Buyers Agent Advantage

Every home buyer should find their own real estate agent.

When you see a home for sale, the name listed on the For Sale sign is the seller’s agent. Which means that person is working to obtain the best deal possible for the seller. That’s the wrong person to have negotiating on your behalf.

In the best real estate transaction, there are two realtors – the one who represents the person selling the property and the one who represents you, the buyer. A Real Estate Agent is paid a commission through the sale of the home. If each party has their own agent, they split the commission. There is no out-of-pocket expense for the buyer to have a buyers agent representative.

Here are some VERY GOOD reasons why you should have your own Real Estate Agent…

1. They should provide complete, unbiased information on all properties available.

2. You have more options. They are free to work through the multiple-listing service, with builders of new homes, or with homeowners selling their own property without an agent.

3. It is free to you. The seller normally pays the commission for the Buyer’s Agent and Seller’s Agent. That’s how it works in the real estate world!

4. After years of working for buyers, they should know all the tricks to getting you the best deal. They’ll do their best to ensure the seller pays fees associated with selling. Getting you the best deal is the goal.

5. They should share openly with you all information they have on the property, including how long home has been on the market.

6. They should research the market conditions in the neighborhood you’re looking at to make sure you are not paying too much compared to other homes sold in that area. They will share any information they have about the other homes for sale to make sure you offer the right price.

7. They should give you an honest opinion on all houses we look at with you. The goal is to get you the best deal period.

8. They should give you their undivided attention for as long as you need it.

9. They should keep all information you give them completely confidential.

*Disclaimer: Homebuyers Assistance does not represent buyers or sellers. However, we can refer you to realtors who specialize in the areas that you desire to live! Just ask us, click to call (916) 717-5626.

Buyer’s vs. listing agent: What’s the difference?

Buyer’s agents are legally bound to help buyers, whereas listing agents—the agent representing the home listing—have a fiduciary duty to the home seller. “That’s why it’s in your best interest as a buyer to get an agent who is there to represent you,” explains Alex Cortez, a Realtor with Wailea Village Properties LLC in Kihei, HI. “Think about it this way: If you were getting sued, would you hire the same attorney as the person suing you? Of course not. You need someone who will diligently fight for your interests and rights.”

Let’s say, for instance, you walked up to the listing agent at an open house and gushed about how you love the home and want to buy it, but you will need to move soon because you’re expecting your second child and need to decorate the nursery pronto, or the lease on your rental is up in a couple of months. A seller’s agent could then use this information against you by informing the seller that your clock is ticking, so they shouldn’t budge too much on their asking price—or at all.

Yet make this same confession to the buyer’s agent you’re working with, and it’s all fine—this professional would know to keep this info private from sellers (and their agents) so it can’t be used against you.

But don’t take our word for it. Keep reading to see what the other experts and the media have to say about the benefits of working with a buyer’s representative.

Here’s what the experts have to say about the benefits of using a buyer’s agent.

“If you’re acting for both parties, you’re not fighting for one or the other, you’re being a more neutral party,” said June Barlow, vice president and general counsel for the California Association of Realtors.

The buyer who is determined to avoid dual agency from the outset is best served by engaging an independent buyer’s agent from the outset.
San Francisco Chronicle

“A buyer who relies on the seller’s agent or on dual agency does not receive the same degree of legal protection as that afforded by an agent acting solely on behalf of the buyer.”
Snider v. Oklahoma Real Estate Commission

“…if you get the feeling that this time your agent is really on your side of the bargaining table, well, it’s true: If the agent is a ‘buyer’s agent.’”
Chicago Tribune

“Buyer brokers: agents that buyers can call their own…If your real estate agent isn’t a buyer broker, he works for the seller…Buyers no long have to fend for themselves.” U.S. News & World Report
“Many people don’t realize that, unless specifically stated otherwise, brokers are legal representatives of sellers. A buyer broker, representing only the buyer, may be able to secure a better price and better terms.”
Good Housekeeping

