In the last decade, real estate industry has evolved in many ways. With the huge roar of internet and mobile devices now buyers have access to property information at their fingertips, skipping the dependency of a real estate agent. Incidents have been seen where real estate professionals have left searching for property in order to make themselves more efficient with their time. Some agents assume that since the majority of consumers search for homes online, it has somehow become the consumer’s responsibility rather than their agent. So that begs the question, are buyer’s agents still necessary? In short, yes and here’s why.
Home buyers shall not always rely on partial or outdated information that many sources online provide. Still more importantly, a good buyer’s agent will still carry many tasks for the buyer’s interest – these tasks sometime reach out of the property search function. Here are some essential tasks that should be kept in mind by the buyer’s agent.
Be an adviser and advocate during the whole buying process, take time to explore the needs of the buyer. Educate buyers on current market conditions and trends; Find a way for buyers to attain as many of their needs as possible when dealing with the realities of the marketplace and/or specific financial constraints. Research homes after understanding client’s needs by proper cross referencing and suiting their needs. Help buyers achieve their lifestyle needs with a different set of features than originally anticipated. Be present at closing to ensure that all the buyer’s interests are protected and he has your confidence with the deal.
If agent’s job is done properly, everyone benefits; if ignored or executed inadequately, everyone suffers.
For more information on the global property market, head to MIPIM March 11-14, 2014 in Cannes. Contact EAS for the best in meeting space, special events, hotels, rental apartments, luxury accommodation, marketing and event management. For further information, click here.