In most property transactions, the property Seller appoints a Real Estate Agent to represent them and look after their best interests. This is done by signing a Listing Authority; essentially, they could be called a "Sellers Agent". The Buyer is then represented by their Settlement Agent once an offer has been accepted.

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Sometimes, a Real Estate Agent is contracted by a Buyer who pays for their time and expertise in finding and purchasing a property. That agent will then be solely acting for Buyer and their interests in that matter, and these agents are called a 'Buyers Agent'.

 

In short, a Buyer's Agent can be a Property Partner on the following.

 

• Introduce Buyers to expert businesses that may help, such as Accountants, Finance Brokers, Settlement Agents, Building Inspectors and more.

• Research suburbs and areas of interest.

• Find properties that meet the Buyer's criteria, including exploring 'off-market' opportunities.

• Research properties of interest to the Buyer and provide expert advice.

• Inspect short-listed properties. 

• Discover material facts.

• Provide advice about each short-listed property, including independent market appraisals.

• Prepare the Offer and Acceptance to be 'buyer friendly.'

• Negotiate on behalf of the Buyer. 

• Organise Settlement Agent, Building Inspections and Liaise with the Buyer's Financial Institution. 

• Carry out or attend with the Buyer the Final Inspection.

 

In addition to these two types of agents, there can also be a 'Conjunctional Agent', where another agent introduces a buyer but is paid by the selling agent. These agents are also considered to be acting for the Seller, as a share of the sales commission is paying them.

 

It is also important to note that any of these agents cannot act for, or be paid by, both the Seller and the Buyer in the same property transaction as it is considered a conflict of interest under the law.

 

Eaton Property has "Buyer Packages" that can range in involvement and pricing to suit individual buyer requirements. Reach out today for more information.