Exclusive Buyer Representation
Buyer agents work to negotiate
the best terms and price for the buyer. Best of all, the buyer agent’s services
are free to the buyer.
people think they have to pay a sales commission. The truth is this: only the seller pays commission.
Whether a buyer uses an agent or not, the seller still pays the
commission. The only person that wins when buyers are not represented is the listing agent.
buyer agents will have their clients sign an agency agreement, an Exclusive
Buyer Agency Agreement. It outlines their services, how they are compensated,
and how the two parties will work together.
ensure you’re working with an agent who specializes in representing buyers,
seek out an Accredited Buyer Representative (ABR).
you wouldn’t hire your spouse’s attorney to represent you in your divorce. The
same goes for real estate. Why use the seller’s agent to negotiate your best
interest? There is an inherent conflict of interest.
The home buying process is stressful enough without worrying
about who you can and cannot trust. Your buyer’s agent is your trusted advocate.
Buyer Agents and
to most buyer agency agreements, the buyer’s agent must do these things:
- Protect their client’s
- Negotiate the best possible
price for the buyer
- Must disclose to the buyer if
they are working with another buyer interested in the same property
- Show all properties the buyer
is interested in that fits their criteria and budget
- Connect you with the service
providers—inspectors, lenders, home warranty companies—to best
suit your needs
buyer also has some responsibilities to their buyer’s agent:
- Buyers must work with their
buyers agent exclusively
- Buyers should never give
personal information to any other agent
- Buyers should not call other
agents to see properties, even if they think they are saving their agent
some time and effort
- Buyers should clearly define
their must haves and deal breakers to help their agent streamline the
This article came from Realtor.com
and the content is spot on-
CLICK HERE to learn about Exclusive Seller Representation.