I find more and more that buyers are calling the listing agent of a property and expect them to have their best interest in mind. The listing agent represents the seller in a transaction, and should always have the sellers best interest in mind. Anything you say to the listing agent can, and will most likely be used against you in a negotiation.
Your Buyers Agent will know what to tell the sellers side without weakening your negotiating position. Here are some questions I want you to consider the next time you are on the fence about whether to use a Buyers Agent...
1) Do you know how to comprehend all of the local market data to best understand what is a good value, current trends, and absorbtion rates?
2) Are you familiar with a common residential real estate contract and how to interpret various clauses to protect yourself from making common buyer mistakes?
3) Do you know what not to say to the seller in order to avoid weakening your negotiating position?
4) Do you know the zoning regulations, building codes, and any other laws pertaining to real estate in the area you desire?
5) Are you familiar with the various loan types and special programs that you may qualify for?
6) Do you have the expertise to negotiate on your own behalf, especially if the seller has an agent negotiating for them?
7) Are you familiar with all of the documentation that is needed to complete a transaction in your desired area?
There is typically no fee for the expert services of a Westchester County Buyers Agent, the seller almost always pays the commission. There are times that a buyer can pay a commission if it is mutually agreed upon when signing an "exclusiveright to represent contract". Many of the items can be negotiated in the contract; length of time, specific areas, specific homes, to name a few.
Don't be afraid of the agreement. the purpose is to protect the buyer and the agent. Make sure your Buyers Agent properly explains the agreement in its entirety, along with the process, so that you fully understand what you are agreeing to. Setting expectations upfront is critical.
All agents in NY are Sellers Agents (even if they don't know the seller or represent a sellers listing) unless otherwise specified in writing by signing a 443 Agency Disclosure form (this is not a contract, but a requirement at first subtantive contact), or an Exclusive Right to Represent contract. By signing the 443 disclosure you are simply acknowledging you understand how you are being represented.
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