What is a Buyer's Agent, Buyers Agent Information: The Best Choice Realty

BUYING REAL ESTATE

What is A Buyer's Agent?

A buyer's agent is a real estate professional who represents the person who is purchasing a property. They should have a good feel for the local real estate market and be able to walk a buyer through the purchase process from beginning to end.

What Does a Buyer's Agent Do?

The typical services provided by a buyer's agent include:

Meeting with the homebuyers to assess their unique needs and desires and find homes to fit those requirements.
Helping the buyers determine the property price range they can afford
Providing a list of properties the buyer may be interested in viewing
Previewing properties before showing to the buyer
Setting up appointments for property viewings and accompanying the buyers as they view the properties
Presenting offers to the sellers on behalf of the buyer once a property has been selected
Handling all negotiations between the buyer and seller
Explain all contracts and paperwork involved in the real estate transaction
Ensure that the property is acceptable during the final walkthrough
Helping secure financing for the home loan

Types of Buyer's Agents

Not all buyer's agents are the same, so it is important when selecting an agent you ask the right questions to be sure you are going to get the level of service you expect. When considering a real estate professional to help with your home purchsae, there are three main types of buyer/agent relationships to understand.

Exclusive Buyer Agent
This type of agent will not represent a seller or help with listing a home. They work exclusively with homebuyers to help them purchase a home.
Single Agency Buyer Agent
Unlike the Exclusive Buyer agent, a Single Agency Buyer Agent will work with sellers as well as buyers. However, they will only work with one client on a given transaction. They do not work with a buyer and seller under the same real estate transaction.
Dual Agency Buyer Agent
Lastly, there is a buyer agent who represents both buyers and sellers, and will work with both parties during the same real estate transaction. This is referred to as a Dual Agency Buyer Agent. Because this agent is representing both sides of the purchase and sale, they cannot negotiate on behalf of either party.

Speak with your Realtor about which classification they fall under as your agent, and discuss the pros and cons of each to help you make an informed decision about the type of buyer/agent relationship to pursue.

What is a Buyer's Agent, Buyers Agent Information

BUYING REAL ESTATE