What is a Buyer’s Agent

compassWhat is a buyer’s agent and why use one??

A buyer’s agent is a licensed real estate salesperson or broker working solely for you, the buyer.  The buyer’s agent’s duty and responsibility is to guide you through the buying process and ultimately to help you get the best deal possible on a particular property.

Most sellers of real estate employ the use of a listing agent to assist in marketing and negotiating the sale of the property.  By law, the listing agent for a property owes a duty and loyalty to his/her client, the seller, to get the best possible deal/price for the house.  While the listing agent must not make any misrepresentations to a potential buyer, the listing agent’s primary responsibility is to the seller.  A buyer’s agent, however, owes the buyer his/her undivided loyalty, reasonable care, disclosure, obedience to lawful instruction, confidentiality and accountability.  Both seller’s and buyer’s agents owe a duty to disclose known material defects in a particular piece of real estate.

Here is a brief list of some of the things a buyer’s agent can provide:

  1. Full access to the local MLS and perform searches using a wide range of variables to help focus your property search

  2. Research public documents and town information on a property

  3. Accompany you to property showings to serve as an experienced set of eyes assessing the pros and cons of a particular property

  4. Examine comparable sales to help determine the fair value of a property you are considering

  5. Provide experienced advice when making an offer and to guide the negotiating process

  6. Guiding you through the process from Offer to Closing