Why Use a Buyer's Agent?
Many home buyers walk into an open house and write up an offer with whatever agent happens to be present. They may not realize that not every agent has their best interests at heart.
Buying a home, especially for the first time, can be an exciting venture. Some people become nervous or anxious while others jump right in with both feet. However, there are some things that all types of buyers need to remember.
HAVE A BUYER'S AGENT.
You may be thinking this is just another way to get your money, but this is where you may be misguided. When buyers use a buyer's agent, it costs them nothing! That's right, NOTHING. You don't pay them out of the financing, at closing, or during the transaction at all. Buyers' agents get paid from the seller of the property.
So then you might think that a buyer's agent is only interested in selling a particular home? This is not necessarily the case either. The buyer's agent wants your business now AND IN THE FUTURE. A lot of agents and brokers receive most of their clients through repeat business and referrals. If they do a great job for you as a buyer's agent, your testimonial can mean more business for them down the line. Therefore, they really want what is best for you, the buyer.
Having a buyer's agent from the start alleviates all the pressure and hassle you may otherwise receive from a listing agent. A listing agent is only interested in selling a particular property and if they sell that property directly to you, they receive all the commission. If a buyer's agent brings in the buyer, the commission is split between the two agents. The seller still pays for the selling of the property to the agent or agents that sell the home.
By confirming to a listing agent that you have a buyer's agent already, they won't pressure you into buying a particular home and will usually let you tour the home without hassle.
Buyers' agents will help you through the entire process and make sure you find the right home for your needs. A good agent will translate all the confusing legal jargon of contracts and make sure your rights are protected. The buyer's agent gets paid only when you find the right home. And since it costs you nothing, there is really no reason not to have a buyer's agent working on your side.