Saturday, 16 December 2017

What Does A Buyer's Advocate Do | How to Find Buyer's Agent

Written by Posted On Monday, 19 June 2017 03:34

What Does A Buyer's Advocate Do

You're ready to buy your first home, but you're not sure where to start. You don't want to go to a real estate agent because they're all about a commission and making a sale, but you start hearing about buyer's advocates. This article will go over what a buyer's advocate is, how they differ from real estate agents, and where to hire one.

What is a Buyer's Advocate?

To put it in simple terms, a buyer's advocate is a person who specializes in property advisory, negotiating the price and purchase, and evaluating the property for their client who's looking to buy a house. The full service means your buyer's agent searches for a property based on a list their client gave them, and once the customer agrees to buy it, the agent will negotiate the price. They can also bid on behalf of their client in an auction once the client has found a property they want. Buyer's advocates differ from real estate agents in the fact that real estate agents are trying to sell properties the real estate companies own, and a buyer's advocate an independent third party.

What Does a Buyer's Advocate Do?

A buyer's advocate gives the customer a wider range of properties to look at, including ones that may not be listed anywhere. They take a portfolio that their customer has made and search out homes that fit the criteria, and once they find a few houses that fit, they evaluate the property. If you're looking for property for your business, your agent will be able to find prospective properties that will maximize your profit and traffic through your business. The primary buyer's agent responsibilities are listed below.

  • Being an advocate for the purchaser throughout the whole home buying process

  • Provide education on the current housing market

  • Research homes in the area as well as sorting through active and unlisted homes to meet their customer's needs

  • Completing all of the paperwork for making an offer or counter offer

  • Provide follow-ups for any inspections

  • Research and inform the buyer about any repairs and how to go about fixing them

  • Protecting the client's interests at closing

Buyer's Agent vs Real Estate Agent

As it is stated above, the main difference between these agents is the buyer's agent is there to protect the customer's investments and a real estate agent is looking to sell houses to get a commission. Real estate agents simply don't have the one on one time with every client that a buyer's agent does, and can't search out everything a client wants. Buyer's agents can do this because of their whole job centers around their client's needs.

Why Hire a Buyer's Agent?

 

People hire buyer's agents to make sure they get as close to their dream home as possible without all of the hassles that come with it. Your buyer's agent takes care of the most stressful parts of finding and purchasing a home, right down to the paperwork. Anyone who is in the process of buying a home will tell you it was a very stressful and emotionally taxing time. It shouldn't be like this, and that's where your agent comes in.

How to Find a Good Buyer's Agent

You can find an excellent buyer's agent by looking online. You should look for an agent that works with local companies to ensure they know the areas you want to look at. Also, ask the agency the agent is affiliated with for reviews and recommendations. If you don't want to look online, call the realty offices in your area and ask for a buyer's agent.

Questions to Ask a Buyer's Agent

Once you located a potential buyer's agent, there are some considerations and questions you should ask them. They should be ready to provide answers freely because they want your business. A few good questions are listed below.

1. Do you require any pre-qualifications or pre-approval for looking for homes? If so, what qualifications or approval?

2. Do you have any professional references you can give me to contact?

3. How long have you been a licensed buyer's agent?

4. How many homes or businesses did you sell as a buyer's agent last year?

5. What experience do you have buying homes in my area?

6. Can you give me testimonials of past clients?

7. What are your preferred methods of communication?

8. Do you attend home inspections?

9. How do you negotiate a buyer's requests for home inspections?

10. Do you require your clients to sign a contract or agreements?

Do You Need a Buyer's Agent to Buy a House?

The short answer is no; you don't need a buyer's agent to purchase a home. However, wouldn't you rather have someone do most of the legwork for you? Or wouldn't you rather have someone else do the paperwork and negotiate everything? A buyer's agent isn't a necessary step in buying a home, but they are a good idea simply for the fact that your stress will go down when using a buyer’s agent, and they may think of things that wouldn't even cross your mind. It's never a bad idea to have a professional in your corner. They also specialize in property advisory, which will help you with decisions.

We've gone over the pros and cons of hiring a buyer's agent along with how to find one and what to do. Everything shows they're a viable option to at least look into to make sure you get the best home possible.

 

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Sarah Smith

Sarah works with many real estate business owner to upskill their current license to further their employment prospects. 

https://propertyinvestmentwise.com.au/

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