Our research has led us to
some interesting facts:
When you’re buying a home, you can have a
Licensed Realtor represent you for FREE
(the seller of the home you buy pays the commission).
Knowing this, it would be
silly not to enlist the help of a professional.
Real estate agents have a legal obligation
to represent the best interest of their clients.
What does this mean to you, the buyer? The agent who listed a property and has a sign in the front yard, has
an obligation to…. that’s right, THE SELLER. If you call the listing agent,
he/she is obligated to get the most $ for their client and doesn’t get paid
unless you buy that particular home. Conversely, when you work with a buyer’s
agent, your agent gets paid whether you buy that home, or he/she helps you find
another home that better fits your wants and needs. If you’re buying, you want an agent who is
obligated to you and only you! Don’t take a chance, work with a buyer’s agent
when buying a home.
One of the best reasons to
get help from a buyer’s agent, however, is that the sellers are likely to use
their own agent -- and you want to keep the listing agent from taking over the
process. In fact, the seller’s agent may pressure you to let him or her
represent both of you, in a “dual agency” relationship that primarily benefits
the seller. (Some agents won’t make it clear that they’re working for both the
buyer and the seller -- but if only one agent is involved in your transaction,
it’s fair to assume that the agent’s loyalties are primarily with the seller.)
It’s better to have your own agent than settle for dual agency.
Buyer’s agents know the ins and outs of the
During a real
estate transaction, paperwork will be flying around like a small tornado, and it
is imperative to have someone familiar with the process dealing with it. Other
parts of the transaction will also be happening at a rapid pace -- hiring
inspectors, negotiation over price, negotiation over repairs, just naming a few-
all of which is second nature to an experienced buyer’s agent. In addition,
experienced buyer’s agents usually have contacts with good inspectors, mortgage
loan brokers, and others who can make your buying process easier.