A buyer’s agent is a real estate agent who represents only the buyer of property in a Real Estate transaction. This type of agent agrees to exclusively represent the best interest of the buyer under a formal contract. Why is this important?

WHAT DOES THIS ALL MEAN??

Entering into a buyer’s agency contract is very important. Why? Because the seller has hired the listing agent to get him the very highest price for his property in the least amount of time. The listing agent cannot get the seller the highest price and work for you to get the lowest price. However, if you have a buyer’s agent, you can be sure that they will do all they can to get you the best price possible.

When you first meet with your agent, expect your agent to ask you the question: Do you have a real estate agent that you are working with?

If the answer is yes, the agent should ask if you have signed a buyer’s agency contract. Remember, maybe you have worked with another agent, but if you have not signed any contract with them., you can choose to work with the agent of your choice.  If you have signed a buyer’s agency contract with another agent, another agent cannot represent you. When signing a buyer’s agency contract, it will have a time line in the contract as to how long you want to be represented. If you find the agent that you feel comfortable with, you should allow plenty of time to work with the agent.

When you are choosing an agent to represent you, ask yourself some questions:   Do you feel comfortable and compatible? Will the agent have your best interest in mind?  Remember, you may be working with this agent for a long time, and you will be putting your trust in the Real Estate agent to find you the right home at the right price. You will be forming a close relationship with the agent and most likely become lasting friends.  

What does a buyer’s agent actually do for you? 

• Search for properties: Your agent is a one stop shop for you and can send you every listing in the MLS that meets your criteria. (No need to be calling agent after agent.)  She will give you any information on any listing you will find on the internet.
• Research a listing and give you pertinent information on the history of the property.  Let you know if the seller is motivated to sell. (If they have that information.)
• Assist you with the ins and outs of the negotiation process including the preparation of all necessary forms when making an offer and/or counteroffer.
• Find a way to help buyers attain their dream home and meet their financial constraints.
• Educate buyers on the market conditions in their area.
• Provide inspection information and follow up for any inspections deemed necessary. Counsel buyers on how to handle repairs.
• Be present at the closing and assist the buyer.

Buying a home is one of the most important investments that you will probably make in your lifetime. Think of it this way. You seek professional counseling whether it be your health, financial, etc. Wouldn’t you seek a licensed professional Realtor when you are making one of the biggest decisions of your life. A professional Realtor will be there for you, before and after the transaction.  

Remember, buyer’s agents are not the gatekeepers for all your real estate needs. This is the role of a buyer’s agent and presenting that property information to home buyers will always remain an integral part of an agent’s job. Every real  estate agent wants the best for their client.  If done properly, the client will benefit. 

THOUGHT FOR THE DAY: You grow up the day your have your first laugh — at yourself.