What is Buyer’s Agent Role in Real Estate Transaction?
Buying a house can be scary and complicated process. As for most people buying a house is largest financial transaction in your life. Most buyers ultimately have one question: Whom can they trust? Will real estate agents act in your best interest? From a consumer’s perspective, an agent is someone represent you in a real estate transaction. However, depending on whether you are seller or buyer side, your agent will have different role and responsibility.
What is buyer’s agent?
A buyer’s agent is a real estate agent or broker who represents the buyers and only the buyer. Buyer’s agent has fiduciary responsibility and interests towards his/her buyer clients. Buyer’s agents will search, evaluate, and negotiate the purchase of property on behalf of home buyer, guiding and assisting them through every step of the home buying process.
Educating clients about the home buying process
The most important role for buyer’s agent is educating client about the home buying process. A good buyer’s agent will take time to understand his/her client’s real estate goals and help achieve the goals. Buyer’s agent will also communicate with his/her client by keeping them up to date at every stage of the sales process.
Helps you understand current market conditions
Each and every real estate market is different. Real estate markets can differ from town to town and even neighborhood to neighborhood. A good buyer agent will help his/her client to understand the current market conditions. A buyers agent who understands the local real estate market can go a long way when the time comes to make an offer on a house.
Handling negotiation
The buyer’s agent will advise clients on an appropriate price to offer and present it to the seller’s agent. Then they will negotiate on their client behalf and write up the contracts. This is where the agent’s experience in negotiating deals can save you money and help you avoid any pitfalls.
Finding the right property
After determining the clients real estate goals and what they can afford, the agent will schedule appointments to tour homes that fit the price range. The agent can also explain the ins and outs of various properties and neighborhoods to help buyers decide which home is right for them by explaining the pros and cons of various options.
Recommending other professionals
A buyer’s agent should also be able to refer their client to reliable mortgage brokers, home inspectors, movers and others profession. This can also help expedite each step of the process and move you to a successful sale all the faster.
How much do buyer’s agents cost?
Buyer’s agent are getting paid by home sellers. Home buyers don’t need to worry about the expense of hiring a buyer’s agent.
Swee Ng, Realtor and Phoenix East Valley resident specializing in win-win real estate transaction through great communication and fighting for his clients’ best interest. After all, this is more than real estates, this is about your life and your dreams.
If you are looking to buy or sell your home in Phoenix AZ area, we hope you will consider us. Contact us today for complimentary consultation.
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