Often people will ask me, “so what do you for a job?”. I reply, “I’m a buyer’s agent”. The response is often a confused look, “so is that real estate?” or which agency do you work for?”. Rightly, buyer’s agency or buyer’s advocacy is still a fresh concept to the Newcastle Real Estate market. However, my role as a buyer’s agent is confused with a real estate sale office and what are called buyer agents/managers.
A buyer’s agent is a real estate agent that acts solely on behalf of buyers. They do not sell property and work independent of a real estate sales office. Their services can range from finding property for home buyers or investors then negotiating, organise due diligence and communicate with all parties along the way to simply bidding at an auction for someone not confident enough to do it themselves or not available.
A buyer manager or buyer agent is part of a team of real estate sales agents, sometimes a junior salesperson, that takes enquiries from buyers and shows buyers through properties.
A buyer’s agent will be able to show clients properties across the whole market while a buyer manager is only going to be able to discuss properties listed by their agency.
It is important for a buyer’s agent to maintain good relationships with real estate sales agents to ensure they are kept up to date with the latest properties coming to market or to give them an edge over other buyers that may be interested in the property. When I am not looking at properties online or on site, I am in regular contact with real estate sales agents to find out what could be suitable coming up for my clients. This is the advantage that buyers need to not only get the right property but to buy it at the right price.
I believe having worked on both sides of the industry, as a sales person and as a buyer’s agent gives me an advantage to be to relate to other agents and maintain cordial relationships. Negotiation skills are often what people engage a buyers agent for and having worked on both sides as well as regularly attended training seminars puts me in good stead when the time comes to don the gloves and negotiate.
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