Have you heard of the term buyers agent? Well, for many, these happen to be mystical creatures that cannot be heard of. However, for the people that has undertaken real estate purchase in the near past, or is willing to do so in the near future, would have to find themselves taking the help of such people. Yes, these are also known as buyers’ advocates, or attorneys, and are professional people that are licensed in order to specialize in the searching, negotiating as well as evaluating the overall purchase of the property on behalf of the purchaser.
These people however do not have the authority to sell real estate. So, do not confuse them with the real estate agent. The primary difference between a real estate agent and a buyers agent is the fact that the real estate agent would be working on a commission basis, representing the seller of the property, whereas the buyer’s agent will look after the purchaser of the property.
Typically, there are two types of services that are provided by a Seattle buyers agent: –
- The first kind of service is the full package, whereby they try and search out properties according to the needs of the client; negotiate the total purchase of the property on behalf of the purchaser. It can be for investment or personal purposes.
- The second kind of service offered by the buyers’ agent would be to only engage in bidding for that particular real estate in an auction regarding the property that the purchaser has found by themselves.
So, by the looks of it, the job of a Seattle buyers agent is primarily to take care of the needs of a purchaser. As a purchaser, how much do you think would the cost of hiring a buyers agent be? Well, most of the agents tend to charge a fee for engagement, whereby it is to be paid initially, even before the search begins for the real estate. As for the payment of the full package, it could either be a flat fee or a certain percentage of the purchase amount of the property. If the buyer’s agent is only to be used for the auction, then it carries a lower fee, as there is a lot less time involved in the transaction.
So, why should you use a buyers agent?
Firstly, being relatively new to the Seattle real estate market, you might not have any exposure to the wide range of properties to be found in this place. A buyers agent, already engaged in the real estate market, will have wonderful connections as well as networking that can enable you to find out the perfect real estate within a short span of time.
Secondly, it ends up saving a lot of time for you, time which would otherwise be spent on some other constructive activity.
Thirdly, by engaging the Seattle buyers agent, you would get a lot of knowledge about how you can specialize in investing in real estate, particularly localized in Seattle.