When a relationship is created between the purchaser and real estate agent, the agent must work in the buyer client’s best interests at all times.
Purchasers receive the same level of representation traditionally given only to the seller. Here are just a few of the benefits received from having your own personal buyer’s agent when purchasing:
Confidentiality – There agent you hire to represent you will not disclose confidential information without your permission to do so.
Loyalty – The buyer’s agent must work in the buyer’s best interests at all times. This means that the agent does for you what they would do for themselves in a transaction.
Full disclosure – The agent you hire to represent you will fully disclose any information gained form the seller or the seller’s agent that could be used by you in the transaction.
The buyer’s agent will search for all available properties. This includes For Sale By Owner, unlisted properties, new construction, foreclosures and others. A buyer’s agent’s job is to locate satisfactory properties for their client.
As the agent goes through the properties with you, they assist you in determining their strengths and weaknesses, allowing you to make informed comparisons. A lifestyle analysis is to be performed to determine whether or not the property would suit your particular needs.
The agent you hire to represent you in the transaction will do a market analysis on the chosen property and provide you with an offering range. They then set a negotiating strategy for you to assist you in acquiring the property at the lowest price and 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 required.
FAQs
Why should I use a buyer’s agent when purchasing a home?
A buyer’s agent represents your interests throughout the purchase and must work in your best interests. They can help you find suitable properties, compare strengths and weaknesses, assess whether a home fits your lifestyle, and negotiate the best price and terms possible.
What information does a buyer’s agent keep confidential?
The agent you hire to represent you should not disclose your confidential information without your permission. This helps protect details about your budget, priorities, and negotiating position during the transaction.
Can a buyer’s agent help me find homes that are not publicly listed?
Yes. A buyer’s agent can search beyond the usual listings, including For Sale By Owner properties, unlisted homes, new construction, and foreclosures. Their job is to locate properties that meet your needs and preferences.
How does a buyer’s agent help me decide what a home is worth?
The agent can review the chosen property and complete a market analysis to provide an appropriate offering range. They can then help develop a negotiating strategy based on the property and your goal of securing the best price and terms for your situation.
What does a buyer-friendly offer include?
A buyer’s agent prepares an offer to purchase that includes the contingencies and protective clauses needed to safeguard your interests. They can also explain the terms so you understand the offer before it is submitted to the seller.
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