Selecting a Buyer’s Agency

You want the perfect home that will suit your desire for the ideal location, quality, and most importantly budget. For most people, buying a home is the most expensive purchase they will make. You will want the home you select to have minimum problems. Making sure you get a home inspection before the closing can help ensure the quality of the home. Everyone desires a location that meets certain needs such as being in a good school district, near family or close to work. Price is the top consideration. Purchase a home that will allow you to have cash left over for other commitments and entertainment.

Finding the right home can take a lot of time, patience and perseverance. Unfortunately, most people do not have the time or even the inclination to go out and look for it themselves. This is why most people engage the services of a real estate agent. Even better, this would be a good time to seek the help of a buyer’s agent. A buyer’s agent offers a slightly different twist from a regular real estate agent. Rather than having the option to represent both a seller and a buyer in a real estate transaction, the buyer’s agent only represents the buyer.

Buyer’s agents will honor your requests and seek the types of properties you are looking for. They will work with you by referring you to the lenders and helping you obtain proper preapproval loan letters. Buyer’s agents are invaluable sources for doing all the legwork for you, including making appointments and taking you to see properties which are listed for sale.

Buyer’s agents work on commission but they still expect compensation if the buyer opts out of the buying arrangement. They will insist on a contractual agreement. The agreement spells out the expectations of both the agent and the buyer. If the agent fails to deliver within a specified timeframe the buyer is free to seek another agent or renew the contract.

Seeking a buyer’s agent can be as easy as getting a referral from others who have used the agent’s services or using the Internet to conduct your search. Narrow your search to three agents you feel have a grasp for the type of housing you desire. Ask each agent specific questions to guide you in your search for the representation you desire. Most importantly make sure you and the agent have a rapport and understand one another. This is important since you will be signing an agreement.

Although the best intentions can unravel there are safeguards you can ask the buyer’s agent to implement in the event things don’t work out. Your agent will negotiate the best terms for you when you are buying your home but before that can happen, for your own comfort and peace of mind, it is best for you to come to an initial agreement with the agent.

Negotiate the terms you are comfortable with. Most agent’s buyers will ask for a 90-day commitment from you but you can request shorter contracts. If you feel you might want to seek the services of another agent during your contract ask for a non-exclusive agreement. This will compensate the initial agent but free you to work with another agent. Before making a final contract decision you can request a house hunting date with the agent to get a feel for the agent’s work habits before signing anything.

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