Why Do You Need a Buyer’s Agent?

At least once a week someone asks me, “Why do I need a Buyer’s Agent?“.

With the huge selection of high-quality real estate websites, real estate search engines with local MLS search ability and Open Houses sprinkling popular (and not-so popular) neighborhoods every weekend, buyers have a tremendous amount of information at their fingertips to help them find a home in the area where they want to live.

With that in mind, buyers may wonder, what is the “value add” for using a Buyer’s Agent?

Buyer’s Agents work for the buyer, period. Not for the seller, not for the developer, not for anyone other than the person, the principal, the BUYER, that engages their services. In almost all instances, the Buyer’s Agents fees (or commission) are paid for by the seller out of the proceeds of the transaction.

The fiduciary duty of a Buyer’s Agent is to represent the best interests of their client – and if you are a buyer, that means YOU. The Buyer’s Agent is required to negotiate for the best terms for a real estate transaction for their client, including the best price and terms for the transfer of the property.

Unlike a dual-agent (who represents both the buyer and the seller in some states), the exclusive Buyer’s Agent has no conflict of interest.

When I agree to work with a client as a Buyer’s Agent, we execute a Buyer’s Representation Agreement at the beginning of the home search process. This agreement spells out the responsibilities I have to the Buyer in straightforward language and makes sure that there are no questions about where my loyalties are. It also offers the Buyer (YOU!) a choice with regards to how they would want the situation to be handled if we find the perfect home and that home is listed by an agent in my office (or even by me). Up-front disclosure is key – you have a right to be informed of your rights with regards of representation in a real estate transaction!

Some of the services you will receive include:

• Listings emailed to you based on your preferred search criteria. If you want, I’ll pick through them first and weed out the ones that may superficially meet your criteria but have serious compromising issues, such as a considerable amount of deferred maintenance.
• A personal chauffeur (yes, me) to drive you to the listings that made it to the top of your “Go See” list.
• A sounding board for your interests, worries, plans, and dreams with regards to buying a home (really, just about any topic!!)
• Strategic planning sessions for finding what you need, when you need it.
• Strong negotiations representing your position and your intentions in each transaction.

If you have any questions about Buyer’s Representation, please give me a call at (512) 585-4758, or send me a note via the on-line contact form and I will be happy to answer your questions!