What Is A Buyer’s Agent?
Buyer’s agents are specialists in the home buying process that represent home buyers with their best interest in mind. The function of the buyer’s agent is to locate the best property to meet the client’s needs at the lowest possible price.
Buyer’s agents have a fiduciary duty to their client, meaning they are required by law to get the best price and best terms for the home buyer. Consumer advocates recommend that home buyers take advantage of the benefits offered by buyer agents. In most cases the commission to a buyer’s agent is paid by the seller.
Using a buyer’s agent means that you will be shown homes from the Multiple Listing Service (MLS) and homes that are For Sale By Owner (FSBO). When you ask a buyer’s agent to show you property, you are implying that you will eventually write an offer through that buyer’s agent. Some buyer’s agents may ask for a buyer broker contract which is a binding agreement between and buyer and buyer’s agent to work together.
Buyer’s Agent Services May Include
- Introducing you to lenders and obtain loan preapproval letters
- E-mail listings that fit your requirements
- Call listing agents to determine availability
- Make appointments with sellers before showing homes
- Drive from one neighborhood to the next, sometimes touring up to 10 homes a day
5 Questions to Ask a Buyer’s Agent
- Will you represent my interests only or those of the seller?
- Do you or your brokerage represent any sellers or builders?
- Do you have full access to the Multiple Listing Service?
- Will you show me for sale by owner properties?
- What experience do you have as an agent and buyer broker? What other designations or credentials do you have?
Contact a Buyer’s Agent
At eXp we have qualified, professional buyer’s agents with thousands of successful transactions working with buyers in many different situations. Use the contact form below and we will match you with a professional in your area to answer any other questions you may have!
