What are Some of the Benefits of
Using a Buyer Agent?
When a relationship is created
between the purchaser and the real estate agent, the agent
must work in the buyer client's best interest at all times,
thereby providing purchasers with the same level of
representation traditionally given only to the seller. Here
are just a few of the benefits you will receive from having
your own personal representative when seeking to purchase
property:
Confidentiality -
The agent you hire to represent you will not
disclose confidential information regarding motivation,
price and terms, or anything else of a personal nature to
the seller or seller's agent without your permission to do
so.
Loyalty - The
buyer's agent must work in the buyer's best interest at all
times, even if it is not in the agent's personal best
interest to do so. This means that the agent will virtually
do for you what they would do for themselves in the
transaction.
Full Disclosure -
The agent you hire to represent you will
fully disclose any information gained from the seller or the
seller's agent that could be used by you in the transaction.
In addition, the buyer's agent will undertake a level of
diligence and discovery that will give you the necessary
information to make an informed decision as to the property
you wish to purchase.
The buyer's agent will search
for all available properties for sale by owner, new
construction, listed properties, and others and will not
limit their showings to properties they have listed. A
listing agent's job is to move the inventory of their seller
clients. A buyer's agent job is to locate satisfactory
properties for their client.
As the buyer's agent goes
through the properties with you, they will assist you with
analyzing the properties and determining their strengths and
weaknesses, allowing you to make informed comparisions.
The buyer's agent you hire to
represent you in the transaction will do a market analysis
on the chosen property and will provide you with an offering
range for that particular property. They will then set a
negotiating strategy for you to assist you in acquiring the
property at the lowest price and the best terms possible for
you situation.
The buyer's agent will
complete an offer to purchase that is " buyer friendly", and
contains the contingencies and protective clauses you need.
These are just a few of the
benefits received from having your own personal buyer agent
when purchasing. Considering that the majority of buyer
agents are paid through the transaction or by the seller's
agent ,it makes sense to have your own representation.