Real Estate Buyers Agents FAQ
Real Estate Frequently Asked Questions
What is a Buyers Agent and how do they help a buyer find a home?
A buyers agent is a licensed real estate agent who searches out, locates and negotiates the purchase of property by a prospective buyer in the purchase of real estate. Keeping in mind a couple things about buyers / sellers agents.
- A Real Estate Listing or Sellers Agent represents the Seller and is obligated by law to get the best price and terms for the Seller.
- A Real Estate Buyers Agent works for the Buyer and must legally and ethically look out for the buyer's best interest.
- A buyers agent can not work with both the real estate buyer and realestate seller.
The commission paid to the Buyers Agent comes from the Seller under the terms of the real estate listing contract, with the sellers broker.
What is a Buyers Agent ?
A buyers agent is a licensed real estate agent who searches out, locates and negotiates the purchase of property by a prospective home buyer in the purchase of real estate.
Buyer Agents have a legal responsibility to the buyer only. Unless your real estate agent is representing you as a buyer agent, that agent is working for the seller.
Realtors can act in either of two roles. A Listing agent or Sellers Agent represents the Seller and is obligated by law to get the best price and terms for the Seller. A Buyers Agent works for the home Buyer and must legally and ethically look out for the buyer's best interest.
Some Real Estate Agents work with home buyers only. These real estate agents are also commonly known as Exclusive Buyers Agents. Others work with Buyers and Sellers, but generally not both at the same time. So, if you'd like to be represented by a Buyers Agent, just ask your Real Estate Agent if he or she will act in that role. Then, you'll know your Realtor has your needs in mind not the Sellers.
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