Buying a New PropertyBuying a New Property

About Me

Buying a New Property

Hi, there! My name is Nigel and this is my real estate blog. I recently purchased a new home in Melbourne, Australia. My wife and I had been saving up for a deposit for the past 4 years. It was hard work getting all the money together so we wanted to invest it wisely. I searched around and found a great real estate agent who was able to help us to find the perfect property. We then pull in an offer and negotiated a great price. I decided to start this blog to offer advice to others who are in the process of buying a home.



Latest Posts

How to Handle the Paperwork When Renting Your Home out to Roommates
27 June 2017

People come in a variety of different shapes and s

Real Estate Agents: To what Extend Should they be Involved in their Client's Transactions
16 May 2017

Real estate agents play a crucial role in facilita

What you need to know about an owners' corporation
15 May 2017

If you own a property affected by an owners' corpo

Why You Should Avoid Any Unnecessary Risks When It Comes to Conveyancing and Your New Home
9 May 2017

There is plenty to get excited about when it comes

Important Questions to Ask When Buying Real Estate
1 May 2017

When you're ready to buy any type of real estate,

Real Estate Agents: To what Extend Should they be Involved in their Client's Transactions

Real estate agents play a crucial role in facilitating the buying and selling process of home properties in the real estate business. It would be so challenging as green as you are if you attempted to do everything as a know it all. You will have to find buyers or sellers, negotiate prices, sign agreements and contracts. This entire headache could go away with having a reliable settlement agent to handle all the stuff. With experience and knowledge of all the requirements, the process is even much faster compared to doing it on your own. Let's determine how much real estate agents should be involved when selling or buying a property.

Buyers to be Shown Only What they Need

Even though a good and reputable agent has knowledge on where hot properties are, the buyer should be in total control of the whole selection process. A buyer might be resentful of their agent if they were shown a house that is outside their desired neighbourhood or price range. Some home buyers may even decide to change agents if such a situation happens. For that reason, it is good to respect boundaries for the future of the business.

Buyers to Decide what they Intend to Offer

Most home buyers are not aware of the does and don'ts when closing a real estate transaction. Real estate agents and lawyers come handy at this point of time. One critical thing that must be left for the buyer is the price offer for the property. The buyer should not be forced or subjected by the real estate agent to an asking price demanded by the seller if they are not comfortable with it. The buyer should be left to make a suitable offer for the house or find another that they can afford.

Limits of the Seller's Agent

The agent representing the needs of the seller should offer their input without crossing specific boundaries. Just like the buyer should not be compelled to take an offer they are not willing, the seller should not be forced by their agent to take an offer they are not cool with. There is no point of closing the sale if the seller is not comfortable unless the property is going through a short sale.

Agents should actively involve in marketing, staging, and selling the reasons why the buyers should purchase the property. Going past these actions means violating the terms of engagement of the buyer and seller.