Buyer’s Agent – What Is It & Why Do I Need One?
Do I Need A Buyer’s Agent
The answer to that is “if you want someone in your corner ensuring that you get the best possible deal and keeps the escrow on track – then yes”. If you want to wing it and go it alone, then the answer is “no”. Or if you prefer to work with the listing agent. Just keep in mind, the listing agent represents the Seller. That is who their fiduciary responsibility is with. So if their job is to get the most money for the Seller, how can they get you the buyer the best deal? There are many real estate agents who don’t represent both sides of the transaction because of this. They realize it is very difficult to represent the needs of both parties.
A buyer can have their own representation when purchasing a home and there is no cost involve. The seller generally pays the commission to your agent. If a buyer signs a contract to work exclusively with a specific REALTOR® that agent will work on behalf of the buyer to get the best deal while keeping all private information confidential. What most people don’t realize, that without a buyer-broker agreement, the selling agent’s fiduciary allegiance is to the seller and not the buyer.
Bottom line – if you have a Realtor you believe will do the best job for you – hire them. It’s a no cost guarantee to a more satisfying transaction!
Filed under: General RE Tips
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