Buyer Agency

Whether you are the Seller or a Buyer of real property,

you can choose to have the advice, assistance and representation of your own agent.

FREQUENTLY ASKED QUESTIONS:

WHAT IS A BUYER'S AGENT?
* Unless contracted to do otherwise, do not assume that an agent is working for you! A Buyer's Agent is a real estate agent that works exclusively for the Buyer. As a Buyer's Agent, the BUYER is the agent's client. As a Buyer's Agent, the broker is obligated by law to act as the sole and exclusive agent of the Buyer and to protect the Buyer's interests at all times

WHAT IS A SELLER'S AGENT?
* A Seller's Agent is a real estate agent that works exclusively for the Seller. Even though the agent may be working directly with the Buyer, the SELLER is the agent's client. As a Seller's Agent, the broker is obligated by law to act as the sole and exclusive agent of the Seller and to protect the Seller's interests at all times. Unless otherwise instructed, ALL LISTING AGENTS ARE SELLER’S AGENTS!

I'VE HEARD THAT THERE IS USUALLY NO ADDITIONAL COST FOR BUYER REPRESENTATION. HOW DOES THE AGENT WHO IS WORKING FOR ME GET PAID?
* In the listing of a property for sale, the owner signs an agreement with the listing office to offer compensation to the “selling agent”. In most cases, therefore, compensation is offered equally to a Seller's Agent, a Buyer's Agent or a Facilitator. After closing, with the owner’s contractual consent, the listing office pays a brokerage fee to the Buyer's Agent just as it would to a Seller's Agent or a Facilitator, with no additional cost to the Buyer.

DO AGENTS HAVE TO GET CERTIFIED TO WORK AS "CERTIFIED BUYER AGENTS"?
* YES! There is an intensive course and exam that must be passed before brokers can work as a "Certified Buyer Agent".

WHAT TYPE OF SERVICES DO BUYER AGENTS PROVIDE?
* As a Buyer's Agent, the BUYER is the agent's client. The agent, therefore, has a contractual duty to put the Buyer's interests first when negotiating price and terms for the Buyer client. Services include:

Buyer Agent Services Include the Following:

• Providing advice and counsel to the Buyer

• Keeping all Buyer information, motives and conversations confidential

• Promoting and protecting the Buyer's best interest

• Recommending and assisting with financing by suggesting programs and options that best suit the Buyer's needs

• Recommending legal representation and other professional advice

• Providing undivided loyalty, utmost care, disclosure, and obedience to lawful instruction

• Bringing property listings to the attention of the Buyer that meet specific desired criteria

• Spotting and pointing out potential problems and possible reasons for the Buyer NOT to buy a specific property

• Providing an unbiased analysis of a property's strengths and weaknesses

• Providing accurate information

• Explaining forms and agreements

• Recommending and assisting with inspections and all other offer contingencies

• Strategizing and negotiating the best terms and conditions for the Buyer

• Monitoring the entire transaction process

• Assisting with closing details

• Continuously acting as sounding board and informational resource for the Buyer
  
  

REMEMBER . . .
An agent is not working on a Buyer's behalf without a signed "Buyer Agent Contract" in place!