Kevin Sime Real Estate
Working for you, the buyer.
Why Getting a Buyer’s Agent is Important for All Home Buyers
The home buying process can be difficult, especially for first time home buyers. With all of the complicated real estate jargon, buyers and even sellers can feel out of touch with what’s going on or what they should do next. One thing a lot of buyers are unaware of is who the agents in a real estate transaction actually represent, and the important benefit of having someone on their side who knows the real estate game and someone who is representing THEIR best interests. That someone is known as a Buyer’s Agent.
What’s the difference between a Listing Agent and a Buyer’s Agent?
Although listing and selling agents both legally represent the seller, a selling agent can represent a buyer in the home buying process, making them a “Buyer’s Agent”.
A listing agent typically works with a seller to help them list their property on the market and is the contact person for potential buyers interested in the property.
A selling agent will work with buyers during the home buying process to show them properties and communicate with listing agents about said properties on the buyer’s behalf, but legally they are still working for the seller. A Buyer’s Agent works solely for the buyer and ensures that the buyer’s best interests are represented.
How does a Buyer’s Agent get paid?
A buyer’s agent gets paid with commissions, either from the total commission paid to the listing agent during a sale or as a direct payment from the buyer to the buyer’s agency which is equivalent to a reduction in the overall selling price of the property.
Most people are unaware that enlisting a buyer’s agent to help with your property search costs nothing extra and might, in fact, save you money as they can negotiate with a listing agent for you.
What are the benefits of working with a Buyer’s Agent?
It is smart to work with a Buyer’s Agent if you are the buyer. The listing agent has a responsibility to sell the property quickly at the highest available price. A Buyer’s Agent will negotiate for the best deal for YOU, the buyer.