All you need to know about a Buyers' Agent

If you are looking to purchase any type of property or asset, you might want to considered engaging a Buyers’ Agent – a representative to look after your interests above all else. In most cases the cost of using a Buyers’ Agent is more than offset by the financial advantages gained through the negotiation process.

Your Buyers Agent will provide you with all of the information on a property, or asset, and then negotiate direct with the vendor or the vendors agent (if a property or asset is listed with another agent or broker) to get you the best possible deal.

Would it surprise you to learn that in the United States over 65% of all salespersons income is derived from acting as a Buyers Agent. Would it also surprise you to know that Buyer Agency has existed in the USA, Canada. Australia and the UK for many years. Did you know that when American singer, Shania Twain and her former husband purchased 25,000 hectares in Otago for some $21 million dollars it was handled by a Buyers Agent.

From 2008 the New Zealand REAA Act specifically includes Buyer Agents as a practice in New Zealand.

Buyers Agents are different from Vendors Agents in the following ways:

  • They are engaged and paid by the Buyer, not the Vendor
  • They cannot act as a Buyers Agent for properties where they are a Listing Agent

Buyers Agents offer a range of services such as:

  • Sourcing properties, or assets for a Buyer, on the basis of criteria set out by the Buyer.
  • Undertaking appropriate inspection and checking of properties, such as obtaining LIM or related information for the buyer.
  • Negotiating with the Vendor (or the Vendors Agent) on behalf of the Buyer.
  • A Buyers Agent has access to every property listed for sale irrespective of which company has the listing authority (excepting his own) but at all times acts solely on behalf of the Buyer.

Personal individualised attention dedicated to getting you the property, or asset, of your choice at the lowest possible price with the best terms and conditions, with competitive commission rates which in many cases can be saved, or reduced, by the Buyers Agent negotiating a lower price for your purchase.