property transaction fees

Property finders (or property search agents) are companies and individuals representing a buyer in a property transaction. The term is more common in the United Kingdom, but in the United States the situation is referred to as buyer brokerage, and in Australia it is known as buyer advocacy.
Property finders specialise in sourcing and negotiating the purchase of property on behalf of the buyer. A property finder will develop an understanding of the client's requirements, desires and property goals, and then attempt to find a property which matches all of these requirements.
In Britain, until the early 1990s, agents involved in a property transaction worked for the seller as estate agents. Now, property finders exist to represent the interests of the buyer or tenant. Today in the United States where fiduciary obligations exist, if the buyer is working with a broker other than the brokerage which represents the seller by "listing" the property for sale, he may choose to enter into a buyer brokerage agreement to be represented. (In some cases where dual agency is permitted by law, even the listing broker may represent the buyer). If the buyer does not enter into this agreement, he/she remains as a customer of the broker, who is then the sub-agent of seller's broker.

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