Property Practitioners and in-house Real Estate Corporate Counsel

BUYERS GUIDE FORM

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Buyers Guide

What is a buyer agent?

Buyers’ agents are EAAB (Estate Agents Affairs Board) registered professionals that specialise in searching, evaluating and negotiating the purchase of property on behalf of the buyer. An exclusive buyers’ agent solely represents home buyers and property investors in purchasing residential and commercial real estate.

Why do I need a buyer agency?

  • Saving time in searching for your next home or investment property as our buyers’ agents have extensive local knowledge as well as a vast network of selling agents to provide you with properties that are a match with your requirements.
  • Area knowledge, our experts are here to help educate you on the best areas and prices.
  • Receive accurate price indications to get the true market value of the property you might have your eye on. We make sure you do not overpay for the property of interest.
  • Gain access to off-market properties, our buyers agents have the connections in finding and securing any off-market listings you might be searching for that are not on the market yet.
  • Gain access to the latest market data and predictions.
  • It is a FREE service. Our agency provides this service free of charge from search to transfer.
  • Having a professional guide throughout the entire buying process. Our agency comprises property practitioners as well as real estate attorneys backing you and tending to all your matters.

What is the difference between a buyers’ agent and a selling agent?

The key difference between a buyers’ agent and a traditional selling agent is who they represent. A buyers’ agent works exclusively for the buyer, whereas the selling agent works for the seller. A buyers’ agent is paid for their service as a percentage of the purchase price payable by either the agent holding the listing or the seller. A buyers’ agent does not sell real estate. By law an agent cannot act for (and accept a commission) from both parties in the transaction.

Be careful in dealing with a buyers’ agent (or buyers’ advocate) that is situated within a traditional sales office.

They would have an inherent conflict of interest or bias in recommending their own local stock of listings. Exclusive property buyers’ advocates will search the entire market and not have a vested interest in any specific property or selling agency.

What does a buyer agent do?

  • Strategy. First they should listen to your needs, desires, goals and wants and help you formulate a “Buyer’s Brief”. Without a clear picture of your requirements they will be searching in the dark. If you are a home buyer, the home buyers’ agent will help you identify the best suburbs that will fit your budget and lifestyle needs. Close to shops, schools and transport is always on everyone’s list. If you are an investor, the investment buyers’ agent will help formulate a property investment strategy to identify the areas/ suburbs that deliver strong capital growth and yield and also be specific about the types of properties that would suit a long term investment.
  • Research. The property buyers’ agent will help educate the buyer about the key suburbs they are targeting. They should provide suburb profiles and information about recent sales that match the requirements brief.
  • Shortlist. Next the property buyers’ agent searches for properties that meet the key criteria and summarise these into a best fit shortlist. They should have an extensive network of sales agents to contact to find suitable properties. The buyers’ advocate would then arrange a suitable time for you to inspect the properties.
  • Evaluation. Once the ideal property is found and agreed, the buyers’ agent will complete price indication of the property and  current market value. As seasoned professionals, a buyers’ agent offers valuable market insight about the true value of your potential purchase. Whether your purchase is to be the family home or an investment property, you want to make a decision based on sound market knowledge.
  • Negotiate and Secure. The last step is where property buyers’ agents really show their expertise. By negotiating well and getting the inside scoop on how the sale is progressing, a buyer agent can save you a lot of money (and prevent you making an emotional purchase). Buyers’ advocates aim to negotiate the best price and terms to secure the property. They will help coordinate the required pest and building (or strata) inspections and help facilitate the exchange of contracts.

What are the benefits of using a buyers’ agent?

1. A buyers’ agent will have your interests at heart and work for you exclusively. We will negotiate the purchase price on your behalf equipped with the correct market knowledge and aim to save you money in the process.

2. You will save time. Searching for a property is a time consuming process, but we realize some buyers in the market rather enjoy the steps of finding their dream home online. In this case it would still be in your best interest to hire HomeLegal Realty to provide you with accurate price indications and provide us with the listing details. HomeLegal will negotiate the final purchase price and ensure you do not have to pay any conveyancing fees otherwise ranging between R25 000 – R75 000 depending on the sales price. We cover this cost for you with our own in house salaried legal team providing this service. 

3. A dedicated property and legal team behind you with impeccable negotiation skills.

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