Why Use a Buyer's Agent?
~ A good Buyer's Agent can save you thousands of dollars! ~
Buyer Brokerage (a.k.a. Buyer Agency or Buyer Representation) is very important for you, the buyer, to understand. Did you know that unless you have a signed "Exclusive Buyer Brokerage Agreement" with your agent, the agent represents the seller and not you? Even if you have been working with an agent for weeks on a consistent basis, if they do not represent you (by having the signed Buyer Brokerage) then it is not their duty to have your best interests in mind throughout the transaction. Simply put, that means that they could disclose things to the seller you may not want them to, such as your financial status, important personal information, or other confidential things you may have said to the agent. This gives the seller the upper hand in the transaction, and could ultimately lose you money.
The subdivision agent or listing agents are not working for you. Their job is to get the most money and best terms for their clients, the sellers! Hire a
buyer´s agent to represent you and your interests at no cost to you.
Even if you know and trust your agent, it is in your best interest to sign an Exclusive Buyer Brokerage Agreement. It is very important that your agent puts your interests above anything else in the transaction. It is also required in the state of Georgia (O.C.G.A § 10-6A et. seq.) to disclose in writing that your agent represents you throughout the transaction.
There are a few things that you should understand regarding your Buyer Brokerage Agreement. By signing the Buyer Brokerage, it requires you to be loyal to your agent, and that you will not work with any other agents throughout the period of your Buyer Brokerage. However, if you are displeased with your agent, a Buyer Brokerage can be terminated if in writing. The agent in turn will promise to keep personal info strictly confidential, negotiate contract terms with your best interests in mind, and of course assist you in the search for the perfect property.
I wanted to let you know how much I appreciate your hard work in finding the perfect house for me. Since we last spoke I've really made a lot of progress improving the house. You probably wouldn't recognize it anymore. I also wanted to compliment you on your knowledge of the area and the effort you made to find the right home in the right neighborhood to suite my needs. Your professionalism is greatly appreciated and I look forward to working with you again when I make my next home purchase.
Kevin King - Marietta, GA
The best part is that your buyer´s agent´s services are at no cost to you! At the time of listing their homes, sellers contractually agree to pay both the listing agent AND the buyer´s agent. In very, very rare circumstances (usually a For Sale By Owner), a seller may not choose to pay a commission to a buyer´s agent. On that house, AND THAT HOUSE ONLY, you would be responsible for paying the buyer´s agent´s commission. Your agent would know of this ahead of time, and let you know so you can decide if you still wanted to see it. You would ultimately have the choice on whether or not to view and/or purchase that house, should that situation arise. But, in today´s market, it is extremely uncommon for that to happen.
If you have questions regarding Exclusive Buyer Brokerage, please do not hesitate to contact me! I´d be happy to answer any questions you may have.
MY JOB AS YOUR BUYER'S AGENT
Evaluate your specific needs and wants and locate properties that fit those specifications.
Assist in viewing properties -- accompany you on the showings, or preview the properties on your behalf to insure that the identified specifications are met.
Research the selected properties to identify any problems or issues to help you make an informed decision prior to making an offer to purchase the property.
Advise you on structuring an appropriate offer to purchase the selected property. Present the offer to the seller's agent and the seller on your behalf.
Negotiate on your behalf to help obtain the identified property at the BEST PRICE possible -- keeping your best interests in mind.
Most importantly, fully-represent YOU throughout the real estate transaction.
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