What Is The Point Of A Buyer Agent?
You’ve been dreaming, planning, saving and now you are ready to take the plunge into homeownership! You’ve been online saving all your favorite homes and are ready to take a look, now what? Do you hire a Realtor? Do you need one? Can’t you just call the listing agent? Let’s take a look at why having your own Buyer Agent is the way to go.
A Buyer Agent will represent YOU and only YOU during the transaction. They will work to negotiate the best price and terms for you, their client. If that’s not enough, a buyer agent’s services come at no cost to you the buyer. The reality is the seller pays the commission for both the agents in the transaction. This amount is predetermined between the listing agent and the seller before you’ve even seen the property. So whether or not you choose to use your own agent to represent you the commission is already set aside. But keep in mind, the listing agent’s job is to net the seller as much money for their home as the market will bear.
Once you choose your Buyer Agent to represent you, they will have you sign an Exclusive Right to Represent Buyer Agency Agreement. This agreement will explain your agent’s services and responsibilities as well as how you and your agent will work together. It will also further explain how the compensation works. This agreement acknowledges that your agent is your advocate throughout the home buying process. Stay tuned for our upcoming article where we delve in to the nuances of the Buyer Agreement.
Your Buyer Agent will take the time to understand what you are looking for and where you want to be. They will be able to recommend lenders, home inspectors, contractors, and more to help you smoothly navigate through your home buying transaction. They will keep you up to date on the newest homes that hit the market, make appointments, and show you homes that match your criteria. Once you find that perfect home, they will help you craft a competitive offer and walk you through each step from contract to close.
Thinking of taking that first step in the home buying process? Give us a call at 703-898-5507.
And remember, with us, advice is always free. Reach us at [email protected]