Your Key Advisor
You might not know this, but most real estate agents represent both sellers and buyers — just not on the same transaction. We’re used to seeing real estate agents putting up yard signs, hosting open houses and sending around postcards — all with the idea of selling a house they’ve just listed. So we don’t often think of hiring one to help us buy a home, but their experience and advice is essential.
How Can A Buyer Agent Help?
A good buyer agent will work on your behalf throughout the homebuying process. Your buyer agent will find and schedule tours of available homes and much more. For example, when it comes time to make an offer, your buyer agent will help you determine what your offer should be, prepare and present your offer, and negotiate price and terms on your behalf.
How Do You Find One?
Most people find their buyer agent through referrals from friends, family or co–workers. You can also contact your banks preferred real estate agent to help you get started. In many cases the lender or banks have a go-to agency for a particular region.
What to Look for in a Buyer Agent
You’re going to want to find a buyer agent you feel comfortable with. In terms of key credentials, look for a buyer agent who:
- Works full-time as a real estate agent.
- Works your desired neighborhoods.
- Understands the market for your desired price range and property type.
- Provides references from other buyers.
Just in case you’re curious, in most instances it won’t cost you a thing to hire a buyer agent. They get paid by splitting the sales commission with the listing agent — and the sales commission, of course, is paid by the seller. Buyer agents rarely charge additional fees, but it would be wise to ask about additional costs upfront.
Stick around for our next installment where we cover:
Mortgage Application Checklist