The homebuyers’ secret weapon – Having a buyer’s agent on your side
Normally buying a home is a major experience, filled with excitement, pleasure and pride.
But in many instances and without professional guidance, stress and fear can consume much of your precious time, money and energy.
Choosing the right property for your family comes down to knowing what you need, knowing what you can afford and knowing exactly what’s available at the time you are ready to buy.
Many home purchasers feel the landscape is stacked in favor of the sellers because that’s who the agents work for, which is why more and more home buyers are turning to buyers’ agents for help.
Choosing a good buyers’ agent helps level the playing field, Uganda Real Estate
It’s a great feeling having an experienced agent on your side levelling the playing field, rather than working for the seller.
So let’s find out a bit more about this curious breed we call buyers’ agents Real Estate Agent
What is a buyers’ agent?
A buyers’ agent or buyers’ advocate is the opposite of a selling agent, because they work for and are paid by the purchaser. Real Estate Agent
They are licensed real estate agents and their job is to work for you and protect your interests.
They help you buy the right property for your needs, at the right price, on the right terms and with unbiased advice.
Why pay money for something you can do yourself?
Good question… I’ll give you 5 reasons a good buyers’ agent will help you;
- Their research saves you money– they know what’s really going on in the property market – after all they’re in it all day.
- Their skills reduce your stress. Buying a home or investment property can be about as nerve-racking as it gets. It’s emotional, exhausting and sometimes terribly discouraging. A buyers’ agent’s job is to make the process as hassle free as possible for you.
- Their experience saves you time– and this is one of your most precious assets. Using a buyers’ agent will give you back your weekends.
- Their industry knowledge levels the playing field– selling agents are not your friend, they represent their client – the seller.
- Their industry contacts widen your options– they have access to every property for sale and a good buyers’ agent even has access to silent – “off market sales” that you may never find out about.
Why doesn’t everybody use a buyers’ agent?
Actually, many people do, especially overseas.
In Kampala, Uganda the numbers are growing and we have seen estimates that up to 1 in 5 buyers now use an advocate or seek independent professional advice.
Why can’t a selling agent help me?
A selling agent must act in the best interests of their client – the seller.
They do not, and should not, work for you – the buyer.
We know some agents would like to work for both sides and have it both ways, but when you think about it, they cannot possibly do both effectively as this would create a clear conflict of interest.
What do I pay a buyers’ agent?
Generally they charge a registration fee between $1,000 and $2,000 and will then charge a success fee when they find the right property for you and successfully negotiate its purchase on your behalf.
This can be a fixed fee, but it is usually a percentage of the final property purchase price.
Their fees should cover:
- All communications and meetings with you.
- Referrals to appropriate consultants such as finance, accounting and legal professionals if necessary.
- Property searching for a suitable property including communications and meetings with agents.
- Use of all their research databases.
- Evaluating properties to ensure they suit your criteria.
- Preparation of property reports to help you evaluate the properties they recommend to you.
- Communications with your finance broker, solicitor and accountant.
- Arranging further due diligence checks – including strata, building and pest inspections as required (you will be required to pay for these separately).
- Execution of strategies to purchase the property for you at the best price and then negotiating your property purchase.
- Checking final contracts.
- Pre settlement inspections.
If you are considering buying a home in the near future, why not employ this secret weapon and get Uganda’s premier property buyers agents on your side, working for you and not the seller?
Have a chat with the team at Contacts and find out how we can help you in property purchasing process
- Their research saves you money– they know what’s really going on in the property market – after all they’re in it all day.
