Buyer’s Agents do not sell real estate. They are licensed professionals who specialise in searching, evaluating and negotiating the purchase of a property on behalf of a buyer.
Selling agents nowadays are far more educated and sophisticated with their negotiation techniques due to ongoing sales training ensuring maximum results. Given everything has been heavily geared towards maximising profits for the vendor, buyer’s need to be calculated with every move and just as educated about property prices and sales techniques. Or they need a buyer’s agent.
A buyer’s agent will help you save money through their effective negotiation skills. They will help you save time by doing all the legwork when sourcing and evaluating a property. They will also give you a competitive edge by leveraging their network of real estate agents to provide early access to properties for sale off-market.
Buyer’s agents simply understand the process and any tricks of the trade. They bring the confidence, skills and emotional detachment to the purchasing process. In many cases, a buyer’s agent will purchase a property below what their client is willing to pay while also saving them precious time and emotional distress.
They typically offer three types of services:
1. Full Service – Search, evaluate and negotiate the right property. The buyer’s agent will present multiple options including properties available for sale off-market. They will assist with any background checks and advise on market value based on comparable sales and industry experience. They will also negotiate on your behalf to ensure you buy at the best price. They are involved every step of the way.
2. Negotiation Service – If you’ve found a property but don’t have the confidence or expertise to negotiate the lowest price, you can engage a buyer’s agent to represent you. This is one of the most popular reasons people use a buyer’s agent as they are fearful of missing out or overpaying.
3. Auction Bid Service – Bidding at auction can be intimidating, and it helps to have someone objective represent you in the heat of the moment. If you don’t understand the auction rules, will be away on the day of auction or need help with a bidding strategy, you can engage a buyer’s agent for one day only.
At Buyhub, our buyer’s agents are assigned specific geographical areas and understand the local market intimately.