In my dealings as a Realtor that works with both sellers and buyers, I have come up with some buyer agency myths. If you were to ask a group of average consumers, I will bet that 8 out of 10 would answer wrong. I will take them one at a time and continue for the next 4 days. Check back to see if you have the right idea of what a buyer agent can do for you.
The first question I will pose is : Who pays the fee for the buyer agent?
Knowing that today's buyer does much more research before hiring an agent I am sure that it will come as a shock to you to find out that the answer is: The Buyer pays the fee.
Thats right! Despite most agents advertising that the majority of time the service comes at no cost to the buyer, the simple math will tell you that they do.
I have a one page explaination for this on my website you can get to the page with This Link . For the sake of this blog I am just going to make the point that you should negotiate and have a preset commission in place and address ways of handling any shortages or overpayments by the listing agent.
For example if you agree on a 2.5% commission and the listing agent is offering out 3% then there is a half of percent difference that should be credited back to you. Or if you agree on 2.5% and the listing agent is only offering out 2% then you need to have a plan in place to make up the half percent that is short.
For more buyer information log on to my site at MassRealEstateHunter.com
Mike Giles
Keller Williams Realty
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