What are Buyer Agents and Buyer Agreements?

What are Buyer Agents and Buyer Agreements?

According to buyer agency agreements, the buyer’s agent must do the following things:

Protect their client’s financial information
Negotiate the best possible price for the buyer
Must disclose to the buyer if they are working with another buyer interested in the same property
Show all properties the buyer is interested in that fits their criteria and budget
Connect you with the service providers—inspectors, lenders, home warranty companies—to best suit your needs
The buyer also has some responsibilities to their buyer’s agent:

Buyers must work with their buyers agent exclusively
Buyers should never give personal information to any other agent
Buyers should not call other agents to see properties, even if they think they are saving their agent some time and effort
Buyers should clearly define their must haves and deal breakers to help their agent streamline the showing process
Home buyers are at a premium in today’s housing market. Buyers should interview agents just as seller’s interview listing agents.

Make sure the buyer’s agent you select is familiar the type of property you want to purchase, the area you want to purchase in and the particulars of your situation. An agent is only as effective as the information they are given. Clients relocating from one city to another require a different set of skills from a client moving within the same area, for example.

Buying real estate is a big decision. The best advice is to find a REALTOR® who will guide you through the local market conditions.

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