Following are a list of FAQ’s to help guide you in deciding whether to enter into a Buyer’s Agent agreement:
Do homebuyers need the help of a Buyer Representative?
You bet! Because when buyers work with a real estate professional who is 100% loyal and completely committed to them, chances are that the entire home buying process will go smoothly, with more buyer satisfaction.
Ok. Exactly what is a Buyer Representative?
A Buyer Representative works solely for you and has no legal or other responsibilities to the seller. When working with a Buyer Representative, you have the advantage of personal representation, independent counseling, loyalty, confidentiality, and trust. On the other hand, while helping you present an offer, negotiate, and close a transaction, a general real estate agent has certain fiduciary responsibilities to the seller and agent of any property you choose.
Can a Buyer Representative show us the same properties?
Yes, a Buyer Representative can show you every home listed in the Realtor’s Multiple Listing Service, PLUS Real Estate Owned (REO) and For Sale By Owner (FSBO) properties. Additionally, a Buyer Representative can show you brand new and unlisted homes.
Will a Buyer Representative disclose more information to us?
Yes, indeed. Because a Buyer Representative’s fiduciary responsibility is to YOU, he or she can be more forthcoming with any negative aspects about properties that you’re investigating for purchase.
Does a Buyer Representative make decisions for us?
No. As your personal ally, advocating your best interests, a Buyer Representative is obligated to provide you with maximum information about buying a home, each step of the way. That means disclosing specifics about location, property values, offering price, negotiations, counter offers, contingencies, financing, and the entire closing process. Armed with such vital and detailed information, you’ll be thoroughly prepared to make decisions that are right for you and your family.
What about negotiating the details?
First, a Buyer Representative is fully qualified and highly skilled in the back and forth negotiations and financing queries that precede the closing of most real estate transactions. Second, a Buyer Representative is also experienced and committed to helping protect your best interests in the purchase. In representing and supporting you, that’s a powerful combination!
What did you mean by “confidentiality?”
Since a Buyer Representative is legally obligated to only you, he or she can help you maintain absolute privacy with regard to financial and personal information. That’s another important benefit of working closely with a qualified Buyer Representative.