A buyer’s agent is a hired professional who works on behalf of the buyer. Their job is to help find, research and negotiate the right property.
They represent their client’s interests and, in this case, the buyer. They are very different to a real estate agent whose interests are allied with the seller.
Let’s get one thing straight.
A buyer’s agent is on the buyer’s side.
A real estate agent is on the seller’s side.
Let’s take a look at an example.
Tenille is looking at purchasing a home on the Gold Coast. Her buyer’s agent, Janine, is keeping watch of new listings and has found one perfect for her.
In this case, the buyer’s agent will negotiate on behalf of Tenille.
The property will go to auction, and the agent, Janine, will bid for her and ensure that all the correct steps are followed for her to get the best deal possible.
In other situations, buyers also hire an agent after they’ve found a home to then do the negotiating for them.
But wait…
How do you know if a buyer’s agent is reputable?
As mortgage brokers in Brisbane, we’ve seen both the good side and bad side of buyers agents. Let’s take a look at the benefits first.