If you’re trying to understand the home-buying process, it’s important to read all contracts carefully and use tools like our down payment calculator to get a sense of how much a new house might cost you. Buying a home is a big undertaking, and all aspects should be carefully considered before any decisions are made. They're able to show you houses that are for sale by the owner, and not just houses being marketed by real estate agents. Well, the answer is simple. Home buyers don't need to worry about the expense of hiring a buyer's agent. What exactly do they do? Understanding these 10 reasons should make it clear that you need representation when buying a house. A buyer’s agent may be a great asset to you if are a home buyer. The listing agent pays your buyers agent commission out of the commission they charge the seller. Compare the Top 3 Financial Advisors For You. In such cases, pay only for the services you need. Tips for Working With a Buyer’s Agent. The buyer's agent plays an important role in a real estate transaction, but many buyers are looking to reduce costs. * The listing agent is the Seller’s Agent, AKA, the agent selling a property. Haley Sutter is a REALTOR® in Amarillo, … It doesn't always cost more to hire a buyer's agent. Don't be a guinea pig. Because really, who loves doing paperwork? Buyer’s agents’ services include: Finding listings and touring houses with you. FSBO – When a seller is offering his home “for sale by owner” the seller will not typically pay for the Realtor’s commission if the buyer wants to use an agent. The 6% could be split in a 3.5% / 2.5% – 3.5% going toward the buyers agent. Find out now: How much house can I afford? Your buyer's agent would be able to negotiate prices for you, make sure that the property is inspected before you buy it and ensure that you have any representation you need. Below are the top 10 reasons to hire a buyers agent when buying a house. Before you begin working with your agent, there will likely be a contract you’ll have to sign that outlines what you can expect from your business relationship. They ponder whether there is going to be any value. A buyer’s agent specialises in researching, evaluating and negotiating a property purchase on behalf of an interested buyer. Bank of America® Travel Rewards Visa® Credit Card Review, Capital One® Quicksilver® Cash Rewards Credit Card Review, 3 Must-Do Moves For Buying a Home This Spring, a matching tool like SmartAsset’s SmartAdvisor, 7 Mistakes Everyone Makes When Hiring a Financial Advisor, 20 Questions to Tell If You're Ready to Retire, The Worst Way to Withdraw From Your Retirement Accounts. I firmly believe when the agent is representing both sides or only the seller, the buyers best interest is not being served. First, realize the seller will eat those two apples and will not give them to you. Lots of consumers wonder why they should have a buyer's agent when purchasing a home. This post hopes to answer some of those, but also to help debunk some myths about using a buyer’s agent. Since a buyers agent is looking out for a buyers best interest, they’ll help ensure the buyer gets the best deal possible. 2. Agents that declare “dual agency” work for both the buyer and seller. This confusion can also make some first-time home buyers overly suspicious. Hiring a Buyer's Agent is Beneficial! But for your first home? But if you don’t have any or very little experience buying a house, why wouldn’t you use a buyer’s agent? The Bottom Line: You Probably Want a Buyer’s Agent. Hiring a Buyer's Agent to Buy a Home . Ask for a copy of the listing agent’s CMA, or comparative market analysis, that they used to come up with the price. Whether you are looking to buy or sell a property, you may be wondering if you really need a real estate agent. 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