Whether a buyer uses an agent or not, the seller still pays the commission. The only person that wins when buyers are not represented isthe listing agent.
Most buyer agents will have their clients sign an agency agreement, an Exclusive Buyer Agency Agreement. It outlines their services, how they are compensated, and how the two parties will work together.
To ensure you’re working with an agent who specializes in representing buyers, seek out an Accredited Buyer Representative (ABR).
Remember, you wouldn’t hire your spouse’s attorney to represent you in your divorce. The same goes for real estate. Why use the seller’s agent to negotiate your best interest? There is an inherent conflict of interest.
Thehome buying processis stressful enough without worrying about who you can and cannot trust. Your buyer’s agent is your trusted advocate.
Buyer Agents and the Agreements
According to most buyer agency agreements, the buyer’s agent must do these things:
Protect their client’s financial information
Negotiate the best possible price for the buyer
Must disclose to the buyer if they are working with another buyer interested in the same property
Show all properties the buyer is interested in that fits their criteria and budget
Connect you with the service providers—inspectors, lenders, home warranty companies—to best suit your needs
The buyer also has some responsibilities to their buyer’s agent:
Buyers must work with their buyers agent exclusively
Buyers should never give personal information to any other agent
Buyers should not call other agents to see properties, even if they think they are saving their agent some time and effort
Buyers should clearly define their must haves and deal breakers to help their agent streamline the showing process
Home buyers are at a premium in today’s housing market. Buyers should interview agents just as seller’s interview listing agents.
Make sure the buyer’s agent you select is familiar the type of property you want to purchase, thearea you want to purchase inand the particulars of your situation. An agent is only as effective as the information they are given. Clients relocating from one city to another require a different set of skills from a client moving within the same area, for example.
Blog submitted by: Tina Young (Investor, Realtor) of The Real Estate MarketPlace – Servicing the Greater Fort Hood area which includes: Killeen, Harker Heights, Temple, Belton, Copperas Cove and Nolanville. Feel free to call Tina at (254) 338-0545 if you have any questions regarding Central Texas Real Estate.
For Real Estate Listings in Central Texas visit my website at: www.Tina.killeenlistings.com or if you’re on the go text 'Tina' to 254-227-5799
Author:Tina Young Phone: 254-338-0545 Dated: February 15th 2016 Views: 424 About Tina: ...
My last post covered the benefits of hiring a realtor. By now, yo
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