If you are in the market to purchase a house, the question you may ask yourself is why you need a buyer’s agent? The question you should really be asking is why you shouldn’t have a buyer’s agent. You as the buyer get free labor! You don’t pay them a dime! So, why wouldn’t you want someone on your side negotiating and working for you? The seller is the one who pays the commission for your Realtor.
Purchasing a home can be the largest investment you’ll make in your life, so you need someone on your side to help you out. A Realtor can set up all of your appointments and negotiate the best price for you. The only person that wins when you don’t have someone representing you is the listing agent. You don’t want the listing agent negotiating the price between the two sides. The listing agent has their client’s best interest at heart. You need a buyer’s agent to be on your side. Your Realtor will usually have you sign an Exclusive Buyer Agency Agreement. It tells you about their services and how they are compensated. It lets you know that they are working for you and have your best interest in mind.
There are many things that a buyer’s agent can assist you with. They can help you find listings. They may be more knowledgeable about a neighborhood then you are and they may know of some For Sale by Owners that are available. Your agent can serve as a buffer between you and the sellers and their agent when it comes to negotiating the price and asking for inclusions. They have access to what has recently sold in the area and can help guide you with a fair offer. They can also help in recommending a mortgage broker and home inspectors for you. The paperwork for a home sale can be daunting. An agent will be right there by your side to help you through it all.
How do you choose a buyer’s agent? Ask family and friends for referrals. Find a licensed Realtor that speaks to you. You may want to look for a Realtor that has similar interests. You may want to interview a Realtor to make sure they are right for you. Ask them how often you should expect to hear from them or how long they have been a licensed Realtor. Make sure that they are listening to you.