In the realm of real estate, the roles of real estate agents and buyers agents can often be
misconstrued. While both operate within the industry, they both serve distinct purposes. Let's delve into the disparities between them.
Real Estate Agents:
Real estate agents represent property sellers “vendors” and are tasked with a range of responsibilities:
Marketing properties for sale, employing different strategies depending on the properties being sold, i.e, housing estates, strata properties and of corse private properties
Real estate agents employ various services like property styling, professional photography, and advertising to assist the selling stratgie.
Conducting property inspections and negotiating with potential buyers to secure favourable terms. Providing sellers with a comprehensive market appraisal based on sales in local areas.
Real Estate Agents work diligently to achieve the best possible price and conditions for their clients.
Earning a commission based on a certain percentage of the final sale price of the property.
Why hire a real estate agent?
Real estate agents excel in managing all facets of the selling process, from devising effective marketing campaigns to guiding sellers through negotiations. Their expertise ensures optimal outcomes for property owners.
Buyers Agents:
On the flip side, buyers agents or buyers advocates work entirely for the purchaser and have no financial interests with the selling agent:
Identifying suitable properties that align with the buyer's preferences, whether they're listed publicly or available off-market.
Conducting thorough property inspections and skilfully negotiating to secure the most favorable purchase terms.
Assessing the market value of properties to ensure buyers make informed decisions.
Coordinating essential tasks from the brief to the final purchase, the buyers agent handles the tile process.
Collaborating with conveyancers, mortgage brokers, and financial planners to streamline the purchasing journey.
Buyers agents usually earn a percentage of the purchase price of the property.
Why engage a buyers agent?
Buyers agents excel in expediting the property search process and securing properties at optimal prices. Their market insights and industry connections empower buyers to make confident and informed decisions.
Collaboration Between Real Estate Agents and Buyers Agents:
Despite their differing roles, real estate agents and buyers agents often collaborate:
Real estate agents see buyers agents as valuable sources of qualified buyers, facilitating smoother sales transactions.
Buyers agents leverage real estate agents' networks to gain access to off-market properties, providing clients with exclusive opportunities.
In essence, while real estate agents focus on selling properties, buyers agents specialize in purchasing them. Together, they form an integral part of the real estate ecosystem, each playing a crucial role in facilitating successful transactions and fulfilling the needs of their clients.
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