How Can A Buyer's Agent Benefit You?
What is a Buyer's Agent?
According to most Multiple Listing Services (MLS), any real estate agent assisting a buyer usually works under the seller's agent as a subagent....and owes primary allegiance to the seller rather than to the buyer.
Unless you and your real estate agent are working under a "buyer agency" contract, the selling agent is:
Obligated to obtain the highest price for the seller and interested only in serving the best interests of the seller, not the buyer.
A buyer agency contract creates legal fiduciary responsibilities between the buyer and the agent. These responsibilities are:
- Loyalty to the buyer's interests.
- Obedience to the buyer's wishes.
- Disclosure of useful information.
- Confidentiality in all matters.
- Reasonable care and diligence.
- Accounting on all matters.
The Benefits of Buyer's Agency
- As a Buyer's Agent I will negotiate with the seller or the seller's agent for the lowest price and best terms to save you money.
- I am Not limited to showing and negotiating on just MLS properties ~ but even unlisted properties which increases the selection from which to choose.
- I will Offer complete confidentiality ~ so that no details of your personal motives or financial intentions are known to the seller: providing greater bargaining power to you.
- I will advise and counsel you ~ so you have the benefit of "inside information," not otherwise available to you, to help you make smarter decisions.
- I will prepare a competitive market analysis ~ to insure that you know the true value of the property so that you will not pay too much.
Who Pays the Commission?
A Buyer Agent's commission basically comes from one of two sources:
- Out of the total commission being paid to the listing agent.
- Or as a reduction in the selling price, equivalent to the buyer agent's commission, thus enabling a direct payment from the buyer.
Other Questions and Answers
As your buyer's agent, let me help with these questions:
- Is the home in good condition?
- What is the true value of the property?
- What have comparable homes in the area sold for?
- Are there community hazards I might not be aware of?
Radon possibilities~ Soil problems ~ Environmental issues~ Future development - What if a property inspection uncovers a problem?
- Does this property look like a good future investment?
- What banks have the best rates and lowest closing costs?
Tom Chace- Broker/Owner
P O Box 139
Little Compton, RI 02837
Office: 401.592.0146
Fax: 401.592.0139
Cell: 401.965.3259
E-mail Tom