Want To Know What A Buyer's Agent Is?
A real estate buyer’s agent represents the consumer who is purchasing a property in the transaction. This agent owes full responsibility and loyalty to the home buyer. He or she has solely the buyer’s best interests in mind throughout the entire transaction process. The agent is compensated at the close of escrow, and the fee is paid from the seller's proceeds, which have been paid to the seller, via the buyer's loan.
There are many benefits to using a buyer’s agent. These agents will:
- Take some time to carefully evaluate the specific needs and wants of a home buyer and locate properties that fit those specifications.
- Assist the buyer in viewing properties and either accompany the client on the showings or preview the properties on behalf of the client to insure that the identified specifications are met.
- Research the selected properties to identify any problems or issues to help the consumer in making an informed decision prior to making an appropriate offer on the property.
- Present the offer to the seller’s agent on behalf of the client.
- Negotiate on behalf of the buyer to help obtain the property at the best possible price.
- Review and explain all legal documents to their clients.
- Recommend and assist in securing adequate financing.
- Provide a list of potential qualified vendors such as movers, attorneys, home inspectors, etc.
- Most importantly, when working with a buyer’s agent, the home buyer will know and trust that they are fully represented throughout the entire transaction process.
Choose your agent wisely. Working with a full-time professional real estate agent is a must. Ask questions of your agent. Find out how knowledgeable he or she is about houses currently for sale in your price range and also of houses that have recently sold. Can your agent recommend a good lender that has the reputation of excellent customer service and low rates? Does your agent ask questions of you to have a full understanding of what you are looking for to help you get the most home for the money?
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