The following is a reprinted article from Today's Buyer's Rep Magazine, A publication of the Real Estate Buyer's Agent Council, Inc.
You’ve been searching for homes online, driving by interesting properties in your car, and found one that looks perfect. What do you do next? Contact the agent featured on the yard sign and the online listing? While that may sound like the most logical step, it’s a common home buying mistake based on several myths and misunderstandings:
Assumption: It’s best to contact the listing agent because they’re already familiar with the property.
Sure, the agent on the yard sign knows the property, but that’s because they’ve been hired by the owners to help sell it. That’s what listing agents do. Their job is to represent sellers in property transactions, marketing properties to potential buyers and helping sellers earn as much as possible on the sale.
Does that sound like an agent who will be looking out for YOUR best interests?
Buyers will be better served if they avoid the listing agent (anything you tell them may hurt your negotiating position) and select a buyer’s agent to arrange a showing—someone who will represent your interests in a transaction.
Assumption: I’ll save money on commissions if I work with the seller’s agent.
Not true. Commissions paid to the buyer’s and seller’s agents are predetermined and written into the listing agreement; in most cases, if the listing agent brings a buyer to the table (because the buyer contacted them directly) that brokerage will earn both sides of the commission. That means buyers don’t necessarily save anything by going directly to the listing agent. More importantly, when a buyer approaches the listing agent, they’ve potentially lost a vital opportunity to receive loyalty, conﬁdentiality and other ﬁduciary duties that buyer’s agents owe their clients.
Assumption: All real estate agents are basically the same, so I might as well contact this one.
Again, not true. As in all professions, some real estate agents deliver a higher standard of service than others. One way to make sure you’re working with a professional who’s already received special training in representing buyers is to ﬁnd an agent who’s earned their Accredited Buyer’s Representative (ABR®) designation—an ofﬁcial designation certiﬁed by the National Association of REALTORS®.
Need to find an agent who will really represent you in your home purchase? Contact us. We'll help you find a great agent in your area.
The best agents will have advanced designations in buyer representation fields, such as the Accredited Buyer Representative (ABR), Certfied Exclusive Buyer's Agent (CEBA) or Certified Negotiation Expert (CNE) designations.
*Exclusive Buyer's Agents (EBAs) work for Buyers ONLY and are looking out for their best interests: To help them get the best home at the best price and terms for the BUYER ... not the best price and terms for the seller.
- Do you have excellent credit?
- Do you plan to purchase a home priced at $300,000 or more within 60 days?
- Do you have a good down payment, or are you paying cash for your next home?
- Do you want an agent on YOUR side throughout your transaction?
- Do you simply have questions about how things work?
Don't work with just any agent. Get YOUR OWN agent!
Call us at (801) 969-8989 or contact us today via the link on this page for a free consultation. Include the area you are interested in and give us up to 24 hours to research agents, and we will connect you with the buyer agents in the area that we would interview if we were relocating there.
©2014 Homebuyer Representation, Inc. - "The Real Estate Agents on the Buyer's Side" TM All Rights Reserved
Salt Lake City, UT - Exclusive Buyer's Agents (EBAs)
For more information, or for information on finding the best buyer's agents nationwide, visit GetYourOwnAgent.com