Sydney, the capital of New South Wales state of Australia, is one of the world’s top vacation destinations. The city has been a favourite stop on many itineraries.
The city is blessed with amazing landmarks, such as the Sydney Harbour Bridge, Sydney Opera House, and Taronga Zoo Sydney. It also has the finest beaches like Bondi and Manly and a fantastic outdoor experience, such as Cockatoo Island, where you can wake up to one world’s best views.
Moreover, the city offers a lot of job and business opportunities. With that being said, many people are flocking to the city, not only for vacation but to live there, too, and start a new life.
If you plan to move to the city and want to own a property, you will need the assistance of a property buyers agent in Sydney. But what is a buyer’s agent? Is it the same as the listing agent? You’ll find the answers below.
What Are Buyer’s Agents?
The buyer’s agents are real estate professionals whose job is to guide the buyers through buying a home. Their task is to protect the buyer’s interest, ensuring that they are getting the best possible deal.
How Are They Different From Listing Agents?
There are normally two real estate agents included in every real estate transaction: the buyer’s agent and the listing agent. The buyer’s agent is the representative of the buyer, and the listing agent represents the seller.
The buyer’s agent looks for listings and provides recommendations to the buyer. On the other hand, the listing agent’s task is to list a property for the seller. They make sure that the seller gets the best sales terms possible for the property.
What Can a Property Buyer’s Agent Do?
The buyer’s agents work as their client’s resource, guiding the buyer in every buying process step. With that in mind, the buyer’s agents’ tasks are:
- Finding listings that will suit the buyer’s needs and preference
- Setting showings schedules
- Asking and answering questions on behalf of the buyer
- Pricing consultation
- Negotiating
- Providing real estate professional recommendations, such as inspectors, real estate attorneys, etc.
How Do They Get Paid?
You, as the buyer, should pay your agent with either a fixed fee or commissions. After all, they are working on your behalf. However, some buyer’s agents charge a certain amount in advance as an “engagement fee”, so they can start looking for properties and compensate them for their time.
How to Choose a Good Buyer’s Agent?
It is highly advisable to work with a property buyers agent in Sydney to purchase a house. However, some agents work for both buyers and sellers, so you need to be careful in choosing the one who’s going to represent you.
There are some crucial questions that you can ask them to know if they are the best agent to represent you:
- How experienced are they regarding working in real estate?
- What hour do they normally work?
- Do they exclusively work with buyers?
- How many clients are they presently working with?
- Do they have enough knowledge in finding you a home within your preferred location and budget?
- What are the things that they can offer that other buyer’s agents can’t?
Your goal is to hire a buyer’s agent who can work within your schedule and help you find the best home within your preferred area and budget. Moreover, you have to make sure that the candidate is well experienced and working exclusively with buyers to avoid conflict of interest.