I want to express to the buyers out there or those thinking about getting into the market to buy a home… find an agent to represent you! As a buyer you don’t pay the agent you select, the agent is paid by the seller of the home you buy. Normally the commission is split equally between both the listing agent and the buyer’s agent. So, the services are essentially free to the buyer.
Also, a buyer’s agent can usually access historical price data for home sales in the area, which means she can recommend a bidding strategy that targets comparable properties that sold for less, rather than the mid-range. A good buyer’s agents will know the market and coach you in the offer making process. They also know what the average list price/sold price ratio are for the neighborhoods you have interest in.
IS THE LISTING AGENT ON A PROPERTY THE SAME AS A BUYERS AGENT?
NO! Some house-hunters may think they are working with a buyer’s agent, when in reality; they’re actually dealing with a seller’s agent. Many buyers contact the agent who has listed the home or walk into an open house thinking the agent is working in their favor. Some seller’s agents may also discourage prospective buyers at the beginning of their search from seeking out a buyer’s agent. A seller’s agent is contractually obligated to help make the sale happen in the seller’s favor, often as close to the asking price as possible. Buyers’ agents can also suggest home inspectors and financing companies they’ve worked with before.
Contact me for a free copy of my home buying guide. To search available homes visit my website http://www.heatherupton.kwrealty.com. I would love to represent you when buying your next home.