MAXIMIZE
HOME-BUYING POWER WITH A PROFESSIONAL
Plug Into Buyer's Agency For A Successful Home Purchase
In a recent poll for the National Association of Realtors, 71% of the
home buyers surveyed said they would use a buyer's agent to help them
buy their next home. They have good reasons!
Buyer's agency is a relatively new development in the real estate industry.
Until about a decade ago, residential real estate agents represented sellers.
Whether they were the "listing agent" or the agent who brought the buyer
to the contract, both were legally bound to represent the seller's interests.
That's all changed today. Savvy buyers can now put a professional on
their team, representing their interests, by working with a buyer's agent.
Benefits
When you sign a contract to have an agent represent you in the home-buying
process, you'll get a whole host of benefits, which may not cost you a
dime. Your buyer's agent can:
- Search for homes that meet your specifications through the
Multiple Listing Service, highlighting the important features of properties
on the market. You'll spend less time looking at homes that don't fit
your needs or are out of your price range.
- Monitor listings to make sure you know about new properties
on the market as soon as they are listed-an important advantage when
the inventory of homes is low and competition for them is fierce.
- Network with other agents to learn about homes before they're
advertised or held open, giving you the jump on other buyers.
- Tell you what they know about the seller and the property:
reasons for selling and timetable; whether sellers might accept a lower
price; how long a home has been on the market, advantages and disadvantages
of the property; previous offers and counteroffers.
- Help negotiate a contract with the best terms for you-not the
seller.
- Advise you and monitor your progress through the settlement
process.
Responsibilities When you contract to work with a buyer's agent,
the agent is legally obliged to provide you with care, confidentiality,
full disclosure and accurate accounting. Depending on your contract with
the agent, you may promise to let the agent represent you for a specified
period of time and in relation to any properties you become aware of during
that period.
Cost
In most cases, though not always, buyer's agents receive their fees from
the sales commission specified in the seller's listing agreement. The
seller's listing agreement often stipulates that the commission they pay
will be split between their own agent and the agent who brings a buyer
to the settlement table-regardless whether that agent represents the buyer
or not. In other cases, however, buyers pay a fee or hourly rate for their
buyer's agent's services. To find out more about how you can take advantage
of our professional services as you buy your next home, please feel free
to give us a call.
Real Search is a service that provides home buyers with FREE updates of new listings on the market that match your criteria.
