Why Have a Buyer's Agent When Purchasing a House?
Buying a house is one of the biggest investment you will probably make in your entire life. It's not simply about finding the right home for you and your family; more than anything, buying a house is about making the right financial investment on a long-term basis.
Reasons to hire a buyer's agent when purchasing your next house:
You get the services of a professional real estate agent at no cost to you. This person’s fiduciary duty is to you, not the seller even though their fee is paid by the seller.
Why Not Just Work With the Listing Agent
Think you will get a better deal if you use the listing agent? Thinking that if you use the listing agent, they will give you some of their commission. Well that might be true, yet it is the seller that hired the agent, therefore, who do you believe their first responsibility is to, you or the seller?
Look at it this way. A listing agent’s job is to get the best offer, most money for their seller. A selling agent’s job is to get the best deal at the lowest price for their buyer. Can one person really do that? Sure it’s possible, yet there is a fine line for all involved. It’s like a plaintiff and a defendant using the same lawyer?
Staying in Contract
Your agent will explain to you all the terms of the contract so that you have a full understanding of the process and make sure you follow through with any necessary responses required under the terms of the contract. You don’t want to put the transaction at risk by missing essential dates for removal of contingencies.
Bottom line, you don’t want to lose your earnest money because you are out of contract.
Your agent is the one to handle the negotiations and they will do so in your best interests and on your terms and conditions.
Serious buyers enter into a buyer/broker agreement. You want someone 100% in your corner. That is perhaps the best way to look at the relationship.
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