So you’ve seen your dream home listed on the Internet or in your local Real Estate guide. You might be thinking, “I am interested in buying that house, why don’t I call the Listing Agent to make an offer?”
Answer: because the Listing Agent represents the Seller of the home and that means they only have the Seller’s best interest at heart. The Seller’s Real Estate Agent is required to act in an honest and fair way with you, however, the Agent's loyalty, without other disclosure, is focused on obtaining the best deal for the Seller! Using a Buyer's Broker (a separate Real Estate Agent), who has your best interest in mind, may help you shave thousands off a home's purchase price, mortgage or various other costs, and there is no fee to you the home buyer. Typically, the Buyer’s Agent is paid with proceeds from the sale of the home at closing.
When you, the Buyer, sign a contract with a Buyer's Broker, that Broker then works for you, they represent your best interest in the entire real estate transaction. A Buyer's Broker is legally required to represent your best interests, to follow your instructions, and to obtain for you, at the best possible price and terms, the property which you want to purchase. The Agent also works for you in the negotiations and ensures a successful closing of your dream home.
Unless you have a written agreement with a Real Estate Agent, who is going to show you the property, you cannot be sure whether or not they are really working for the Seller. When an Agent represents you as a Buyer’s Agent, that agent has YOUR best interest at heart. Think about this, you are entering into an agreement that is typically for 30 years and worth hundreds of thousands of dollars – don’t you think you need someone looking out for your interests?
What might a BUYER’S AGENT do for you?
Represents only the buyer in every part of the purchase process.
Provides the buyer professional advice and guidance in finding the right property at the right price.
Previews properties to ensure they meet the buyer's requirements.
Researches the property and the market conditions, so the buyer can purchase at the best price.
Assists in preparing an offer to purchase the property with terms favorable to the buyer.
Professionally presents the offer to purchase to the seller.
Negotiates with the seller to obtain the property at the best price and terms for the buyer.
Provides the buyer with an estimate of the costs involved in the transaction.
Assists the buyer in contacting the professionals necessary to complete the purchase, including mortgage services, title insurance and escrow companies, and home inspectors.
Monitors performance of all others involved in the transaction to make sure all services are promptly and professionally carried out.
Accompanies buyer to the closing to verify that all terms and conditions of the purchase agreement are met.
Just remember, if you don't have the Agent working for you by way of a signed agreement, he or she is working for the Seller.
If you are preparing to buy your dream home and you’re not presently being represented by an agent (under a written Buyer's Broker Agreement with that agent) and have any questions about being represented by me, please don’t hesitate to give me a call.
Source: National Association of Realtors
Answer: because the Listing Agent represents the Seller of the home and that means they only have the Seller’s best interest at heart. The Seller’s Real Estate Agent is required to act in an honest and fair way with you, however, the Agent's loyalty, without other disclosure, is focused on obtaining the best deal for the Seller! Using a Buyer's Broker (a separate Real Estate Agent), who has your best interest in mind, may help you shave thousands off a home's purchase price, mortgage or various other costs, and there is no fee to you the home buyer. Typically, the Buyer’s Agent is paid with proceeds from the sale of the home at closing.
When you, the Buyer, sign a contract with a Buyer's Broker, that Broker then works for you, they represent your best interest in the entire real estate transaction. A Buyer's Broker is legally required to represent your best interests, to follow your instructions, and to obtain for you, at the best possible price and terms, the property which you want to purchase. The Agent also works for you in the negotiations and ensures a successful closing of your dream home.
Unless you have a written agreement with a Real Estate Agent, who is going to show you the property, you cannot be sure whether or not they are really working for the Seller. When an Agent represents you as a Buyer’s Agent, that agent has YOUR best interest at heart. Think about this, you are entering into an agreement that is typically for 30 years and worth hundreds of thousands of dollars – don’t you think you need someone looking out for your interests?
What might a BUYER’S AGENT do for you?
Represents only the buyer in every part of the purchase process.
Provides the buyer professional advice and guidance in finding the right property at the right price.
Previews properties to ensure they meet the buyer's requirements.
Researches the property and the market conditions, so the buyer can purchase at the best price.
Assists in preparing an offer to purchase the property with terms favorable to the buyer.
Professionally presents the offer to purchase to the seller.
Negotiates with the seller to obtain the property at the best price and terms for the buyer.
Provides the buyer with an estimate of the costs involved in the transaction.
Assists the buyer in contacting the professionals necessary to complete the purchase, including mortgage services, title insurance and escrow companies, and home inspectors.
Monitors performance of all others involved in the transaction to make sure all services are promptly and professionally carried out.
Accompanies buyer to the closing to verify that all terms and conditions of the purchase agreement are met.
Just remember, if you don't have the Agent working for you by way of a signed agreement, he or she is working for the Seller.
If you are preparing to buy your dream home and you’re not presently being represented by an agent (under a written Buyer's Broker Agreement with that agent) and have any questions about being represented by me, please don’t hesitate to give me a call.
Source: National Association of Realtors
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