The Importance of Having a Buyer's Agent
When a seller lists their home through a real estate agent, they are fully represented in the real estate transaction. What about the potential buyers? It's their money, shouldn't they have representation too? That's where a buyer's agent comes in.
What is a Buyer's Agent?
A real estate buyer's agent represents the consumer who is purchasing the property in the real estate transaction. The buyer's agent works for the buyer client and has the clients best interests in mind through out the entire real estate transaction process. The real estate buyer agent is responsible to protect their clients' best interests.
What are the benefits to using a buyer's agent?
- To help evaluate the specific needs and wants of the buyer and locate properties that fit those specifications.
- To assist in viewing properties and preview the properties on behalf of the client to insure that the identified criteria are met.
- To research the selected properties to identify any problems or issues to help the consumer in making an informed decision prior to making an appropriate offer on
the property.
- To negotiate on behalf of the buyer client to help obtain the identified property. Keep in mind that the buyer agent will be doing so with their clients best interests in mind.
- To provide a list of potential vendors e.g. movers, carpenters if these services are needed by the consumer and help establish utilities.
Most importantly, the buyer would know that they are fully represented throughout the real estate transaction.
Can't I buy the house cheaper if I call the agent whose name is on the sign?
Not necessarily. The listing agent owes their loyalty to the seller and will be looking out for the seller's best interest. All they will do is write up the offer to purchase at the amount you specify. Be very careful of what you say! The listing agent, by law, must tell the seller if you indicate you are willing to pay more than what you offered for the house.
What About New Homes and New Subdivisions?
Often there is a on site salesperson at model homes or subdivisions who represents the builder. Sometimes, there might be a real estate office at the subdivision that handles a lot of the builders in that subdivision. In all of these situations a Buyer should have their own representation with an agent who is not representing the builder, subdivision, or developer.
Doesn't it make sense to have an agent represent you?
If you have any more questions, call or email me for assistance. I look forward to helping you take the next step....
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