Since the commission for the sale of a house is almost always paid for by the seller's agent, buyers are able to get assistance and information from Real Estate Agents, usually at no cost to them. It is for this reason that the vast majority of home buyers employ the services of an Agent for their purchase. In addition, since most houses are listed by Real Estate Agencies, it gives them the maximum number of available properties to consider. The relationship between a home buyer and their Agent is a little like a marriage: it must be based on trust, mutual goals (to get you the house that best suits your needs!) and understanding. To a large degree, the home buyer entrusts the Agent to always keep their (the buyer's) interest first and foremost. It is important that you understand who the Agent with whom you are working represents.
Buyer Agency turns the tables. If a Buyer's Agency agreement is struck between you and the Agent, it is you, rather than the seller, who has the representation from the Agent with whom you are working. If you are represented by a Buyer's Agent, some of the potential benefits include:
- The Agent can develop a CMA (Comparable Market Analysis), revealing at what price similar properties in the area have been listed for and sold for.
- The Agent can reveal to you any information about the seller that the Agent has been able to ascertain. This may include reasons for selling, potential concessions, or other information that may be to your advantage.
- Information about property value trends that may influence your decision about a certain area can be relayed to you.
As mentioned, the relationship is one built on trust. You the buyer must remember to include your agent even if you find a house on your own. If you find a community that is just being built and go there without your agent, your agent will not be able to represent you. You must always visit homes and new communities with your agent. Otherwise, you will be left unrepresented.
This information can be found in it's original format at www.realestateabc.com
