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HOW TO USE A BUYER'S AGENT TO YOUR ADVANTAGE

By
Real Estate Agent with California Residential Consulting

Buying a home is a huge decision and commitment. Just as important as that decision is, the agent you chose to assist you may be just as important. Perhaps, even more critical.

For example, a buyer's agent, or, a buyer's specialist, solely represents your interests. They negotiate for the best price and terms on your behalf. Remember, the listing agent, already has a fiduciary and legally binding relationship with the seller. In the best of circumstances, this may be a conflict of interest.

A good buyer's agent:

  • Will be your "connection" in the Real Estate business.
  • Will preview properties for you, help you narrow your search, thus, eliminating 'no's" quicker - saving you precious time and energy.
  • Will sometimes be privy to homes for sale that are not currently listed, and homes offered on Broker caravans before becoming “live” on the Multiple Listing Services.
  • Will represent your financial interests.
  • Before writing an offer, show you all the comparable sales in the neighborhood, this gives you a total market overview, this way you may determine the best offer price together.
  • Will negotiate for the best price/terms, closing costs and repairs, if necessary.
  • Will provide valuable referrals to industry professionals, ie..lenders, title reps, inspectors, termite companies, plumbers roofers, electricians, and carpenters, etc.

Interview agents. Sellers customarily interview several agent in an attempt to form a good working relationship with their real estate agent. They know an experienced professional will garner the best and highest price for their property.

Smart buyers would be wise to take this cue and take their time selecting an agent to represent them, rather than just randomly calling the agent who’s name is on the property they are standing in front of. It is just as important for a buyer, when making such a big decision, that they, too, have a rapport with their agent. They should feel comfortable with knowledge and experience of the person they are working with has.

To Get the Most of Buyer’s Agent relationship, here are some things to consider:

  • It is important that you have open lines of communication with you at all times during the transaction.
  • How long have they been an agent?
  • How many transactions do they close a year. How many are buyers, and how many are sellers?
  • Is your agent part of a team? If so, meet other team members.
  • Does your agent have a transaction coordinator? This is the person that will be keeping track of the myriad of paperwork involved in buying a home. Organization will keep confusion at a minimum.
AND

The most important reason to use a buyer's agent, is, because the commission is included in the seller's fees, the services of a buyers specialist, is FREE to the buyer! 

You can leave the details to me while a negotiate a great steal for you.

Carlsbad Coastal and San Diego County

Comments (2)

Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

TJ, good points. I don't understand why a buyer would not want buyer representation. Thanks for sharing.

Good Post!

May 30, 2008 02:06 AM
Anonymous
Catherine Jewell

This is very informative and well written.  The best advice I have read or heard since the sub-prime market began.

Jun 04, 2008 08:44 AM
#2