Many think that using Buyer Agent services are too expensive. This is not the case. A buyer's agent can save you money, time and stress, whatever your budget. In most cases, they will save money and more. In the US, more than 50% of the population use buyers agent to assist in the purchase process.
If you choose a licensed agent, professional buyers, the savings you make on your next property could run into tens or hundreds of thousands of dollars, which can be less stressful and is likely to take a bit of your precious time.
The main difference between a Buyer Agent and a traditional sales agency they represent. Agent A Buyers' works exclusively for the buyer, while the sales agent works for the vendor.
Image Source: Google
By law, the agency can not act for and receive a commission for both parties in the transaction. A good buyer's agent is independent and therefore, does not have a financial relationship with an agent, developer or a specific property. Buyers only pay them the agreed cost at the point of exchange of property. They do not receive commissions or kickbacks from sellers or their agents.
Full search service where agents shoppers find and a shortlist of properties meeting the criteria of their clients and then evaluating and negotiating the property recommended for purchase
The Negotiation or Auction bidding the only service – this is where the client is actively looking for markets and buyers agents involved to negotiate a private agreement or bid at auction.
Buyer Agent can give you the upper hand by their understanding of the process of the auction, bidding tactics and not get emotionally involved in the auction / or the negotiation process. For investors, the buyer agent fee tax. Generally, charge a buyer's agent engagement before they begin the search. Costs are either a flat fee or a percentage of the purchase price of the property.
An important question to ask is whether their Buyers Agent truly "exclusive" or "independent". If they receive a sales commission from vendors or developers so they can not be classified as "independent" because they act in the interests of the seller.
Only deal with licensed buyers agent (you can check the license through the Office of Fair Trading in each country) and one that is a recognized member of your country and the Real Estate Institute of Real Estate Buyers Agents Association of Australia.