What is a buyer's agent?

Oct 10, 2022, 16:45 PM
Title : What is a buyer's agent?

A buyer's agent is a real estate agent that represents the buyer.

Their role includes:

  • Identifying the buyer’s requirements.
  • Identifying suitable properties that may or may not be currently for sale.
  • Researching previous sales price statistics for the selected properties.
  • Determining all matters relevant to possible transactions e.g. title searches, the legality of structures and the legality of the use of the property.
  • Drafting any special conditions to a proposed contract.
  • Arranging inspections.
  • Conducting negotiations for the selected property.
  • Obtaining the property at the lowest possible price.
  • Accurately defining the subject matter of the sale i.e. what is included in the sale.
  • Preparing the Offer and Acceptance and drafting any appropriate special conditions.
  • Presenting a written offer and negotiating sale price.
  • Explaining the Contract for the Sale of Land by Offer and Acceptance and the Joint Form of General Conditions for the Sale of Land.
  • Explaining the effect of any variations to the Contract that may be requested by the seller or the buyer e.g. extensions of time for finance approval or settlement.
  • Monitoring the contract from sale to settlement, especially the satisfaction of any special conditions.
  • Arranging and attending the pre-settlement inspection.
  • Liaising with the settlement agent/solicitor and other parties to facilitate settlement.
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