In today's buyer's market it is even more important that buyer's be represented fairly. Many consumers don't understand how agency relationships work, and may make the assumption that they are being fairly represented when they are actually not. Too often a buyer will make the mistake of calling a number of a For Sale sign not understanding that this agent represents the seller, whose primary objective is to sell them this property, not look out for their interests.
An exclusive buyer's agent is different because this agent never takes listings (represents the seller). Instead an exclusive buyer's agent zealously represents the buyer in all aspects of the transaction. The buyer's agent is there to fight on behalf of the buyer. Helping the buyer to find the property that fits them best regardless of who lists the property. It is not the buyer's agent job to sell the property but instead should play devil's advocate and look for possible defects in the property that may cause the buyer problems down the road.
Interviewing different agents! Don't just use the first agent you make contact with or someone tells you about. Here are some Buying Tips on finding the right Buyer's Agent:
1. Ask questions about their experience and ask for some references from past clients
2. Discuss agency and make sure you understand how you will be represented. Make sure that the agent will be your sole representative at all times
3. Discuss options on how your agent is paid and by whom
4. Find out how many clients the agent currently has and how much time they will be able to devote to you
5. Find out if you will be working primarily with the agent you are interviewing or if they will pass you off to an assistant
These simple questions can help you understand what kind of relationship you will have with your agent and how you will be represented. Knowledge about agency and the buying process will help ensure you are getting the best possible property at the best terms!