Everything You Need To Know When It Comes To A Buyer’s Agent
One common thought that people have towards A Buyer’s Agent is the fact that their service is expensive. Yet, that seems to not be the case at all. Honestly speaking, hiring the service of Buyer’s Agents will give you the chance of saving yourself from stress and frustration, while helping you save your time and money as well, no matter what your budget is. Most of the time, Buyer’s Agents will save your the fee and a whole lot more. In several countries around the world, more than fifty percent of their population are using Buyer’s Agents to assist and guide them in the purchasing process. The best thing about choosing professional and licensed Buyer’s Agents lie on the fact that they are less likely to take your precious time, less stressful and the saving you will make on your next property could run from tens to hundreds of thousands of dollars.
If there is one main difference between Buyer’s Agents and conventional selling agents, that would be the entity they are representing or serving. The Buyer’s Agent works exclusively for the buyers while the selling agent works exclusively for the vendor. You may not know about it but there is a law that mandates all real estate agents to avoid acting for and accepting commissions from the buyer and the seller at the same time, in the same transaction. It has been said that a good Buyer’s Agent is independent, therefore, he does not possess any financial ties to certain properties or even to other developers and real estate agents. What the buyers do is that they will pay the Buyer’s Agent with their agreed payment at the same time property exchange process is over. Since the law prevents Buyer’s Agents to collect commissions or kickbacks from vendors or even their real estate agents, they will not have any of it.
There are two levels of service that Buyer’s Agents offer and these are as follow:
The first level is what we call as Full search service and in this service, Buyer’s Agents are tasked to search and shortlist properties that meet the criteria of their clients and then, they evaluate the property and negotiates the recommended property for purchase. The other level of service that Buyer’s Agent provide is the Auction or Negotiation bidding online service and in this service, the client will actively search the marketplace and they will engage the Buyer’s Agent to negotiate a bid at auction or a private treaty.
One noteworthy thing about Buyer’s Agent is that they can give their clients an upper hand in terms of their understanding regarding the essence of not being involved emotionally with the negotiation or auction process, the auction process and also, the bidding tactics. If you are an investor, surely you do know about how the fee of a Buyer’s Agent is deductible.