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Buyer's Representation

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. This agreement should spell out the responsibilities of both parties throughout the real estate transaction.

Why Use a Buyer's Agent?

The real estate buyer agent is responsible to protect their clients' best interests.

Advantages

Using a Buyers Representative offers the consumer many benefits. Evaluate the specific needs and wants of the buyer and locate properties   that fit those specifications. Assist in viewing properties and preview the properties on behalf of the client to insure that the identified criteria are met. 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. Present the offer to the sellers agent and seller on the clients behalf. 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. Recommendations and assistance in securing appropriate financing for the selected property.   Provide a list of potential vendors e.g. movers, carpenters if these services are needed by the consumer.   Most importantly, the buyer would know that they are fully represented throughout the real estate transaction.

Q & A's

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. Remember - they work for the seller, not the buyer.

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.   Michelle & Lucy can represent the Buyer with the purchase of a new home in an existing or new subdivision. Most builders will gladly pay a real estate commission to a REALTOR who brings a buyer for one of their homes.