What Is A Buyers Agent

Dated: 11/19/2014

Views: 477

What is a Buyer's Agent, and why do I need one? 
A Buyer's Agent represents you the Buyer, NOT the Seller. The Buyer's Agent (BA) has your best interests and will act as your Project Manager. The BA listens to your wants, and needs in order to do the research and finds the best home to match your goals. The only thing a BA has to sell is themselves, as this is your home not theirs! You will live there not your BA. When you tour a home with your BA, you will be looking at the home through the prism of aesthetics and layout. Your BA should be pointing out mechanical updates the Seller has done to maintain the home. How do I compensate my BA? Simply put your BA works for you, but is paid by the Seller when you get to settlement. What?? You see when a Listing Agent negotiates with the Seller to put their home on the market the do so and agree to an amount the Seller will pay to find a Buyer. From the amount of commission they agree to a portion of that is used to pay the BA. Thus you get the knowledge and experience and service of an Agent who will give you as much information you need to make your decision about a home and not pay for that knowledge and experience! As a side, if you walk into an open house or see a home on the internet and call the Listing Agent, that Agent must represent the Seller and not you! That commission they agreed to pay the BA will still be paid but will go to the Listing Agent. To wrap this up, if you are thinking about buying a home and want to be represented in the purchase call me, don't call the Listing Agent I'll have your best interests at heart! 

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