Who's Working For You?
For most of us, buying a home is the single biggest investment we are likely to make. It is a complex process filled with complex details. A Buyer's Agent will help you prepare and navigate through this process so that you will achieve the best possible outcome.
Do home buyers need the help of a Buyer Agent?
Yes! When buyers work with a real estate professional who is 100% loyal and completely committed to them, chances are that the entire home buying process will go smoothly, with more buyer satisfaction.
Exactly what is a Buyer Agent?
A Buyer Agent works solely for you and has no legal or other responsibilities to the seller. When working with a Buyer Agent, you have the advantage of personal representation, independent counseling, loyalty, confidentiality and trust. You will have the freedom to discuss the value of the property, negotiating strategies, and personal finances with your Buyer's Agent. You can also obtain the opinion and advice of the Buyer's Agent concerning the condition of the property, the structure of the offer, the seller's motivation for selling, and a variety of information which a Seller's Agent (Listing Agent) cannot provide.
On the other hand, if you choose to use the Seller's Agent to help you write and present an offer, negotiate, and close the transaction, it is important to understand that the Seller's Agent has certain fiduciary responsibilities to the seller and cannot guide you as the buyer in your evaluation or determination of offer price and terms.
Does a Buyer Agent make decisions for us?
No. As your personal ally, advocating your best interests, a Buyer Agent is obligated to provide you with maximum information about buying a home, each step of the way. That means disclosing specifics about location, property values, offering price, negotiations, counter offers, contingencies, financing, and the entire closing process. Armed with such vital and detailed information, you'll be thoroughly prepared to make decisions that are right for you and your family.
What about negotiating the details?
A Buyer Agent is fully qualified and highly skilled in the back and forth negotiations and financing queries that precede the closing of most real estate transactions. A Buyer Agent is also experienced and committed to helping protect your best interests in the purchase. In representing and supporting you, that's a powerful combination!
What do you mean by "confidentiality?"
Since a Buyer Agent is legally obligated to only you, he or she can help you maintain absolute privacy with regard to financial and personal information. That's another important benefit of working closely with a qualified Buyer Agent.
Are there any fees?
Varying arrangements can be made for Buyer Agency compensation. In many cases compensation for buyer agency representation will be paid out of the cooperating broker commission agreed to by the listing broker and the seller and specified in the listing on MLS. In these cases, the fee is paid at the closing from the seller's proceeds, so there is no out of pocket fee paid by the buyer.
Buyer Agency provides you with:
Local Market Insight: Expert product knowledge, understanding of market conditions (buyer demand, inventory levels etc).
Competitive Edge: Local agents hear about new inventory BEFORE it hits MLS. You'll get the inside scoop FAST!
Price Counseling & Negotiation Skills: Is it priced competitively, under-priced, or over-priced? You should know before you make an offer!
Referrals & Transactional Coordination: The work is not done when the offer is accepted, it has only just begun! You'll get reputable referral lists for home inspectors, lenders, attorneys, and someone to guide you through the complex process from offer, through underwriting, and to the closing table!