Buying property? Then this blog is for you!!

This blog helps the property buying community to more easily share strategies, stories and helpful tips. It is an open blog. Anyone can join, contribute and invite others to join.

If you would like to talk property, please contact us:
Office: 1300 911 576
Martyn Fleming: 0400 000 822
Guy Clarke: 0409 055 128

13 June 2010

What is a Buyer's Agent??

Buying property can be a rewarding experience and many everyday people have generated substantial wealth through property. However, you may have noticed that some do better than others. You might ask yourself why this is the case.

As with most disciplines, a healthy combination of skills, knowledge and experience are the key ingredients to success.
The difficulty is that most people only buy property once every 5 - 7 years. The average buyer cannot compete against seasoned sales agents and the strategies they use to push up prices.

Historically, people buying in
Australia have either had to fend for themselves or ask for help from a friend or family member. Some would ask for help from their accountant, solicitor or related profession. Recent changes to legislation only enable people with a real estate licence to represent a buyer in a property transaction. The old way of buying real estate included a buyer, sales agent and a seller.

The best model of buying property now includes a buyer’s agent, which moves the burden of searching, analysing and negotiating property from the buyer to an expert in that field.

Today, buyer’s agents have a proven presence in the real estate market and are helping to even up the odds.

There are three types of buyer’s agents:

1. Exclusive Buyer’s Agents – Where the buyer’s agency exclusively represents buyers and do not represent people selling property. Their expertise is focused purely on buying property.

2. Non-exclusive Buyer’s Agents – Where the agency represents people buying and selling property. Their time and attention is split between buying and selling property.

3. Pseudo Buyer’s Agents – sales agents who use a veil of deception to make buyers believe they are being represented. In reality, these are agents who have a legislative obligation to the seller and use deceptive tactics to weaken the buyer's position. Also known as “Buyer’s Representative”.

Morpheus Property are exclusive buyer’s agents and have a team of highly trained professionals with the skills and experience to represent you exclusively. Our legislative obligation is to the buyers to ensure we get you the right property at the right price.

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