Just what is a Buyers’ Agent? Let’s start with a definition. It’s one that represents only the buyer(s), rather than (by default) representing the sellers, either directly or indirectly, in a transaction.
What should you look for in a Buyers’ Agent? You want to be sure that the agent is one you feel comfortable with. Does the agent seem to understand what you are looking for in your new home? Can the agent relate your lifestyle to your home and make an appropriate match? e
How much does experience matter? As with most things, it depends. An experienced agent not only knows the local market, but is also intimately familiar with how business is done in the local market. A newer agent will bring enthusiasm and a fresh outlook to your situation. Especially if the newer agent is working with an experienced mentor, that can be a real benefit to you. The real estate industry is changing and your agent needs to be able to adapt to those changes in order to best serve you.
What’s the difference between a Buyers’ Agent and a Sellers’ Agent? In short, it’s focus. Often, a Sellers’ (Listing) Agent focuses primarily on marketing. After all, the goal is to sell the listing quickly for the best possible price. On the other hand, a Buyers’ Agent focuses on providing you with service that is appropriate to your transaction.
What can a Buyers’ agent do for you? A good Buyers’ Agent will serve many functions beginning with education. It’s important that you understand the process by which real estate transactions progress, which party is responsible for what, what rights you have under a purchase agreement and how to exercise your rights. A real estate transaction should be transparent. The right agent can dispel the mystery surrounding all the documents involved.
How do you choose a Buyers’ Agent? Start by interviewing several agents to find a match that works for you. Purchasing a home is one of the most important financial decisions of your life, make sure you are working with someone who respects the level of financial commitment you are making and will help you through the entire process. Ask questions, lots of them. Here are some possible interview questions:
- Are you a REALTOR®?
- How do you choose properties for me?
- Do you preview properties before taking me to view them?
- How can I reach you and how long should I expect it to take for you to return calls?
- Do you work under contract with me?
- What happens after I find a home I like?
- What else do I need to know about the home-buying process?
Think about interviewing your prospective agent just as you would any other professional. Your chances of a satisfactory transaction are increased when you make sure that the agent you choose is also a REALTOR®. Choosing a REALTOR® assures you that your agent will abide by the National Association of REALTORS® Code of Ethics.
As always, thanks for reading! If you found this information useful, please share on Facebook, Twitter, etc. If you have unanswered questions, feel free to call me at 661.375.7325 or email me.
Great points, thanks for sharing. A listing agent is working for and representing the best interests of their client – the sellers. Buying a home is generally one of the largest financial decisions a person will ever make. Put a “buyer’s agent” to work and have the benefit of an experienced professional on your side. Your buyer’s agent is your advocate, your advisor, your negotiator, and your confidante throughout the buying process.
Thanks for writing, Dan. California is one of the states that allows dual agency, but that can be such a sticky road. I tell clients (both buyers and sellers) that the best you can hope for is a “fair” deal. A fair deal may or may not be your best deal.
Feel free to stop by anytime!