Do you often get confused about different terms regarding real estate? For example, there are real estate agents, buyer’s agents, and brokers. Do you know the difference between each type of agent? If you’re looking for a property to purchase, would you know who to call?
The agent you need for your real estate transaction would depend on your objective. You can choose between a Buyer’s Agent and a Real Estate Agent to help you. Here are the differences between the two types of agents:
Real Estate Agent
A real estate agent, otherwise called the listing agent, represents the home seller. The seller pays them and they have a legal responsibility to get the maximum price possible for the seller. They do not work for the buyer. Real estate agents are in charge of putting up the property on the market, looking for buyers, and conducting open houses. They are also in charge of negotiations for the home seller, closing the deals, and beyond.
If you are a homebuyer and have already decided on buying a specific property, you can directly reach out to the real estate agent of that property. The real estate agent will then review your offer and can close the deal once you’ve agreed on everything.
Do you need a real estate agent to sell your property? It’s not required to have a real estate agent to sell your property, but it has its advantages. For one, they’ll have more connections and contacts and will be able to market your property to a wider range of audiences. You’ll have someone to guide you, the property owner, through the whole home selling process and help make it smooth and stress-free.
On the other hand, if you only have an idea of what type of property you want and what you need for your new home, it would be best to contact a Buyer’s Agent. As a real estate professional, the buyer’s agent will help you find the perfect property that will fit your needs – regardless of who is selling them. Buyer’s agents will work only for you. The selling agents do not pay them. They are engaged by you and work in your best interests at all times.
The buyer’s agent will do the leg work and research for possible properties that checks all your requirements. Based on your preferences, the buyer’s agent will provide you with recommendations for different properties.
In choosing the shortlisted properties, the buyer’s agents will base it on hard facts and market data. With this, they will also be able to help you decide on an offer that will put you at an advantage over other buyers.
Since the buyer’s agent represents the buyer, he/she should also ensure that you are not paying too much. Once you’ve chosen a property, the agent will negotiate with the seller so you can get the best deal and terms. They will also take care of all requirements and assistance that you may need in purchasing the property. This includes selection, research, negotiation, Special conditions to the contract to protect you, right through to unconditional contract.
Who should you call?
Knowing who to call for your real estate transaction, whether buying or selling, will save you from a lot of hassle. So given all the information, do you already know who to call?
If you are planning to buy a new home in Perth, feel free to reach out to the Buyer’s Agents at Buying Perth Real Estate. We’ll listen to your criteria and help you find the best option. Get a free consultation at https://buyingperthrealestate.com/buyers-agent/