Buyers Agents

Buyer's Agent

by Alex Wares

Buying a property abroad can seem a daunting prospect for many reasons, none least of which are the language barrier and the difficulty in understanding different laws and different legal documentation. Overseas buyers have been buying properties in Andalucia and along the Costa del Sol for decades. The majority will have not experienced any significant problems, however it important to have reliable advice to help with decisions to avoid unexpected costs at the different stages of the purchase process.

Whilst it is possible to find a property being directly by the seller either from a friend's recommendation, or by calling the phone number on a 'Se Vende' (for sale) sign or from a website the are many advantages in having a professional agent undertake the negotiation for you.

There are several types of estate agent with similar names, so it is important for buyers to understand the differences. A listing agent is an agent who has signed a contract with a seller. A buyer's agent is the agent who has signed a contract with the buyer. All the agents with properties in the window on the high street are listing agents. However, if an estate agent does not have a property listed that matches a buyer's requirements, they will contact a partner listing agent to satisfy those requirements. Following a viewing, if the property is subsequently sold, the two agents will split the sales commission. In this scenario involving two sales agents, for convenience, one will be known as the listing agent and the other as the buyer's agent. This is a misnomer. This page is dedicated to information about the buyer's agent — the agent who has signed a contract with the buyer. The buyer's agents are also known as Property Finders, but in the specific use of the expression rather than the generic sense.

Historically and especially in rural areas a property service was provided by a 'corredor' who took commissions form both parties.

These days Buyers Agents can help find you a property based on your specification, carry out the negotiations, assist you through the buying procedure and help with after sales services.  In order to retain complete independence, their commission must come directly from the buying client and not from any third parties. Typically their experience, local contacts and negotiating ability will more than repay their fees.

Buyers agents always recommend a property survey by a qualified professional