contracts on your behalf. Our agent’s experience in negotiating real estate transaction deals can save you money and help you avoid drawbacks like a “renovator” that is more trouble than its value.
- Help overcome impediments. Suppose the building inspector’s assessment or report brings new issues to light. In that case, our buyer’s agent can professionally advise you on how to go about the transaction and act as a buffer between you and the selling agent or seller. Our buyer’s agents compile competitive offers, provide oversight during inspections, handle complex negotiations, and address issues to make sure you are protected. Negotiations can become very tricky. Thus, it is extremely advisable to hire our experienced experts to keep calm and provide productive solutions.
How to Find a buyer’s agent?
Are you looking forward to a purchasing a home? It is advisable to work with a buyer’s agent, given their expertise as a buyer. A good buyer’s agent can help ease your way to homeownership, while a bad one can cause a bumpy ride. However, you may wonder how to find a buyer’s agent who is ideal for you. As mentioned before, some buyer’s agents work exclusively with buyers while others do not. So, how can you simplify your search? Well, the trick is interviewing a handful of buyer’s agents and asking them a few questions, including the following:
·What areas do you specialise in? Real estate necessitates local expertise. Thus, you should find an agent who is extremely familiar with your areas of interest.
·What is your schedule and availability? If your dream house pops up or you encounter last-minute hitches, you will want an agent who is readily available to act when they need to.
Do you have any reviews? It’s a good idea to do your due diligence and read some online reviews before meeting or engaging an agent.
Ask as many questions about their knowledge and experience as you can
Contact the Property Baron as the Leading Buyers Agency Today!
While describing your ideal home to the buyer’s agents you are speaking with, pay attention to how well they seem to comprehend your needs and preferences. The right agent for you will be someone who gets you as well as they do in the business. You can contact The Property Baron Buyers Agency via our online form or call us directly on 0431 114 854 and receive experienced guidance. The real estate transaction process is quite complex, and you will benefit from the expertise of our real estate professionals to make it easier and worthwhile. So, contact us today before embarking on the home-buying process and let us help you save time, money and enjoy the house hunting process!