Real Estate Buying Agent
in Valencia
Navigating the market with the help of a Real Estate Buying Agent in Valencia
Good property for sale in Valencia is not an easy find. To get what you really need, you have to ask for a professional help
What Exactly Is A Real Estate Buying Agent in Valencia?
A real estate buying agent in Valencia, much like in other countries, is a professional dedicated to guiding buyers through the home-buying process. As the buyer’s representative in a real estate transaction, the agent has a legal obligation to protect the buyer’s interests and negotiate the best possible deal on their behalf.
Listing Agent Vs. Real Estate Buying Agent in Valencia
In a typical real estate transaction, two agents are involved: the buying agent and the listing agent. The buying agent advocates for the buyer, while the listing agent represents the seller’s interests.
In Valencia, a real estate buying agent helps buyers navigate the property market by finding suitable listings and representing them in negotiations. Conversely, the listing agent, or seller’s agent, is responsible for marketing a property on behalf of the seller and is committed to securing the best possible terms for the sale.
Purchasing a home directly through the listing agent can create a conflict of interest. Although commissions in Valencia are shared between the buyer and seller, the listing agent often prioritizes the seller’s needs, especially in a competitive market where listings are scarce and buyers are plentiful.
As a result, buyers may face challenges in negotiating favorable terms, requesting additional services, or obtaining comprehensive property information, ultimately limiting their ability to get the best deal.
What Services Does A Real Estate Buying Agent in Valencia Provide To His Clients?
A real estate buying agent in Valencia serves as a valuable guide throughout the entire home-buying process. Their primary goal is to represent and assist the buyer in every step, offering the following services:
Initial Consultation – The buying agent provides an overview of the Valencia market, outlining different neighborhoods, price trends, and potential challenges in the buying process. This crucial step saves clients both time and money by setting clear expectations from the start.
Finding Listings – Based on the buyer’s preferences and requirements, the agent identifies properties that match their criteria. As new listings emerge, the agent promptly updates the buyer, ensuring they are aware of all relevant opportunities.
Scheduling Viewings – After reviewing the listings, buyers select the properties they wish to visit. The agent coordinates with listing agents (or directly with sellers, in the case of For Sale By Owner properties) to arrange viewings, making the process seamless for the buyer.
Inquiries and Insights – The buying agent accompanies the client to viewings, providing expert advice on the property. They also ask important questions to uncover details about the property’s condition or the seller’s circumstances, ensuring the buyer has complete information.
Pricing Consultation – Once the buyer identifies a property, the agent gathers information from the listing agent, including any necessary disclosures. They then conduct a comparative market analysis to recommend a fair offering price based on similar properties, ensuring the buyer makes an informed decision.
Negotiation – After submitting an offer, the buying agent negotiates on behalf of the buyer, handling price and terms with the listing agent or seller. If a counteroffer is made, the agent consults with the buyer on whether to accept or revise the offer, suggesting strategies to strengthen their position, such as adjusting contingencies or closing dates.
Recommendations for Additional Professionals – To facilitate a smooth closing process, the buying agent often connects buyers with other trusted professionals, such as real estate attorneys, architects, inspectors, and more. This ensures all aspects of the transaction are handled professionally and the buyer’s interests are fully protected.
Who Covers The Cost Of A Real Estate Buying Agent?
A real estate buying agent in Valencia is dedicated to representing the buyer’s interests and is compensated by the buyer. Finding the right property often requires in-depth research, along with extensive experience and local knowledge, which inevitably incurs costs. Typically, the contract outlines both the timeframe for the service and the associated fees.
Listing agents appreciate working with buying agents because it ensures that buyers are well-prepared, making it more likely that their property aligns with the buyer’s needs. For this reason, listing agents are often willing to share the buyer’s commission. A skilled buying agent uses this to the buyer’s advantage by negotiating a better price for the client, rather than focusing on securing a portion of the commission for themselves.
Fee Structure
The initial fee is paid before the property search starts upon the signing of the contract
The fulfilment fee is payable once the buyer has decided to purchase the property and starts the process of negotiating, and signing the offer to purchase
Consultation
This is the initial stage of the process. During this phase, a buying agent will explain to the client the purchase process, the state of the local market, different areas, pricing structures and trends, Spanish property specifics, and many other aspects required for a safe property transaction.
Search for a home
The search begins after the contract is signed and the initial consultation is held. It is done according to the buyer’s specifications, and the options are presented along with the buying agent’s comments. A couple of meetings can be held between the contracted parties before a decision is made and viewings are scheduled. The real estate buying agent in Valencia will continue search until the agreed-upon time frame expires.
Purchase of a home
Once the buyer has found their desired property, the buying agent steps in to begin negotiations. If the buyer wishes, the agent can also involve other professionals in the process. At this stage, it is highly recommended that the buyer hires an independent lawyer in Valencia, as legal representation is essential in any property transaction in Spain.
The lawyer’s fee is separate from the agent’s services and typically amounts to around 1% of the purchase price (+21% VAT). While the buyer can choose their own lawyer, it is crucial to ensure that the lawyer is completely independent of both the listing agent and the seller.
The buyer has flexibility when it comes to the agent’s services. They can choose to contract each service separately, opt only for the property search without committing to the entire buying process, or sign up for full-service representation.
What are the advantages of hiring a real estate buying agent in Valencia?
1. It’s a cost-effective service.
For serious buyers, hiring a real estate buying agent in Valencia is essentially free. The agent’s fees are often offset by the negotiated discounts, which are far greater than what you could secure on your own.
2. It saves you time.
With a local expert on your side who knows the market, prices, and neighborhoods, you save valuable time. Your agent also connects you with trusted professionals to complete or enhance the purchase process.
3. It’s hassle-free.
You avoid the frustration of navigating Valencia’s vast property market on your own. The agent handles the search, making the process smooth and stress-free.
4. It can be done remotely.
Even if you’re overseas, your agent can begin working on your behalf. By the time you arrive in Valencia, a selection of listings will be ready for you to view, saving you both time and money by shortening the duration of your visit.