As a home buyer you have the right to representation. Listing brokers have a legal responsibility to protect the interests of their client, the sellers. They must treat all non-clients honestly, but they must promote the best interests of the seller before any others. As a home buyer, you should have the same level of service and protection from your own real estate professional.
Questions When Hiring A Buyer Agent
Consider your needs when determining whether to hire a buyer agent or not. For example:
- How available is your agent?
- Will they be able to show you houses and answer your calls most of the time?
- Do they work on a team that will be able to show you houses even when your primary agent cannot?
- Is real estate their full-time job?
- Do you prefer to search properties or have an agent filter through and select options for you?
- How technology driven do you need your agent to be?
- Do you want one with specific experiences?
- Are you considering a special type of home that may require additional experience?
- Do you work better with certain personalities?
Additionally, buyer agents are responsible for a variety of items that can positively shape your home buying experience including:
- Finding out your needs and wants
- Negotiating with the seller’s agent on your behalf
- Educating you on the current market
- Providing you with active listings
- Assisting with the overall home buying process
Buyer agents are a great help when it comes time to closing and negotiating deals with the seller and their agent.
If you’re wondering how agents are paid, the seller usually works with a listing agent to determine how much compensation to offer their listing agent and the eventual buyer’s agent. The seller takes this compensation into account when determining the list price of the home. Both agents are then compensated by the seller at closing. According to The Columbus Dispatch,
“In central Ohio, a 6 percent commission, divided between the buyer’s and seller’s agents, is common, although the fee can sometimes be negotiated.”
Going through these questions and thoughts will help you better analyze buyer agent’s available and select an agent that best suits your preferences.