An International Buyer Representative represents only the buyer of a property in a real estate transaction. This type of agent agrees to exclusively represent the best interest of the buyer, under a formal contract.
Benefits of Having a Representative
A Buyer’s Representative Will:
- Evaluate the specific needs and wants of the buyer and locate properties that fit those specifications.
- Time saving–Having a professional seek out a property that meets your needs can save you countless hours, shortlisting efforts and stress.
- Assist in viewing properties — accompany the buyer on the showings, or preview the properties on behalf of the buyer to insure that the identified specifications are met.
- Research the selected properties to identify any problems or issues to help the buyer make an informed decision prior to making an offer to purchase the property.
- Advise the buyer on structuring an appropriate offer to purchase the selected property.
- Present the offer to the seller’s agent and the seller on the buyer’s behalf.
- Negotiate on behalf of the buyer to help obtain the identified property — keeping the buyer’s best interests in mind.
- Review and explain documents to the buyer.
- Provide a list of potential qualified vendors (e.g. movers, attorneys, carpenters, etc.) if these services are needed.
- Most importantly, fully-represent the buyer throughout the real estate transaction.
There are two standard fees for these services:
1st- An upfront flat-rate Service Charge of $1000 due upon signing the Service Agreement contract, this fee covers all the services the representative will provide the buyer
2nd- Closing fee- 2% of the purchase price of the property. This fee is only due and paid after the closing and signing of a deal.