There are many reasons to use a buyers agent to purchase property.
Never call the selling agent on the sign to look at a home. They are paid by the sellers to give them the best deal. Instead use a buyers agent to work and negotiate on your behalf to get you the best deal at no extra cost to you...
What's the difference between a Buyer's Agent and a Seller's Agent?
Traditionally, all agents involved in a real estate transaction legally represent the Seller (both the "Listing Agent" and the "Selling Agent.") When a Buyer's Agent is involved, the person buying the property is represented by the "Selling Agent," who is known as the "Buyer's Agent."
How does the agent get paid?
The agent gets paid with commissions that come from one of two places:
Out of the total commission being paid to the listing agency, or
As a reduction in the selling price equivalent to the Buyer's Agency commission, thus enabling a direct payment from the Buyer to the Buyer Agency. Typically, the Buyer's Agency Commission is paid from the proceeds of the closing.
What will it cost me?
No additional cost! In fact, a Buyer's Agent can save you money by being able to negotiate with the Seller and Selling Agent to work toward obtaining the lowest price and best terms for you, the Buyer. The buyers agent commission comes out of the listing agents commisson. It costs you 0....
What are the Benefits of Buyer's Agents?
Advise and counsel a Buyer with unrestricted assistance.
Prepare an estimate of value and future salability to insure the true value of the property.
Investigate any situation that might jeopardize the best interest of the Buyer.
Negotiate with the Listing Agent and Seller to obtain the lowest price.
Show all properties on the market, regardless of whether they are listed with Multiple Listing Service.
Help you search for homes that interest you on the MLS which the general public does not have access to.
Represent you at the closing after the purchase and help guide you through the closing documents.
The agent will accompany the inspector during the home inspection and will help point out problems that come up during the inspection to the listing agent to possibly get them fixed by the seller or lower the price.
The Competitive Edge
A Agent is able to show properties that are not listed in the Multiple Listing Service. This allows you to have a greater selection to choose from. If an inspection reveals a problem, a Buyer's Agent can make a crucial difference. He or she protects the Buyer's interests and helps negotiate a fair and equitable agreement for the property. Legally, a Buyer's Agent is obligated to provide complete confidentiality of the Buyer's personal motives and financial intentions. Without this confidential duty, a Seller might gain a competitive bargaining edge.