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Buyers’ Agents vs Selling Agents - what’s the difference?

11 Nov 2015

Many people ask the difference between these two real estate agent roles. Surely it's in the best interest of the vendor of the property to have their Selling Agent looking after buyers. Unfortunately, this doesn't happen very often because the recent market has been abundant with buyers and there can only be one buyer!

Selling Agents Role

A Selling Agent's role is to secure a buyer at the best price possible for the vendor. So if there are multiple buyers wanting the property, usually the highest price wins. It can be ruthless for the buyers who miss out and they are often just cast aside and forgotten. This is not a criticism of an agent but they probably don't have another property to show the buyers so there is nothing else to discuss. The buyers have usually spent a lot of time and energy searching for a property only to miss out, often more than once. It can be soul destroying.

Buyers' Agents Role

A Buyers' Agent role is to secure a property for a buyer at the cheapest/lowest price possible for them. Quite often a Buyers' Agent will have qualified the buyer, which means had them secure finance pre-approval, discussed settlement terms and timing, given them all the advice needed to proceed with confidence. This will put the buyer in a great position to be seen as a serious contender to proceed with a property purchase. It gives the Selling Agent absolute confidence because they are dealing with a professional who understands the real estate industry.

If you are looking to purchase and you have been through any of the above scenarios, it is time to discuss engaging Wollongong Buyers Agent.