What exactly is the difference between a buyers' agent and a real estate agent? A real estate agent is a selling agent, paid by the seller and therefore is legally obliged to work in the seller's best interests, which normally means getting the highest price for the seller. Some confusion can arise because many buyers have dealt with very personable real estate agents, and find it hard to believe that they may have paid over the odds for a property. This may mean they have dealt with a very good salesperson, which of course is not in the interest of the buyer. A buyers' agent works for the buyer only, and is not a salesperson. The buyers' agent is professionally trained in real estate and helps (amongst many other things) to select the best property for a client's budget, which frequently means a large saving, as the buyers' agent has experience and resources not normally available to the public.
Are buyers' agents an American idea? Buyers' agents are frequently engaged by property buyers in the US and Europe and have been for some time. The importance of engaging a buyers' agent has been recognised to some extent in Australia in the past ten years or so.Their use is increasing in popularity now that the public are becoming knowledgeable about the importance of their home being a good investment as well as a place to live, and the realisation that buyers' agents could save them tens or even hundreds of thousands of dollars. We are all used to employing lawyers for legal issues, accountants for financial matters, so why not use a real estate professional to look after the largest purchase you are ever likely to make?
I love house hunting and going to 'open for inspections'. Why would I use a buyers' agent? You don't have to give up house hunting if it is something you enjoy. It will give you a very good feel for the type of property you would like to live in, and the sort of decor you would like in your new home. We like to accompany you if possible if you are viewing houses outside of the ones we have selected - some people suddenly decide to look beyond their initial selection criteria. If you are interested in buying a house you have found, we can use our expertise to appraise the property, provide you with a comparative market analysis to reassure you of the local property values and assist in negotiating/bidding. We are the professionals who can ultimately save you much more than the cost of using our services.
I am a first home buyer trying to save as much money as I can. Do you think it is realistic to spend money on a buyers' agent? In many ways, as a first home buyer, you need us most. For the beginner, there is a lot to learn and a lot of pitfalls for the unwary. We do this every day, know the process extremely well and have all the resources to research areas and appraraise properties. We will take care of you and your purchase every step of the way, saving you time effort and money.
