Something is Missing for Property Buyers!
Property buyers searching for their ideal house, apartment or commercial property experience a rather curious process in which many don’t seem to realize the disadvantage they encounter!
Why curious? The buying process can be a time consuming and exhausting process – physically and emotionally. Even though the property purchase is likely to be the most significant transaction that the buyers will be involved in for quite some time, Buyers don’t have anyone looking after their interests unless they use their own agent – a Buyer’s Agent.
The Selling Process!
The Selling Agent’s job is to sell the properties on their books on behalf of their clients, the property owners. This is common sense! But what about you, the Buyer? What is it that you want?
When you describe your ideal property to Selling Agents, they will present to you their properties which most closely resemble your requirements. The Selling Agent’s job is then to use all efforts to sell one of those properties to you for the highest price possible, using their powers of persuasion.
In short, the Selling Agent’s job is to sell you a property from the limited range of properties on their books, and for the highest possible price! As a property buyer, that is far from ideal!!
Selling Process = Sellers available property at the highest price
The Buying Process!
There are many selling agents who do an outstanding job for their clients. They are professional, hard-working and know the market-place very well. If they were representing your interests, it would maximize your chances of achieving the best possible result. However, the Selling Agent does not represent the buyer’s interests – the Buyer’s Agent does.
Property buyers can engage the services of a Buyers Agent to specifically seek out a range of properties (from a wide variety of selling agents & private sellers) which best suits their needs. When you have narrowed down the available properties to a select one or two, the Buyers Agent can negotiate to buy the property for the lowest possible price.
What we are talking about here is the buying process rather than the selling process – a subtle but tremendously important distinction.
Buying Process = Buyers selected property at the lowest price
Results!
As with all aspects of the process, property buyers should exercise care when selecting a Buyers Agent, ensuring that they are a licensed real estate agent, and reviewing their agreement setting out the terms and conditions, including what fees and charges (if any) are payable.
Lawyers generally appreciate clients who have the common sense to engage an experienced real estate agent to assist them in the buying process. These clients are more likely to be satisfied with their property selection & better informed about the broader issues surrounding the transaction.
Last month, clients of this firm completed the purchase of a property utilizing the services of a Buyer’s Agent. The clients were delighted with the process and the result, securing an ideal property at a price they considered to be excellent.