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 youâre working with an agent who specializes in representing buyers, seek out an Accredited Buyer Representative (ABR).
Remember, you wouldnât hire your spouseâs attorney to represent you in your divorce. The same goes for real estate. Why use the sellerâs 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 buyerâs agent is your trusted advocate.
Buyer Agents and the Agreements
According to most buyer agency agreements, the buyerâs agent must do these things:
Protect their clientâs 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 providersâinspectors, lenders, home warranty companiesâto best suit your needs
The buyer also has some responsibilities to their buyerâs 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 todayâs housing market. Buyers should interview agents just as sellerâs interview listing agents.
Make sure the buyerâs 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.
We are a full service real estate team that believes in delivering world class service to our clients. We will do everything possible to ensure our clients real estate goals are met. Joshua Smith Real Estate Group has been rated the 30th top Real Estate Team in America by The Wall Street Journal and the only way to achieve this type of success is by providing extraordinary service to our clients. We look forward to helping you and your family accomplish your real estate goals!