What is a Buyers Representative?
A buyer’s representative is a realtor who acts in the best interests of the buyer. A buyer’s representative will provide advice and information to help buyers make an informed decision about the “right” price. A buyer’s representative will insure that the many terms of a sales contract are to the buyer’s advantage and will assist in negotiating the buyer’s best deal.
What is a Real Estate Buyer’s Representative? A real estate buyer’s representative represents the consumer who is purchasing property in a real estate transaction. The buyer’s representative works for, and owes fiduciary responsibilities to, the real estate buyer. The buyer’s representative has the real estate buyer’s best interests in mind throughout the process. The buyer’s representative is compensated by the buyer through a negotiated fee. In some states the commission is split between the buyer’s and seller’s representatives based on the selling price of the real estate property. It is important for the consumer to discuss the buyer’s representative’s compensation in the initial interview. In many cases it is recommended that the consumer and the buyer’s representative agree to the terms of compensation prior to viewing properties and sign a written agreement based on those terms. The agreement should spell out the responsibilities of both parties throughout the process. It is imp
Defined most simply, a buyer’s representative (or buyer’s agent) is an advocate for the buyer in a real estate transaction. Buyer’s representatives owe full fiduciary (legal) duties, including loyalty and confidentiality, to their buyer-clients and keep their best interests in mind through the entire transaction. Why Should I Use A Buyer’s Representative? The two most important reasons to use a buyer’s representative are protection and efficiency. Most likely, the seller of whatever property you buy will be represented by a listing agent who can provide expertise throughout the transaction. Don’t you want the same kind of service as a buyer? A buyer’s representative can provide you with the expertise you need through the entire transaction. According to NAR (National Association of Realtors), buyers who work with a buyer’s representative also find their homes quicker, while viewing more properties in their search, than buyer’s who do not engage a buyer’s representative. Choose a REALTO
