What’s a “Buyer’s Agent”?

In the complicated world of modern real estate there is still the age-old custom of commissions being paid by sellers of property. If someone wants to sell real estate, they contact an agent and hire an agent to market the property. The seller is then represented by a listing agent, whose loyalty must belong to that seller. Where does that leave the buyer?

Actually, it leaves the buyer in a pretty good position. At no cost,  buyers can hire their own agent to do their shopping for them, help negotiate a deal, help find financing, and represent them in all other aspects of the real estate transaction.

Some of the advantages of hooking up with a buyer’s agent are:

• Navigate the dozens of websites that advertise virtually identical properties
• Be a buyer’s “eyes and ears” when it comes to weeding out unsuitable properties
• Give advice and opinions openly, without regard to how it effects the seller
• Negotiate a better deal than if a buyer went to the listing agent directly
• See to it that the closing goes smoothly and the deal is done as negotiated. Believe it or not, stuff gets changed right before closing

As you can see, you’re better off to form a relationship with one agent whom you trust. Contacting a property’s listing agent is often the unwise choice. And one important point to drive home is that nine times out of ten, the commission is paid by the seller, not the buyer.