What is Buyer Agency?
The internet is the best thing that has happened to the real estate business since the cell phone. It makes it possible for brokers to provide information to consumers much faster and in greater detail than ever before. However, what the internet cannot do is consult, search the whole market, evaluate and investigate, advise, negotiate, and represent you at closing. Those are fiduciary responsibilities that comprise the role of a buyer agent.
In a buyer agency relationship, you commit to working with one agent who has a fiduciary duty to represent your interests above and beyond the interests of all other parties involved in the transaction. Almost without exception the fee is paid by the seller so your out-of-cash investment is usually negligible. Your buyer agent will assist you with planning, locating and evaluating property, negotiating price and terms, financing, inspections and more. Whether you're a first time homebuyer or an old pro at real estate, you owe it to yourself to have a buyer agent to navigate the complexities of your real estate transactions.
A buyer's agent can show you any home that's listed in the Multiple Listing Service in addition to homes being sold by their owners. A buyer's agent can also introduce you to builders and assist in negotiating building contracts. To find out more about how a buyer's agent can help you find the home of your dreams, contact us today.
Benefits of Using a Buyer Agent
The chart below quickly summarizes the advantages of having a buyer's agent:
|
Description of Service or Duty |
Seller’s Agent |
Buyer’s Agent |
|
Arranges property showings |
√ |
√ |
|
Assists with financing |
√ |
√ |
|
Provides accurate information |
√ |
√ |
|
Explains forms & agreements |
√ |
√ |
|
Monitors escrow & closing |
√ |
√ |
|
Exposes buyer to the entire market (listed & unlisted properties) |
|
√ |
|
Gives advice and council |
|
√ |
|
Completes thorough analysis of a subject property before making an offer |
√ |
|
|
Negotiates the best price & advises buyer how best to structure the offer |
|
√ |
|
Points out reasons not to buy |
|
√ |
|
Negotiates on behalf of buyer to help obtain the target property. |
|
√ |
|
Promotes and protects the buyer’s best interests |
|
√ |
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