You’re ready to buy a house. You see a home you like so you call the agent who has it listed. Don’t get us wrong, as REALTORS®, we love when people call us about a home we have listed and they don’t already have an agent. That being said, we do recommend that you have a buyer’s agent. But why do you need a buyer’s agent?
What is a buyer’s agent?
A buyer’s agent is a licensed real estate agent with a fiduciary responsibility to their client (YOU!). We are the ones who help you find the homes and show them to you. When you are ready to put in that offer, we assist you with the paperwork and in negotiating the best deal for you. We handle much of the paperwork and behind the scenes things that are necessary. This includes arranging a closing attorney and working with your lender to make sure everything is ready for closing. We act as a step-by-step guide throughout the entire process.
Why do I need a buyer’s agent?
In the end, through their knowledge and expertise, a buyer’s agent saves you time and money. We have the knowledge of real estate and the homebuying process. In my opinion, one of the biggest assets we bring is our familiarity with the neighborhoods that we serve. This helps you avoid some of the common and no-so-common pitfalls in the market today! Whether you are a first time homebuyer or a seasoned home buyer, we recommend having a buyer agents to assist and make the process as easy as possible for you.
What does a Buyer’s Agent do for You?
We are your cheerleader! We watch out for you, guide you along the process, make sure you are getting the best deal, and help make sure all the paperwork is done appropriately. It is not just about negotiating the price and handling paperwork. We also do the following:
- Listen to your wants, needs, likes, and dislikes. Your buyer’s agent will help you find the right house for your lifestyle. Want to be in a certain school district? We can steer you in the right direction. Looking for a one-story with a fenced in yard? You got it, we can help with that too! We can pull only houses that meet your criteria so we don’t waste time looking at homes that don’t fit the bill.
- Be in constant communication. When you find the perfect home, you need to act quickly, especially in this market. As a buyer’s agent, it is our duty to let you know of homes that fit your needs/wants as soon as they hit the market, or sometimes even before! We are ready to drop everything and show you a house anytime, whether it be a Saturday morning or a Thursday evening. It’s our job – do not worry about bothering us!
- Put you in touch with other professionals. We have connections to the experts in related industries, such as home insurance professionals, inspectors, mortgage lenders and more. We work with these people every day, so if you are in need of anything from a mortgage lender to a lawn company, ask us!
- Act as a proxy or go-between. Sometimes, despite everyone’s best attempts, things don’t go as planned, and in something as high-stakes as a home sale, emotions can run high. We can act as a proxy between you and the seller, helping to keep things professional and moving forward.
How much is a Buyer’s Agent Fee, and Who Pays?
WAIT…. if you’re doing all this work for me, how much do I owe you? NOTHING! As a buyer’s agent, the seller of the home pays our fee – not by you! How about that? We help you find the perfect home, guide you through negotiations, paperwork, closing, and beyond…. all for FREE!
Both buyer’s and seller’s agents work on commission, which is typically split between the agents and their respective brokerages.
Should You Sign an Exclusive Buyer Agreement with Your Agent?
Some buyer’s agents will ask you to sign an exclusivity agreement stating that you’ll work with them and only them throughout the homebuying process.
The primary benefit of an exclusive agreement is that you know you will have a high level of attention from your agent. These agreements also protect the agent’s interests, since a typical agency agreement doesn’t require you to stick with one agent.
Whether or not you choose to use an exclusive buyer’s agent should depend on how much you like and trust the agent, and if you think such an agreement is in your best interest. Some homebuyers find it easier to deal with a single agent, whereas other people prefer the flexibility and range of multiple agents.
The Bottom Line: You Probably Want a Buyer’s Agent
A buyer’s agent is your ticket for a smooth journey to homeownership. The benefits are clear: from start to finish, we are on your side. We save you time, we provide real estate expertise and professionalism, and there is no immediate cost to you.
So, reach out, start a conversation with us and let us assist you in finding your perfect new home!