What are Buyer’s Agents?

Blogs

March 4, 2021

Since real estate is a big investment, a lot of people are smart to consider the expert opinion of real estate professionals. In this blog, we would talk about the frequently asked questions about buyer’s agents.

What is the difference between a real estate agent and a buyer’s agent?

To simply distinguish the difference between a real estate agent and a buyer’s agent, we need to talk about the work that they do. Real estate agents work on behalf of the vendor. They have the technical know-how of selling a property. On the other hand, as the name suggests, buyer’s agents work for the buyer. They can either offer either full or partial services to help find the buyer their ideal property. They are the ones who evaluate and negotiate with the seller (or the real estate agent) and come to terms with the best possible price for the property.

How much does a buyer’s agent cost?

Just like any other real estate agent, the cost of a buyer’s agent varies according to the sub-services they are able to perform. It’s noteworthy that some buyer’s agents charge for an engagement fee before they begin with a property search. The case is different with bidding in an auction. Since less resources are used in this sub-service, a lower fee is charged to the buyer. Buyers agents charge clients via a fixed fee or a percentage basis.

Do I need a buyer’s agent?

Buyer’s agents are licensed professionals that are experts in searching, evaluating and negotiating a property on the buyer’s behalf. A buyer’s agent can help you:

Search for properties or a specific property or an entire portfolio. This would really depend on your needs.
Bid for a property. There are certain cases when a buyer already has a property in mind but do not have the technical expertise in bidding in auctions. In these cases, the help of a buyer’s agent could be sought for.

The structure of real estate sales differs from one country to another. In Australia, buyer agents are especially useful to someone with a busy schedule and would rather have an expert to negotiate on their behalf.

However if you are looking to purchase a property throughout the Inner-North, East or South-East suburbs Collings Real Estate would be happy to assist you in finding properties with absolutely no charge.