The following information is the first in a series of Buyer Tips to provide tips for both the first-time homebuyer and 
the most experienced homebuyer. The goal is to help the consumer to become better educated about purchasing real estate in Colorado Springs and the surrounding area.
For a FREE Buyer's Guide, Email KTorline@msn.com
Tip #1
Who's working for you?
A Buyer's Agent represents the buyer in a real estate transaction. The Colorado Springs real estate agent becomes the Buyer's Agent by entering into an agreement to represent the buyer, usually through a written buyer representation agreement. Under this agreement, the Buyer's Agent owes his fiduciary responsibilities to the buyer. According to the Colorado Buyer's agency agreement, a Buyer's Agent has the following additional duties: Promoting the interests of Buyer with the utmost good faith, loyalty and fidelity, Seeking a price and terms that are acceptable to Buyer, and Counseling Buyer as to any material benefits or risks of a transaction that are actually known by Broker.
The State of Colorado has a form called Definitions of Working Relationships, which does 
a great job of explaining the different relationships that are available, including a Transaction Broker
A Seller's Agent, or the listing agent, represents the seller, not the buyer. His or her loyalties are to the seller. They must tell the seller anything you tell them, even if it hurts your negotiating position. When visiting an open house, ask if the agent hosting the open house is representing the seller or potential buyers. If they are representing the seller, be careful what you tell the agent. Remember, a Seller's Agent cannot be your advocate or assist you in investigating the property's value because he or she works for the seller, and by law is obligated to act in the best interest of the seller.
Although the benefits of a Buyer Agent are obvious, many individuals do not know they can have their own Colorado Real Estate agent look out for their best interests. Kathy has received The Accredited Buyer's Representative (ABR®) designation, which involved extensive classes for real estate buyer agents who focus on working directly with buyer-clients.
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Original article was posted at: Who is Representing YOU?
A Colorado Springs Real Estate Agent You Can Trust
Selling HOMES in El Paso & Douglas County; including Colorado Springs, Monument, Fountain, Larkspur, Pueblo, Castle Rock, Manitou Springs, Woodland Park, Palmer Lake, Woodland Park
www.Kathytorline.com & www.ColoradoSpringsVintageHomes.com
Posted by KAT
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