WHAT IS A BUYER'S AGENT?

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Most people have no idea what Buyer’s Agents are, especially if they’ve never bought a house before.  Very understandable.  I mean, why would you know?  It’s not like they teach these things in school.  I’m going to try to explain a little bit about them here by talking about their advantages, because usually you don’t want to get involved with something you know nothing about.  People don’t like that.  To start, Buyer’s Agents are real estate agents that help you purchase a home.  Now let's look at some advantages of using them as opposed to just... figuring it out.

 

Advantages:

They are on your team.

Ok so imagine you’re looking for a home.  Usually, you get on Zillow, find a cool house, figure out who the agent on there is, and then try to contact them because that's the only thing you know to do.  That person would be a “Selling Agent.”  That means they’re on the team of the person selling that house (not on your team).  Then you do that with all the houses you’re interested in and meet a bunch of different agents who try to sell you their home and you feel overwhelmed from meeting all these people that you most likely don’t like to deal with.

Buyer’s Agents are different.  They’re on your team from the start, and do everything in your best interest.  It’s your own personal real estate agent that figures out what sort of house you’re looking for, your budget, your area, and then helps you find that awesome home for the best terms.  They help you with the real estate process, market knowledge, negotiations, paperwork, etc. so you can focus on all the big decisions and picking your favorite house.

 

They are almost always free to use.

Buyer’s Agents are paid through commission, which means they only get paid when a house is bought.  More specifically, they’re paid through the Selling Agent’s commission.  When a house is bought/sold, the Selling Agent gets a percentage of the Seller’s proceeds as commission, and the Buyer’s Agent gets part of that.  That might have been confusing, but the point is, it’s almost always completely free to use.  Also, I bolded proceeds above because the commission doesn’t change the price of the house.  The house is priced and then the Selling Agent and the Seller agree on a total commission before they even market the home, so not having an agent doesn’t give you a discount.

 

You can be comfortable with one person.

As opposed to meeting 12 Selling Agents who are trying to sell the home that they were hired to sell, you have one Buyer’s Agent who is helping you along the way with whichever home you want to buy.  You can go look at any house on the market with that one Buyers' Agent so it doesn't limit you.  While touring a home, you have the freedom to say what you like or dislike about it without the pressure of the other agent trying to convince you to buy something you hate.  You can be comfortable that you’re going to see the same person at every house and that they know your situation.

 

They do all the legwork for you.

Buyer’s Agency could be described as someone who does all the real estate hard work:  paperwork, setting appointments, knowing the contract inside and out, working with attorneys, talking to other people, etc.  You just make the decisions.  That’s the beauty of it.  Example:  you pick which Inspectors you want to use on the house, we contact them, book them all for the same date and time, and then we go to the inspections… that was easy.

 

Disadvantages:

Umm.....can't think of anything.

 

 

If you have any questions about buying a home or how any part of the process works, please feel free to ask me!  I'd love to help in any way I can.  You can head on over to the "connect" button in the top right to get my info.

 

 

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Brad Ledford