The Duties Of A Buyers Agent Explained
The purchaser will be represented by a buyers agent and they must also comply with the Rules of Conduct
. A copy of the Rules of Conduct can be located at the NSW Office of Fair Trading website. Study the rules and know that they are acting professionally on your behalf.Your property conveyancer can advise you if in doubt about the conduct of a buyers agent. Never under estimate the importance of independent real estate advice from them.
With buyers flooding back to the real estate market you should not wait or you will miss out on that property that will begin your property portfolio. Your circumstances may not let you do all the legwork, that is whey they will be perfect to employ. Dont delay we can refer you to an agent who acts for the buyer which we know will be perfect for you.
Two types of services they will offer are:
They will negotiate the price if you have already found the property you want. and are not skilled in negotiation.
Secondly and most importantly, they will find the property that suites you best. When briefing your agent remember to include the following:
Your budget and what you can spend to purchase a property
The suburb where the property is to be located or if you dont have a particular suburb then the vicinity in which you want the property to be located
How many bedrooms, bathrooms etc you require in the property
Property can be listed openly on the market or by way of a silent listing - they of course should have access to all these properties. Silently listed properties may be the one that creates your wealthy property portfolio. Without your agent having access to these silent listings you could be missing out.
Information about the property including price, land size, how long the property has been for sale is what your buyers agent will uncover for you. If the property fits your brief then ththey can even inspect the property on your behalf if you dont have the time.
The property has been located and they will begin the negotiations with the vendors real estate agent. Your buyers agent and the vendor have agreed on a sale price and now the conveyancing process will begin.
Dont ever underestimate the conveyancing process as it is the most important requirement of your purchase of a new property. This process includes your property conveyancer providing professional legal advice about the contract, discussions with your mortgage broker about your finance, exchanging and settling the contract.
Expats returning to Australia who have not already arrived, use buyers agents months before the due date of return to Australian. With the internet now the buyers agent can inspect the property and then provide you with a video inspection of the property.
Remember, a buyers agent is there to act for you and once given the brief of what type of property you are after then will research, locate and even negotiate price of your behalf. They can be your best friend if you use their services correctly.
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