The real estate buyer’s agent is the agent who represents the buyer exclusively; this gives us a clue as to their activity, commitment and who they aim all their efforts at.
Real Estate Buyer’s Agents include their code of ethics, which defines the professional who provides the service and records the rules of behaviour, ethics and activity, as an Annex in their contracts with clients.
Let’s take a look at the matters which are embedded in the Real Estate Buyer’s Agent’s code of ethics:
1. Fees are only charged to the buying client.
By signing the contract, Real Estate Buyer’s Agents position themselves unilaterally and exclusively on the side of the buying client, whose interests they protect and represent.
Honesty is one of the agent’s qualities: the professional expressly guarantees their client that they will not receive fees of any kind from the vendor or their representatives.
2. No commissions are received from the selling party
Receiving fees would go against the interests of the buying client.
Once the house-hunting contract is signed with the buying client, the agency or the Real Estate Buyer’s Agent will contact other agencies or professionals to track down the product.
Each part will position themselves in defence of the interests of their client and will negotiate the best possible agreement, making it clear that the Real Estate Buyer’s Agent works solely for the buying client and receives their fees for that service.
3. Part of the fees are paid when the service begins
The point is to ensure that upon signing the contract, both parties are committed to and implicated with the common goal of finding and buying the property; this initial payment of part of the fees serves to reinforce that commitment.
4. An exclusive house-hunting contract is signed with the buying client
Once the Real Estate Buyer’s Agent has agreed to work for their client, they begin an active search for the desired property, regardless of who owns or represents the property, whether it is advertised publicly or whether the sale must be negotiated with owners who do not wish to broadcast the fact that they are selling the property.
5. An informative technical report is provided on the chosen property
The informative technical report is a document prepared by the Real Estate Buyer’s Agent or the Technical Expert they collaborate with to describe the state of the property, noting any hidden issues, if they exist, both in the property itself and in the building it is located within.
6. The client is accompanied at all times
Patience must be a defining characteristic of a Real Estate Buyer’s Agent. Deciding to buy a property, especially if it will be the buyer’s main home, is a complicated, emotionally delicate process that takes time.
The professional stands by the buyer at all times as their goal is to make the best possible purchase, rather than to sell quickly.
7. Buyers only view properties that really meet their requirements
One of the Real Estate Buyer’s Agent’s main goals is to save their clients time. Generally, house-hunters waste the most time searching for, selecting and viewing properties.
With so many properties available, the search process can be a lengthy one; moreover, there are properties that do not appear on websites or with real estate agencies (off-market), which means that carrying out a truly comprehensive search requires more time and investigation.
8. All the necessary paperwork is dealt with
Before a sale is completed, the PropertyBuyers agent deals with all the paperwork, procedures and signatures necessary to allow the transaction to go ahead.
They make sure everything is up-to-date and in force to ensure there are no nasty surprises at the Notary.
9. After signing, they continue to offer the buyer DOCUMENTARY PROCEDURES.
After the Title Deeds are signed, the Real Estate Buyer’s Agent continues carrying out all the documentary procedures necessary to complete the purchase process and ensure everything is officially registered with the Property Registry, certifying the buying client’s ownership.
10. The Real Estate Buyer’s Agent’s goal
The goal is to protect and satisfy the client and make them happy throughout the entire purchase process, removing concerns, negotiating the best purchase price, anticipating problems, shortening times and assisting their clients.