Buyer's Agent

What is a Buyer's Agent and do I really need one?

  You may have heard the phrase "buyers agent" or "listing agent", maybe even "selling agent". As a home owner or buyer these terms may not mean very much to you. As an agent, we know these terms well and know who is who in a transaction. (if not, maybe you need to find an new agent!)

When a seller wants to sell their home, they enlist the help of a listing agent. This is the agent/broker that holds the listing of the property until the contract expires or the house sells. Each agent hangs his or her license under a broker that takes responsibility for that agent. Basically when the agent signs their name on a contract they are signing the broker/brokerage name as well as the holder of the listing. This is the listing agent and works for the seller in trying to sell the home. They faciliate everything on the seller's side.

If you are a buyer, it is highly encouraged that you enlist the help of a buyer's agent. This is the agent that works solely for the buyer and not the seller. The buyers agent will help you find the home you are looking for and faciliate all the documents and transactions from the buyers side. The buyers agent will negotiate with the listing agent on your behalf and work to make sure all your demands are met or work out a deal with the listing agent as they are working with the seller.

Using a buyer's agent is absolutely FREE for the buyer. Buyers pay an agent nothing to help them find and close a deal on a home. The buyers agent gets paid only if you find a house from the seller of whatever property you buy. The listing agent agrees to take a commission from the sale of a property and that commission is split between the listing agent and buyers agent.

   Sometime the listing agent may also find a buyer in which case this is referred to as a dual agent. The agent's first responsibilities is to the seller but can sometimes still facilitate the transaction ethically and honestly.  It is better though to use the help of a buyers agent specifically for the buyer so your best interest is taken into consideration and not just the agent and seller trying to sell the home.

  The buyer's agent is sometimes referred to as the selling agent also as this agent has initiated the sale of the home.

To find a buyers agent in your area contact our offices today. We can help you through every detail of the home buying process.

REAL ESTATE SOURCES: Our Ruidoso real estate agent also has a great article on buyers agent. Our Yuma AZ real estate agent also has excellent tips for buyers and sellers.