Real Estate 101: What’s a Buyer’s Agent and why should you have one?

Want to buy a house? Good news, I can help you. Let’s start with the basics. Are you working with a real estate professional already, and have you signed any documentation stating so? No? Okay good. Let me go to work.

Buying a home is arguable one of the most stressful purchases you make in your lifetime, and because of that it’s best if you have someone who knows what they are doing working for you every step of the way. A buyer’s agent is a home buyer’s best asset in the real estate world.

What is a buyer’s agent? A buyer’s agent is a real estate professional (agent, Realtor, Broker) who works exclusively for the party or parties looking to purchase a property or home. The buyer’s agent and home buyers agree to sign a contract stating that the real estate professional works exclusively for the buyer during a specified time frame, researching, answering questions, negotiating the terms of the purchase and getting the buyer to the closing table with keys to their home in hand.

The best part? It’s free to the buyers. That’s right. This is a partnership between the buyer’s agent and the buyers that holds no fiduciary bounds on behalf of the buyers. The parties selling their home pays out the buyer’s agent (who is essentially bringing a buyer to the property that is for sale).

Here’s a quick run through about why you should hire a buyer’s agent for your next real estate transaction:

  • It’s free. I mean think about it. Who wouldn’t want someone with professional experience working for them on the journey to finding one’s dream home? If you think about it, it’s a no-brainer.
  • It’s their job, they know what they are looking at. Buyer’s agents are likely to be in dozens of houses every week so they know what to look for. Buyer’s agents know what is just a poor paint job versus the potential for something more serious to pop up in a home inspection. Bottom line: they have the answers to your questions.
  • They know the market. Like above, it is the job of the buyer’s agent to know what is on the market, what is selling, what isn’t and be able to answer questions about price point, resale, what’s selling around the corner and what isn’t. These details: the bread and butter of buyer’s agency.
  • They know people. You need financing and a mortgage? I’ve got a guy for that. Ready to schedule that home inspection now that you’re under contract? I’ve got someone for that too. Buyer’s agents are in the weeds on a daily basis and know people, or at the very least they know people who know people. Again, they’ve got the answers.
  • The details of buying a home? That’s all the buyer’s agent. from agreeing to work together, to showings, to talking about an offer, to writing the contract (yes, they do that too), to negotiating the offer and going under contract. The buyer’s agent does all of this and more. Once a buyer finds a house they like, the buyer’s agent goes to work putting together every detail so that the process runs smoothly over the next 30-45 days.

There are many more reasons that hiring a buyer’s agent is a no-brainer when it comes to buying property; whether it be an investment property, your first home or a vacation home. Hiring a buyer’s agent is of no cost to the buyer and is the ultimate cushion in the real estate purchase process.

Ready to buy some property? I’m ready to help you every step of the way!