Agents: How to hire one for your side.” “Most agents who show you homes don’t represent your interests. They work for the seller, and their object is to sell the house for the highest possible price.”
USA Today

“Buyer brokers have the buyer’s interests in mind. They act as a personal advocate, hunting for the right house and haggling with the seller’s agent. In fact, a 1992 study by a national long distance phone company found that 200 relocating workers who used buyer brokers paid an average of 91% of the offering price, whereas those using traditional brokers paid 96%.”
Diversion Magazine for Physicians

A buyer’s agent protects the buyer’s interests during the crucial negotiating and closing process.

Nine out of 10 home buyers use a real estate agent in the search process, the National Association of Realtors estimates. While some buyers may complain about their experiences with aggressive listing agents, they should not be confused with buyer’s agents.

Both agents can set up house tours, but unlike the listing agent who represents the seller, a buyer’s agent protects the buyer’s interests during the crucial negotiating and closing process. The agent bargains with the seller on the selling price, facilitates the home inspection, negotiates contingencies and assists the buyer through the closing paperwork. Shopping without a buyer’s agent is a little like grilling tenderloin without a meat thermometer; you might not know there’s a problem until you’re sitting at the table.

Article by HGTV:

By: Tammy Stoner

“Since a buyers agent is looking out for a buyers best interest, they’ll help ensure the buyer gets the best deal possible. Below are the Top 10 reasons to hire a buyers agent when buying a house. Understanding these 10 reasons should make it clear that you need representation when buying a house.”

1) It’s Free To Hire A Buyers Agent

One of the most obvious reasons to hire a buyers agent when buying a house is that it’s free. There are very few circumstances where it costs money to hire a buyers agent.

It’s highly suggested as you think about choosing a buyers agent that you keep in mind they’re protecting your best interests during one of the biggest transactions you’ll ever take part in.

2) A Buyers Agent Knows What To Look For When Viewing Houses

This is only one example of what an experienced buyers agent can identify within a house when viewing them. Other common things a buyers agent can identify include;

Pest/Insect Issues
Potential Mold Issues
Roofing Issues
Leaks
Age(s) Of Major Components (Furnace, Air Conditioning Unit, Etc…)

3) A Buyers Agent Understands The Local Real Estate Market

It’s highly recommended as you hire a buyers agent that you make sure they have experience selling houses in the area. Hiring a real estate agent who doesn’t have an understanding of the local real estate market can cost you thousands of dollars should you make an offer that isn’t inline with local house values.

4) A Buyers Agent Can Help Evaluate & Secure Financing

It’s important to keep in mind as you’re securing financing that you strongly consider using a local mortgage company. Local mortgage companies understand what the process is for real estate transactions and also any local rules or regulations.

5) A Buyers Agent Will Coordinate Showings

One of the most overlooked tasks that a buyers agent performs on a daily basis is the coordination of showings for buyers. Coordinating showings can be tricky and something that gets confusing.

A great reason to hire a buyers agent when buying a house is they’ll be responsible for coordinating viewings of potential properties. Depending on a buyers house search, it’s possible that a buyers agent is coordinating a large number of showings in several different towns at a variety of different times.

6) A Buyers Agent Will Know How To Write Real Estate Contracts

Even if you’re buying your tenth house, it’s unlikely you’re familiar enough to navigate a real estate contract. When you hire a buyers agent when buying a house, you’re hiring a professional who knows the ins and outs of real estate contracts.

There are many parts to a real estate contract and having an experienced professional to guide you through the contract is vital. There are several real estate contingencies to consider including in a purchase offer, several deadlines that need to be set in a contract, and other important parts to within a real estate contract.

In addition to the important aspects within a real estate contract, an experienced buyers agent will know how to write a contract that presents you in the best possible way in the eyes of a seller. A real estate contract that is poorly written or a contract with missing or blank areas is a common reason why a purchase offer is rejected when buying a house.

