The manner in which real estate property is sold and bought has changed considerably over the last few years. Other than several websites providing listings of properties, buyer’s advocates have become a growing trend. Other they have been part of the profession for quite long; it is in recent times that they have become quite popular.
When you compare them to selling agents, they are still a minority in the sector, and like other things, it is taking time for legislation to match up with change. That explains why you need to do your homework before you engage anyone to purchase property on your behalf. These are some of the questions you should ask before hiring a buyer’s advocate.
Are You Licensed?
With the real estate legislation varying from one place to another, property professionals ought to hold a valid real estate license. It is advisable to check with the local real estate office to find out whether the person you are dealing with is licensed or not. A licensed buyer’s advocate works entirely for you, the buyer. That means they do not sell the property. Remember that in some areas, it is illegal to operate on both sides of transactions. On the other hand, unlicensed people are on the market and do not have qualifications but are only interested in selling inferior real estate properties to unsuspecting buyers.
How Are You Paid?
As noted above, buyer’s advocates work entirely for buyers. That means you will pay for them. Also, they are independent and are working in the best interests of the buyer. On the other hand, agents or property mentors do not have the required ethical standpoint, and since they may not be licensed, they do not worry about legal ramifications. For instance, they may charge you a commission and at the same time, charge the seller commission for finding a buyer.
What Associations Do You Belong To?
When you check the associations the person belongs to, you will understand what kind of professionalism the person brings to the table. You should note that buyer’s advocates belong to certain industry associations as they are committed to an ethical sector. You may be surprised to learn that some people do not belong to any given association as their time in the sector is short-term.
Are You a Property Investor?
Remember that buyer advocates are in the business of real estate because they understand that it is a wealth creation venture for their clients and themselves. Therefore, you should ask the buyer’s advocate whether he or she is an investor.…