The Importance Of Using A Buyers Agent (Part 1)
Being a real estate professional I am often subject to many of the same questions when it comes to real estate. My articles will try and answer some of the most common questions buyers have when thinking of purchasing a home. First I would like to talk about buyers agents. We tend to get many questions such as: "How much does it cost to use a buyers agent?", "What does a buyers agent do?", and "How can I use a buyers agent to my advantage."
First some quick terminology:
Listing Agent - The agent that works for the person SELLING a property
Buyers Agent- The agent that works for the person BUYING a property
How Much Does It Cost To Use A Buyers Agent?
- We get this question a lot, and what most people do not realize is, a buyers agent costs NOTHING. (To the buyers anyway.) That is not to say we do not get paid, however. Buyers agents are paid through the seller, which the seller agrees to in advance while they are signing there listing agreement. Therefore the buyer pays the buyers agent nothing!
When selling a property a seller sits down with an agent or company and agrees to pay the two agents (sellers agent, and buyers agent) a percentage of the sale. The Listing agent is paid for advertising, staging, marketing the home, while the buyer's agent is paid for bringing a buyer to buy their home.
Hopefully this clears up a common misconception; in part 2 I will discuss all the duties of a buyers agent towards a buyer.
Article By
Preston Hensley
Re/Max United
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