7) A Buyers Agent Will Have Access To Experienced Professionals Needed During A Transaction

During the course of a real estate transaction there are several professionals that are needed. When you’re buying a house you’ll potentially need a mortgage originator, a home inspector, a real estate attorney, and a handful of other professionals.

When you hire a buyers agent when buying a house, you can expect they’ll have a pocketbook full of recommended professionals. An experienced buyers agent will have inspection companies, law firms, contractors, handyman services and other services that they can recommend to you.

8) A Buyers Agent Will Be Your Negotiator

One of the most frequently asked questions about buying a house relates to the amount that should be offered for a home. A huge benefit that you’ll receive when you hire a buyers agent is that they’re negotiating on your behalf.

Depending on the house you’re attempting to purchase and the current state of your local real estate market, having a top notch real estate negotiator can be critical.

For example, if you’re attempting to purchase an overpriced house, your buyers agent needs to know what it takes to purchase an overpriced house. This may include, but isn’t limited to completing a detailed comparative market analysis proving the house is overpriced or structuring the contract dates to appeal to the seller.

If you don’t hire a buyers agent, you’ll be required to do the negotiations by yourself. In the example of buying an overpriced house, there is a good chance that the majority of buyers don’t know how to make an offer on an overpriced house.

9) A Buyers Agent Will Keep The Transaction On Schedule

Delays in real estate transactions happen, but this doesn’t mean that it’s acceptable. A delay in a real estate transaction is frustrating to all parties involved, especially for a buyer and a seller.

10) A Buyers Agent Can Be Your Emotional Filter

Buying a house is very emotional and can potentially get the best of a buyer. Another great reason to hire a buyers agent when buying a house is they can act as an emotional filter.

Since a buyers agent isn’t emotionally attached to a specific property you may have interest in, they can help keep you from making an emotional and rash decision. Ultimately a buyer is the final decision maker, but a buyers agent can help a buyer weigh the PROs and CONs to potential properties while taking the emotion out of the decision.

Ready to house hunt? It’s a jungle out there!

Prepare for a flurry of paperwork, stampedes of buyers competing for the same digs, and other challenges before you get your hands on those house keys. We won’t lie: The process can be complex and stressful—which is why having a pro by your side can make all the difference.

You might have heard of buyer’s agents, seller’s agents, listing agents, and so on. You’re a buyer, so what is a buyer’s agent? True to their name, buyer’s agents assist home buyers every step of the way; they can also save you tons of time and money on the road to home ownership.

Benefits of using a buyer’s agent

“A buyer’s agent will guide you through the home-buying transaction and be at your disposal for any questions or concerns,” says Shane Wilcox, a Realtor® with Partners Trust.

Here are some of the things a buyer’s agent can do:

Find the right property. After determining what clients are looking for and what they can afford, the agent will schedule appointments to tour homes that fit the bill. The agent can also explain the ins and outs of various properties and neighborhoods to help buyers decide which home is right for them by explaining the pros and cons of various options.

Negotiate the offer. The buyer’s agent will advise clients on an appropriate price to offer and present it to the seller’s agent. “Then they will negotiate on your behalf and write up the contracts for you,” says Matt Laricy, a Realtor with Americorp Real Estate in Chicago. This is where the agent’s experience in negotiating deals can save you money and help you avoid pitfalls like a fixer-upper that’s more trouble than it’s worth.

Recommend other professionals. A buyer’s agent should also be able to refer you to reliable mortgage brokers, real estate attorneys, home inspectors, movers, and more. This can also help expedite each step of the process and move you to a successful sale all the faster.

Help overcome setbacks. If the home inspector’s report or appraisal brings new issues to light, a buyer’s agent can advise you on how to proceed, and then act as a buffer between you and the sellers or their agent. If negotiations become heated or hostile, it’s extremely helpful to have an experienced professional keeping calm and offering productive solutions.

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