There is no denying that the real estate language can be confusing. Although, one term that is straightforward is a “Buyer’s Agent”. A Buyer’s Agents is a real estate agent who represents only the buyer of a property in a real estate transaction. This type of agent agrees to exclusively represent the best interest of the buyer, usually under a formal contract. A Buyer’s Agent is worth a million when it comes to buying a house.
The beauty of a Buyer’s Agent, they work for one person, the buyer! It costs nothing to hire a Buyer’s Agent, as all commission are paid by the seller. The second bonus of a solid Buyer’s Agent, is they will not only will work for you to negotiate the best price for the home, using their expertise with the market conditions, but they will provide you a tremendous amount of knowledge, relating to which lenders to use, home inspectors, contractors, insurance agents, appraisers, etc.
One of the key tasks for a Buyer’s Agent is keeping things on track. Buyer’s Agents coordinate the timeline so things run smoothly, such as inspections, repairs, loans, title, and escrow. A good Buyer’s Agent will coordinate with all the parties involved with the transaction to ensure the closing will occur on time. This isn’t a task they take lightly. If you don’t have someone in your corner leading the transaction through its various stages, there is a good chance that things won’t close on time, and you may find yourself spending a few nights at a local hotel.
There are two key support roles of a Buyer’s Agent: emotional and legal support. Realtors have a fiduciary responsibility to their clients and need to understand the legality of the transaction. In addition, purchasing real estate, as well as the back and forth of negotiating, can be a highly emotional process. Buyer’s agents understand the contract, have continuing education requirements to keep up to speed on the always changing market, and understand the responsibilities that come with meeting the terms and timelines of the contract, so the selling party doesn’t breach the contract.
Buying a home is an exhilarating experience. The hunt. The find. The score. To ensure that you minimize your costs and to get the best deal on a home, it is crucial to have a Buyer’s Agent represent you. Use their knowledge and experience and tap into their huge resource base to make the process a positive experience. Truly, there isn’t a better deal in real estate than hiring a Buyer’s Agent. Contact me for more information, I would be happy to help you buy your next home.