There are a bunch of selling agents out there starting to call themselves buyers’ agents. They say that they can help buyers for free – even if the property you want to buy isn’t listed by their agency. How can they do this?
Well, for starters, these “buyers’ agents” are actually junior sales agents. Their bosses see this as an easy way for the newbies to cut their teeth. So you’ll get free advice alright, but you need to understand that it’s advice from inexperienced people.
Then there is the matter of how they get paid. They approach other sales agents and get a cut from their vendor’s commission. This is great, right, someone else is paying for the advice you are being given? Maybe… but are your best interests really front and centre of the advice they give?
You see, sales agents think differently about property to buyers’ agents. I know this from experience – I have been both (at different times of course!). Sales agents are skilled at objection handling and they truly think that all property is good, as long as the price is right. A smart buyers’ agent realises that only a very small proportion of real estate is actually any good, therefore a critical eye is essential. To be safe, consumers need to find a specialist buyers’ agent, who continually hones their skills and deepens their market knowledge.
Find out what else do you need to know about getting property advice.
Published:- 17 August, 2016
Good Deeds buyers tips are intended to be of a general nature. Please contact us for advice that is specific to your individual circumstances. You may also need to get advice from other professionals such as an accountant, mortgage broker, financial planner or solicitor.