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What is Buyer's Agency and Why Do I Need One?"

Here are some basic questions and answers

Do I need a Buyer’s Agent? Typically, a real estate agent works for the seller of the home. They represent the sellers needs and interests and have loyalty and responsibility to them. When it comes to buying a home, a buyer without representation from a buyers agent is relying on the sellers agent to negotiate the best deal for them.

Does that make sense?

With a buyers representative, you have someone working on your side , providing you valuable information regarding the home, sellers motivation, and full loyalty to you helping you get the property with the most information.

Simply put, a buyers agent allows the agent with whom you are working to be YOUR representative and to put your interests above all others

How does this benefit me? The benefits are huge. Bottom line, if an agent represents the seller, the agent cannot reveal certain things to you, the buyer, such as:

¨ The reason for selling . (unless the seller authorizes it)

¨ Any concessions in price or otherwise that the seller may be willing to give up.

¨ Any conversations that the seller and the agent may have had.

¨ Any information that could be detrimental to the seller , or give you, the buyer , an advantage.

Buyers Agency Turns the Tables If an agreement is struck between you and your agent, it is YOU , not the seller, who has the representation from the agent. Some benefits include:

¨ Preparing of a Comparable Market Analysis ( CMA) indicating the price that other sold properties have sold for. This could document that the seller is unrealistic in the asking price.

¨ The ability of the agent to reveal to you seller conversations, potential concessions or anything else that may be to your advantage.

¨ The supplying of information about property value trends that may influence your decision about a certain area .

In addition…A Buyers representative can:

¨ Evaluate your specific needs and wants and locate properties that meet those specifications.

¨ Assist you in determining the amount you can afford.

¨ Research selected properties to identify any problems or issues to help you make an informed decision about the property.

¨ Help to advise you on structuring an appropriate offer on the selected property.

¨ Negotiate on your behalf to help obtain the selected property.

How Much Does A Buyers Representative Cost?

Typically NOTHING. Commission fees are typically split by the selling agent so you essentially get all of this assistance for FREE!

Why Would Some Not Want A Buyer’s Agent?