Buying a house can be an exciting time for any individual, and there is a lot of preparation that goes into the process. Whether the buyers are shopping for houses or going for a mortgage, they should be prepared to deal with any kind of complications that may arise in the process. This is where the role of buyer’s agents comes in.
WHAT ARE BUYER’S AGENTS AND HOW ARE THEY DIFFERENT FROM SELLER’S AGENTS?
A real estate agent can simplify the process of home purchase and help you navigate through any problems that may arise. However, a buyer needs to distinguish between two types of real estate agents: the buyer’s agent and the seller’s agent. A seller’s agent or a listing agent represents the seller and is responsible for making sure that the best interests of the seller are being protected. The buyer’s agent, on the other hand, is one who represents the home buyer.
In a real estate transaction, the buyer’s agent is under a legal obligation to protect the interests of the purchases. Both agents serve different functions, depending on the side they represent in a home sale. Multiply Property Group has a professional team of buyer’s advocate Perth, who work to ensure that the purchaser is getting the best deal possible.
FUNCTIONS OF A BUYER’S AGENT
- Searching for listings to match the buyer’s needs: It is the responsibility of the buyer’s agent to inquire about the client’s needs and preferences to determine their ideal house. This information is then used for searching for appropriate properties, as new listings enter the market.
- Scheduling showings: After the buyer has chosen a few listings, it is the responsibility of the agent to coordinate with the sellers of the home or the listing agent and schedule a showing. The agents also inform the buyers about any open houses that match their preferences.
- Answering queries and asking questions from the sellers: The buyer’s agent usually accompanies the purchaser on all showings to answer any of the queries. They also use their expertise to provide the buyer with their opinion about the property. In addition to this, the agent also asks questions from the seller or the listing agent to get more insight into the property’s condition, seller’s circumstance, taxes, and on other relevant issues.
- Pricing consultation: Another important function performed by the buyer is that of determining the right offering price for the property. The buyer’s agent usually asks the listing agent about any disclosures on the property which can affect the house’s pricing and desirability. Thereafter, a comparative market analysis of similar properties is done to determine the right offering price for the house.
- Price negotiation: It is the responsibility of the buyer’s agent to negotiate both the price and terms. Besides this, the agent informs the buyer about any counteroffer that is made by the seller and advises them whether it should be accepted or amended.
- Recommending other real estate professionals: The buyer’s agent usually guides the purchaser through the closing. In addition, the agent also refers other real estate professionals to the buyer to protect the interest of the buyers and expedite the closing process. These real estate professionals can consist of inspectors, real estate attorneys, and others.
Property Buyers Agent in Perth provided by the Multiply Property Group can guide any prospective property buyer through the entire process of finding and purchasing a house. These experienced professionals will not only source great property deals for the buyer but will also customize their strategies to meet the buyer’s needs and secure them the best deal possible.