If you’re in the market to buy a home, you may have come across the term “buyer’s agent.” But what exactly does a buyer’s agent do? Let’s dive into their role and how they can assist you throughout home-buying.
A buyer’s agent is a licensed real estate professional who exclusively represents the buyer’s interests. Unlike a listing agent who represents the seller, a buyer’s agent works solely on behalf of the buyer. Their primary responsibility is to help house hunters find a home that meets their needs, preferences, and budget.
Here are some key tasks and services a buyer’s agent provides:
Property Search: A buyer’s agent helps you find suitable homes by analysing your requirements and preferences. They leverage their industry knowledge and access to listings to identify properties that align with your needs. They can flag potential listings or properties for you to explore further.
Property Showings: Once potential properties are identified, a buyer’s agent schedules showings and accompanies you to view the homes. They provide valuable insights and answer any questions you may have about the property.
Negotiation Support: When it’s time to make an offer, a buyer’s agent assists with preparing and submitting offers on your behalf. They use their negotiation skills and market knowledge to help you secure the best possible deal. A typical buyer might buy only a handful of properties in their life, a good buyer’s agent should buy a handful a week which provides a lot more depth of experience, which is required when buying something worth millions of dollars.
Paperwork and Documentation: The home-buying process involves significant paperwork. A buyer’s agent helps you navigate through the necessary documents, ensuring everything is properly prepared and submitted.
Market Research: A buyer’s agent provides pricing information and conducts market research to help you make informed decisions. They analyse comparable sales data, market trends, and other factors that may influence the value of a property.
Coordinating the purchase: As the purchasing process approaches, a buyer’s agent works closely with all parties involved, including lenders, inspectors, and lawyers, to ensure a smooth transaction. They help coordinate inspections, appraisals, and other necessary steps to finalise the purchase.
It’s important to note that a buyer’s agent owes a “fiduciary duty” to their clients. This means they have a legal obligation to act in your best interests, providing honest and ethical guidance throughout the buying process.
Contact our team today to schedule a free consultation if you are interested in working with a buyer’s agent.
