In the recent past, the real estate industry has evolved tremendously in many ways. The advent of the internet and the proliferation of mobile devices took the market by storm. Nowadays, buyers have unprecedented access to real estate information without relying on realtors.
In some instances, real estate professionals have abandoned property searches in an attempt to utilize their time more efficiently. In fact, since the majority of consumers search for properties online, some buyer’s agents are worried that their work will be faced. So, it begs the question, are buyers agents really necessary?
Who is a buyers’ agent?
This is a real estate professional who is hired by the buyer to research and negotiate on behalf of the buyer. In a nutshell, a buyers’ agent represents the interest of the buyer in a real estate transaction.
Buyers’ agents play a very crucial role in a real estate transaction. Therefore, buyers should not solely depend on sometimes partial and outdated information provided on most online platforms. Most importantly, a good agent carries out many other tasks in the interest of the buyer. This is far beyond the search function on the internet.
Here is a list of some of the tasks handled by a buyers’ agent:
- Act as the adviser and advocate during the whole buying process
- Identify the buyer’s needs and motivation behind the purchase
- Keep the buyers up to date with the market conditions
- Assist in determining the best financing option
- Provide information on available purchasing incentives
- Find appropriate available properties that coincide with buyer’s needs
- Interact with other agents for properties that are not yet listed
- Help in selecting open houses that fit the buyer’s needs
- Aid in analyzing the pros and cons of each property
- Advise whether it is a buyers’ or sellers’ market
- Provide statistics on the list prices the buyers are getting
- Prepare a comparative market analysis so that the buyer can make an informed decision
- Help in creating a negotiation strategy to achieve buyer’s goals.
- Educate the buyer on the content of the sales contract
It is very difficult to navigate the Dubai property market without a buyers’ agent. So, if you are planning to buy an off plan property in Dubai, you should hire an agent from reputable Dubai real estate agencies. Here, you will find top real estate brokers in Dubai who will guide you through the buying process and suggest you top-grade properties, such as Emaar Beachfront apartments or Arabian Ranches Villas.