Whether it be your starter to the market or forever abode, buying a house can feel intimidating. Thankfully, real estate agents can make the process less daunting. And as a buyer, you’re going to want to find a buyer’s agent who can help you obtain your perfect home, especially if that home is found abroad in Belize. But what is a buyer’s agent, and what are the benefits? Before making an investment in real estate overseas, it’s important to understand the value of who’s representing you. Particularly tailored to international investors and buyers, owner and managing director Mike Fields breaks down 10 benefits of having a buyer’s agent in San Pedro, Belize on your property pursuit.
What It Means To Have a Buyer’s Agent
Essentially, a buyer’s agent is a real estate professional who guides a buyer through the process of purchasing a home. As a representative of a purchaser in a real estate transaction, a buyer’s agent has a legal obligation to protect the interests of the buyer and work to ensure they’re getting the best deal possible. With your best interest at heart, buyers can rest assured and benefit from:
- The agent works for the buyer. The buyer’s agent works on behalf of the buyer, while the listing agent represents the interests of the seller.
- It’s free. The seller pays the commission for both the buyer’s agent and listing agent. The usual process by which real estate agents are paid is important; it means that buyers get the benefit of working with buyer’s agents for free.
- Local knowledge of the market. They’re responsible for acting as a resource for their clients by guiding them through each step. Besides knowing what’s actually happening on the market, a buyer’s agent can even find off-market listings.
- Curated choices for the buyer. At the outset of the process, the buyer’s agent will ask buyers about their needs and preferences to determine what their ideal home looks like. From there, your agent works to handpick listings best suited for you.
- Saved time. Enjoy time in Belize enjoying things you want to do. Your buyer’s agent can coordinate with the respective listing agents (or sellers if the home is for sale by owner (FSBO)) and schedule a time for the buyers to tour the property.
- More money in your pocket. Buyer’s agents work to negotiate the lowest price for a guaranteed sale. Meanwhile listing agents will work to get the highest price for a commission.
- Represent your interest, from start to closing. The buyer’s agent will guide and advise the buyers through closing. Before the closing date, they may refer other real estate professionals, such as real estate attorneys, inspectors, etc., to help expedite the closing process and ensure the buyers’ interests are protected.
- Asking and answering questions. Your buyer’s agent sees the common (avoidable) mistakes people make when buying real estate in a new country. Instead, your buyer’s agent will ask all the questions you may not know to ask and get more insight into circumstances and conditions, taxes, etc.
- Process consultation. Buyers can even benefit from the agent running a comparative market analysis to determine an appropriate offering price for the property based on similar properties that have recently sold in the area. Thereafter, the buyer’s agent will recommend that the buyers make a particular offer. This is based on the analysis and specifics of the property.
- Negotiating with listing agent or FSBO seller. After making the offer on the buyers’ behalf, the buyer’s agent will negotiate both the price and terms. The buyer’s agent will also inform clients of possible ways to make their offer more competitive, such as eliminating contingencies or adjusting the closing date.
With respect and courtesy on both sides, you and your buyer’s agent can have a successful relationship and smoothly navigate the process of buying a home in San Pedro, Belize.
Ambergris Caye has quickly become the stepping stone for retirees and emigrants in pursuit of a Caribbean retreat. Not to mention, for entrepreneurs eager for a slice of promising potential too. And in its sandy town of San Pedro, there’s proof—multi-million dollar resorts rise stories above the beach, including Marriot’s Autograph Collection Hotels’ Alaia Belize and an iteration of Jimmy Buffett’s Margaritaville chain, both of which James Group | Century 21 Btal represents.
The James Group | Century 21 Btal is the premier real estate buyer’s agency on the island; specializing in new construction condo and resort properties on Ambergris Caye and beyond. The James Group | Century 21 Btal is located inside the business suite of Sunbreeze Hotel at #7 Coconut Drive in San Pedro Town, Ambergris Caye. Get in touch with them here (1.408.649.0384). Each Century 21 office is independently owned and operated.