In the world of asset management, there are, undoubtedly, many different professional roles. Some of these you may have already heard of. While others – especially when the job description is more obscure – you may not know much about!
One of these mysterious roles is that of the buyer’s agent. Yes, the fact that they can help people buy things is self-explanatory. But what does a buyer’s agent actually do? If you’re interested in learning more about this subject, stay with us as we explore further.
So, what is a buyer’s agent?
If you are a buyer’s agent – just like those employed at Berkshire Luxe buyer’s agents – your role will be multi-faceted. On a daily basis, you’ll be helping clients purchase and acquire assets. Most often, these assets will include the acquisition of real estate property.
As such, a buyer’s agent has a significant role to play in the real estate marketplace. That is not to say that a buyer’s agent’s role is the same as a real estate agent’s! On the contrary, a buyer’s agent’s responsibilities differ greatly from those of a real estate agent, in many ways.
For instance, a buyer’s agent will predominantly advocate for their clients when they wish to make a purchase. As a result, a buyer’s agent is also often referred to as a buyer’s advocate.
In real estate specifically, they are commonly known as property buyer’s advocates. But what exactly does a buyer’s advocate or agent do? Just keep reading to find out!
What does a buyer’s agent do?
As mentioned, the role of a buyer’s agent or advocate is multi-faceted. In the real estate industry, in particular, a property buyer’s agent will be tasked with:
Sourcing potentially suitable properties for their clients
The first step in the buying advocacy journey is for the buyer’s agent to seek out appropriate properties to present to their clients. To do this, the buyer’s agent needs to consult in depth with the client to uncover what they need from their new property.
Do they want a large family home with a swimming pool and a big backyard to keep the kids entertained outdoors? Or perhaps, they would like a more condensed, self-contained apartment complete with all of the amenities, modern fittings and appliances at hand.
Once the client’s requirements have been ascertained, the sourcing process begins. Property buyer’s agents will often pull from their existing portfolio, or even call on their professional networks to find the best possible location to present to their clients. With their client’s approval on the property, the next step in the process begins – negotiating an offer!
Negotiating property prices, bidding, and placing offers on the client’s behalf
Putting in an offer is the next step to acquiring a property. This often requires a great deal of negotiation on both the buyer’s and the seller’s behalf. As such, it pays to have a buyer’s agent doing the hard yards for you. Your buyer’s agent can negotiate with the sellers and listing agents to obtain the best possible price for the property on your behalf. Ideally, as the buyer, your buyer’s agent will have your best interests in mind.
This differs greatly from the priority of real estate agents who will do all possible to generate the most amount of money for the sellers! For this reason, if you’re a first-time house hunter in particular, the services of a buyer’s agent can be immeasurably helpful in navigating the tricky real estate marketplace.
How can a buyer’s agent help me?
Of course, you can certainly buy a house without professional assistance. However, if you are a first-time home buyer (or even if you aren’t!), this is not always the best idea.
Indeed, having a professional buyer’s agent by your side can assist greatly. Employing a buyer’s agent can save you time, reduce stress and pressure, and even, save you money in the long run!
As such, if you are looking at buying a new home, it is a fantastic idea to look into engaging the services of a buyer’s agent to help guide you through the home-buying process. With their expert knowledge and assistance, you can rest assured that you are in safe hands and that you are making the best decisions in terms of your property acquisition.
Buying a property without the guidance of a professional buyer’s agent is essentially just like flying blind! If you are a novice house hunter in particular, obtaining your first home can be an extremely overwhelming process.
Fortunately, you can reduce the stress and pressure of purchasing your new property with the help of a buyer’s agent. Importantly, a buyer’s agent can advocate, negotiate and bid on your behalf.
They can also help you to source your dream property by matching up available homes with your list of requirements. Indeed, with the assistance of a buyer’s agent, house-hunting can be a breeze!