Page 12 - Real estate: a guide for buyers and sellers
P. 12
Real estate: A guide for buyers and sellers
As a buyer, you will not pay an agent for Advertising
services provided in selling the property.
An estate agent must not misrepresent
Buyers may deal with several agents or the price of a property for sale or lease.
agent’s representatives, depending on The advertised price must be fair and
who is handling the sale of the property reasonable and reflect the instructions of
they are interested in. the seller and the opinion of the agent of
the property’s selling price.
You can leave details with one or more
agents indicating the type of property Any changes to the seller’s instructions
you are seeking and an approximate price or agent’s opinion during a marketing
range. The agent may contact you when campaign likely to affect the selling price
suitable properties become available. must be reflected in the advertised price.
For example, if a higher offer is made for a
As a buyer, you can expect an agent to: property and rejected, the advertised price
must be updated unless the seller changes
• take your details and provide advice their mind.
about relevant properties for sale
The agent-principal relationship
• answer your questions about listed
properties The relationship a seller has with an
agent is different to the relationship the
• arrange inspections agent has with a buyer. Agents must
• provide you with a copy of the vendor’s act responsibly and ethically when
dealing with both buyers and sellers.
statement and contract of sale when But buyers should be aware that the
available main responsibility of the agent selling
• communicate genuine offers from you the home is to the seller.
to the seller
• organise the signing of the contract
of sale.
Buyer’s advocates
A buyer’s advocate is a licensed estate
agent who, for a fee or commission, acts
for a buyer instead of a seller. They can
source properties, bid at auction and
generally represent a buyer throughout
the buying process.
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