The Importance of Working with a Buyer Agent when Purchasing a Home
Once upon a time, all real estate transactions were handled exclusively by the seller’s, or listing, agent. In more recent times, the emergence of the Buyer’s Agent has changed the climate of the real estate industry. It is important to understand that a listing agent represents only the seller in a real estate transaction. Legally, they have a fiduciary duty to protect the seller’s, and only the seller’s, interests.
As a homebuyer, it is only fair that you have someone working in your corner, protecting your interests every step of the way: enter the Buyer’s Agent.
The Benefits of Working with a Buyer Agent
All real estate agents, both Seller’s Agents and Buyer’s Agents, can arrange property showings, assist the buyer with financing and the extensive paperwork involved in a real estate transaction. However, if you forgo working with a Buyer Agent, and are working directly with listing agents, they legally cannot negotiate prices in the buyer’s favor, disclose history of the property or reasons for selling, and they are not required to keep the information the buyer shares with them confidential.
A Buyer’s Agent works for you, the Buyer. They are working to find properties that fit the Buyer’s needs, emailing listings daily, setting up property showings, and even attending open houses with their clients. The protect the Buyer’s interests at all times, structuring and negotiating offers in the Buyer’s favor, and advising the Buyer, even if their recommendation is not to buy.
The Buyer’s Broker Agreement – Should you Sign?
In some cases, a Buyer Agent will ask the Buyer to sign a Buyer’s Broker Agreement, often creating an exclusive relationship with one Buyer Agent and guaranteeing them some type of compensation, such as a commission or finder’s fee.
Other Buyer Agents, including those with Sold on Sunday, Inc., do not require buyers to sign a Buyer Broker Agreement. It is our belief that we work hard to represent the buyer’s best interests, and that this commitment to our clients will keep them in the relationship without a formal exclusivity agreement.
Finding a Buyer Agent
Often, the best way to find a Buyer Agent is through referrals from family and friends. Another popular method is using the Internet to search for an agent. No matter how you find potential Buyer Agents, make sure to interview the Agent and make sure you feel comfortable in the relationship, after all they will helping you to find your new home.
If you are looking to buy in the Greater Boston area, Sold on Sunday offers licensed and experienced Buyer Agents who will walk you through the Home Buying Process. In addition to showing you properties that meet your specifications, coaching you every step of the way, and providing you with valuable recommendations, Sold on Sunday Buyer Agents come with an added benefit of our Buyer Rebate Program.   Simply stated, once your home purchase closes, the buyer receives a cash rebate based on the purchase price of the property.
 Call us at 781.910.7155 or info@soldonsunday.com to get started today!
Tags: Boston real estate agents, home buying tips, MA Buyers Agent, MA real estate agents