What Exactly Does a Buyer's Agent do?
In many circles, people seem unsure what a buyer's agent actually does. If we don't sell property, what do we actually do?
There are two parties to a property sale/purchase:
- The vendor (owner of the property that is being sold) - who is usually represented by a selling agent AND
- The purchaser - who is often unrepresented by an agent
Most people don't consider SELLING their home without an agent to represent them. The agent prepares the marketing campaign, confirms instructions from their vendor (client), attracts potential buyers, arranges and conducts open home inspections and private viewings, negotiates the sale price to ensure the highest possible sale price and the best possible terms for their vendor (their client), emphasises the positive attributes of the property they're selling (and perhaps downplays the negatives) and generally acts to ensure the highest possible sale price in the shortest period of time, always acting in the best interests of their vendor, who is their client.
Traditionally, buyers rely on the information that is given to them from the vendor's agent. Does this seem absurd to anyone??
In any other situation where we have an advocate acting for us - the most obvious one coming to mind is legal representation - do we EVER use the advocate for the other party? No! We don't. Why do we do this in real estate?
The argument for using an agent to SELL your home is to maximise the sale price, get the best deal etc .... it's a huge amount of money after all. Likewise, it's a huge amount of money for the purchaser too ... and they DESERVE and need their own advocate, who is on their team, helping them get the best home for the best price and with the best terms and conditions.
Buyer’s Agents are licenced real estate agents and property professionals who act solely for purchasers of property. A buyer's agent does not sell property or represent sellers in any way. A buyer's agent prepares a detailed property brief in conjunction with their client, and searches, researches, inspects, evaluates and negotiates the purchase of a property on behalf of the buyer (their client).
In a world where everything is geared towards helping the vendor achieve the best possible price and terms, many buyers are left wondering who is actually looking out for their needs. This is where a buyer's agent comes in.
At Melissa Maimann Buyer's Agent, I offer three different services:
1. Full Service – This is great for people who are purchasing a home or an investment property. The service includes taking a detailed property brief, conducting searches: online, off-market and pre-market, inspections, background research, due diligence, negotiation of the purchase, settlement, recommendations for property managers and rent appraisal (investment properties).
2. Buyer Support Service – this service is an affordable buyer's agent service that let's you lead the way, but with full access to all the advice and information you need to make an empowered property purchase decision. Suitable for home owners and investors alike. More information here.
3. Evaluate and Negotiate Service - this service is only available to home purchasers. If you’d like to source and inspect your own homes, you can identify up to six key properties and I'll inspect them, conduct background research and due diligence and negotiate the purchase for you.