A diverse landscape, colorful cities, stretches of picturesque beaches, and rolling green vineyards. It’s no surprise that homebuyers are drawn to Portugal. Whether for investment opportunities, a vacation, or even a permanent home in Europe: Portugal has established itself as a top destination in recent years.
From Algarve in the south to the Silver Coast in the north, the country has something to offer to every type of property hunter. While Lisbon, a city steeped in history and traditional architecture, offers a rare blend of modern city living and traditional Portugal, Porto, the second biggest city in the country, promises an authentic lifestyle accompanied by fantastic wine and delicious Portuguese cuisine.
With all these options, looking for a home in Portugal can be a unique experience, albeit a difficult and stressful one, especially if you're a foreigner and aren’t familiar with the Portuguese property scene. This is where we, the buyer’s agents, come in and promise to hold your hand throughout the process.
What Is a Buyer’s Agent?
A buyer's agent is a real estate professional who helps buyers navigate the property investment process. The duty of a buyer's agent is to safeguard the homebuyer's interests and ensure they're getting the best possible deal out of their Portugal property search.
Buyer's agents help investors navigate the housing market and help them save considerable amounts of time and money as they search for their new Portugal home.
Buyer's Agent vs. Listing Agent
A buyer's agent and a listing agent are typically the two real estate agents involved in a real estate transaction. Both are frequently referred to as realtors or real estate agents. While the listing agent works for the interests of “the seller”, the buyer's agent advocates for the buyer. We, buyer’s agents, locate listings and help the buyer navigate the Portugal real estate market. The listing agents, on the other hand, are in charge of placing a property on the market on behalf of a seller.
Why Work With a Buyer’s Agent in Portugal
Before you choose a buyer’s agent to work with, you should define your needs. When you review the duties of buyer’s agents in Portugal, you’ll find out that they typically include the following:
1. Finding Listings
At the beginning of the process, we’ll ask about your needs and preferences to determine what your ideal Portuguese home entails. Using that information, we’ll start looking for the best suitable properties. If any property listings that meet your needs hit the market, we send them to you immediately.
2. Arranging House Viewings
The buyers look through the listings that we send them and choose which ones they want to see in person. Then we contact the seller/the listing agent to set up an appointment for the buyers to tour the property.
3. Vetting Process
We accompany our buyers to the house viewings and answer any questions they may have while touring the property. We’ll also question the seller to gain more knowledge about the condition of the property.
4. Price Consultation
When the buyers find a home they’re interested in, we conduct a comparative market analysis to establish an appropriate offering price for the property. Based on the evaluation and details of the property, we advise the buyers to submit a specific offer.
After making an offer on behalf of the buyers, we, the buyer's agents, will negotiate the price and terms. We also inform our clients about the potential ways to improve the competitiveness of their offer.
6. Recommending Other Real Estate Professionals
We assist and counsel the buyers throughout the whole process until the closing. To help ensure the buyers' interests are safeguarded before the closing date, we also recommend other real estate experts in Portugal, such as tax advisors, attorneys, etc.
How To Find a Good Buyer’s Agent in Portugal
A good buyer's agent can make your Portugal property investment process much easier, whereas an unsuccessful one can make it more difficult.
Most home buyers make the mistake of hiring the first buyer's agent they speak to or blindly accepting the recommendation of a friend. However, it's in your best interest to speak with at least three agents and ask them the following questions:
- In what neighborhoods in Portugal do you specialize?
- What are your typical working hours?
- Do you primarily deal with buyers?
- How many sellers and buyers are you collaborating with at the moment?
- How many homes have you found in my desired neighborhood and price range?
- What unique qualities do you possess that other buyer’s agents miss?
You should also take into account how well the agents seem to comprehend your needs and preferences as you describe your ideal Portuguese home to them. The ideal agent for you will be someone who understands you and the industry simultaneously, and finding the right agent will ease your process of buying property in Portugal.
The Bottom Line
You can save time and money by seeking expert guidance when looking for a buyer’s agent in Portugal. At Get Properties we prioritize treating our clients with care and making sure that they invest in their dream homes in Portugal.
We have a local office in Lisbon and a team of qualified real estate advisors all over the country. Contact us to inquire about our services that will take you beyond the expected duties of buyer’s agents.
A great article that is very well written. I understand the process of buying a home in Portugal and of selecting an agent far more clearly now. Thank you Mary for your great article!
By Matt Kuffel from USA on 13 Jan 2023, 20:51