Frequently Asked Questions for Buyers agent

 Buyers Agents and Buyers Advocates are licensed and regulated real estate professionals who act on behalf of property buyers. Their purpose is to research, find and negotiate the perfect property for their client, based on the clients’ needs, goals, and budget.

The role of a Buyers Agent is to act in the best interests of the purchasing party, whereas a real estate agent has a contract with the seller and is therefore negotiating deals on behalf of the selling party.

An off-market property is a home that has not yet been advertised to the public. The sellers may have already engaged a selling agent and have a price point in mind, but may be sitting back or taking their time to prepare before taking the property public. They use this time to see if their agent can attract any interested buyers before they must advertise the property publicly, often to save costly advertising fees.

Working with a Buyers Agent can help unlock access to these off-market properties in a way that is rarely possible on your own – further increasing the likelihood that you will secure a property that is perfect for you.

The primary service that a Buyers Agent can provide is to search and gather information about properties that meet your criteria, and then negotiate the purchase of your chosen property. This could be by auction or private sale. Depending on your needs, a buyer’s agent may search for one particular property or an entire portfolio and can often negotiate a better price. This may include compiling insights via due diligence and conducting building and pest reports on your chosen property. From here, a Buyers Agent will develop a negotiation strategy, or can bid on your behalf at auction.

Many property buyer want to know what the likely fees are for a buyers agent. Buyer’s agent fees can vary considerably, as agents will work on a percentage based on your purchase, similar to a real estate agent. Typically, this is between 2% - 3.5%, with a deposit to commence work, and that balance to be paid upon unconditional approval.

Here at Genesis Buyers Agents, we can work within this structure, or provide a personal fixed fee based on your needs. If you’d like to know more about our fees, please do not hesitate to reach out to us.