Working With Real Estate Agents to Buy/Sell Land in Victoria

Either you will buy a piece of land or you will sell land, in either case, you will be hiring a real estate agent. Working with the buyers’ agent and working with the sellers’ agent and buying land in Victoria directly are all different. In this blog, we will take you through the differences in all three processes.   In order to buy or sell land, there is a good chance that you will be working with a real estate agent especially when it comes to searching for a land.   A good agent or a broker (the owner of a real estate brokerage) can be a great resource as they will help in locating, evacuating, and comparing the pieces of land.   Just remember that unless you are working with the buyer’s broker, the real estate agent might be working for the seller, if not you.   No matter how professional, friendly or informative the real estate agent might be. No matter how many properties and agent shows you, the agents traditionally work for the seller and have a legal fiduciary obligation to act in the best interest of the seller.  Also, when you have to get down to the financial nitty gritty of prices and offers, you must take their advice with utmost caution. In fact, most real estate agents are quite knowledgeable about houses than the vacant land, so their knowledge about the wells, septic tank system, zoning, and the rest may be limited. You will have to do your own research and make sure the land you are wanting to buy fulfills your needs.   In order to buy or even sell land, you must choose a real estate agent carefully as there is a lot of money on the table and mistakes can cost you a lot of financial security.  Hire a professional real estate agent who is knowledgeable and experienced. The one who works in coordination with you, listens to your needs and even have a good rapport in the market.    Irrespective of the agent you are working with, their first priority will always be their client. The seller’s agent will strive to sell at the profitable price while the buyer’s agent will strive to get their client a great deal. Their idea is to get the deal happen.   The real estate agents get paid the same irrespective of number of lands they show you. So, it is also to say that the professionals work in the best interest of their client and go above and beyond to get the work done successfully. If you are looking for such seasoned, driven and highly experienced real estate agents, call the team of Raine and Horne.   

Working With the Seller’s Agent  

Working With the Sellers Agent Whether you like it or not, there is by definition an adversarial relationship between buyer and vendor. So, confiding in the agent who is working for the opposition, for instance, telling the broker how high you will go in a negotiation is unwise as the agent is bound to tell this to the seller. While on the other hand, the seller’s listing agent can be an excellent source to get detailed information about property.   The agent will probably know about the property and the seller than any other real estate agent. With the increasingly strict real estate disclosure laws enacted, the sellers’ agent is unlikely to withhold information.   So, it is suggested to ask the agent as many questions you may want to ask like about the perc tests, water quality, wetlands, former uses of the land, etc. Make sure you confirm the information given to you before making a final decision or acting on it.   The listing agent always know how for long the property has been on the market place and its price history (which is also now readily available on the web). The listings agent probably has some insight into the sellers’ level of motivation too and the things they are willing to accept. Just to let you know, your agent is unlikely to advise you on how much to bid because it would be violating his legal obligation towards the seller.  

Working With a Buyer’s Agent  

Working With a Buyers Agent We have understood about the seller’s agent. Now, let us see working with a buyer’s agent.   Fortunately for buyers of land in Victoria, the real estate business is in transition and more and more agents and brokers might work with you as a buyer’s agent or as a buyer’s broker that too at no additional cost to you, as they are paid out of the sales commission. In such a case, the broker’s fiduciary obligation is to the buyer.   If you are planning to look into a lot of properties, then I would recommend working with the buyer’s broker. If a buyer’s broker is not available in your area, contact Raine and Horne. The team of professional real estate agents are here to assist you throughout the process of selling and buying land in Victoria  You will benefit from talking directly with the seller’s agent. Also, the entire search process will be simplified and you can even ask questions to the listing broker.    To avoid any sort of conflict or any complicated situation from arising, it is better to ask queries about any doubts, if you have.   

Directly Buying Land in Victoria  

Directly Buying Land in Victoria Often the land is sold directly by the owner, or often by a developer who has bought a large parcel and subdivided the land. With fewer middlemen, you can also get a better deal. However, you might have to be on your toes as you might as well be dealing with a seasoned professional estate agent who would know a lot more than you do about land and acreage. Selling or buying land in Victoria may seem an easy task but it is certainly not how it seems. There are a lot of legalities involved, monumental amount of paperwork and a lot of professional negotiation.   To be able to get a fair deal, it is suggested to employ a real estate agent who specializes in buying and selling land in Victoria. Contact Raine and Horne and let us get the work started. Drop us a line now!