If you’ve been following my posts on any platform lately, you would’ve seen me posting incessantly about finally being a licensed real estate agent. But from a career standpoint, what does that really mean? This is the first in a new blog series where I'll explain the general duties you can expect to benefit from when working with a real estate agent.
As a buyer:
Contrary to what some may believe, real estate agents don’t personally set the prices for the listings that they may advertise and unless otherwise stated, we don’t own them. While we can make recommendations or advise sellers of current market trends to follow when determining their asking prices, it’s ultimately the seller’s decision on what amount they choose to ask for or accept after negotiations. So what do we really do?
Entering the real estate market for the first time is scary-- working with a real estate agent can make it less so. Buying a property is much more layered than most would realize until they dive into it; there’s major legal work, major work to secure financing and major negotiations that all come together to lead to the closure of a sale. While an agent won’t be doing the legal or financial work themselves, we can give sound advice and recommendations to lead you in the right direction and make the whole process less overwhelming. We act as middlemen between buyers and sellers to ensure that both parties’ rights and interests are protected when coming to a mutually agreeable deal.
Which brings me to my next point: buyer representation. When I tell people I’m an agent, often the first question is “what are your listings?”; I’ve gathered that people believe that agents are restricted to only help clients with their own listings. That’s incorrect. An agent can represent you as the buyer for any property that’s listed on the open market. Listing agents represent the sellers and their interests while buyers’ agents represent the buyer’s interests. Think about it: while a buyer will naturally want to secure a property for as little as possible, the seller will want to get the highest profit possible out of the sale.
You’ll want someone on your side with market knowledge to advise whether or not you’re getting a good deal, as well as someone with the bargaining power to ensure that you end up with the best deal. We can assist buyers from the initial stage of finding a property, to viewing it, to making an offer and starting the paperwork straight up to the final conveyance of the property. The best part? Since the seller would pay the agents' commission in a sale, buyers generally don't have to pay their agents themselves.
Being a recent young first time property buyer myself, I have a specific passion for helping those new to the industry feel comfortable enough to go through with their first purchase. Get in touch with me at help@1oakbahamas.com now to get the ball rolling on achieving your current real estate aspirations.
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