What do “Buyer’s Agents” do? They introduce the buyer to lenders and obtain preapproval letters, they familiarize themselves with the buyer’s priorities in a home, they call listing agents to determine availability, they e-mail listings to the buyer that might potentially suit the buyer’s requirements, they set up appointments with sellers for showings, they chauffeur the buyer all around town to look at homes.
Hiring a Buyer’s Agent: What You Need To Know
If the buyer does not do some or any of these above listed duties, you may have the right to fire your agent. Buyers’ agents work for the buyer. And when the buyer finds the right home, the buyer’s agent makes money. However, if the agent is not working for you in ways described above, the agent does not then deserve to profit.
Hiring a Buyer’s Agent – How to Find One
Probably the best way to find a buyer’s agent is to ask around. Ask your family, your friends, and your co-workers for referrals. If, however, you are relocating to a new area, you may not have this luxury. Then, you can find buyer’s agents by looking in the following places by looking online and by going to open houses.
Because you may be spending quite a bit of time with this agent, seek one whose personality fits you well. Picture yourself riding for half of a day in a car with that person. If you like the picture, you have probably found someone with which you can happily work.
Then, consider if you will exclusively work with that agent. It is commonplace for a buyer’s agent to ask that you sign an agreement with them; however, only do so if you are completely comfortable with that agent and make sure that you understand what you sign. If you are feeling a little uncertain about signing exclusively with a particular buyer’s agent, consider the following:
- Ask for a short-term agreement (They may ask for a ninety-day commitment, but you can agree to any timeframe that you wish—even only twenty-four hours!),
- Request a non-exclusive agreement which assures that your first agent benefits even if you do find another a home through another agent (This assures you freedom to entertain other agents without being disloyal to your first.),
- Be specific about the areas and terms that you want that agent to help you with (Then if you change your mind about area or type of property, the agreement no longer applies.),
- Request a guarantee (This just assures that as long as you are both satisfied, you will work together. If either party becomes dissatisfied with the relationship, the agreement can be broken.).
Hiring a Buyer’s Agent – Protect Yourself
Truly, if you are a first-time home buyer, employing an agent to advise you through the process can really be helpful. If you consider that most sellers have real estate agents representing them, it only makes sense that the buyer should also have some representation.
While real estate agents (seller’s agents) may do their job to the best of their ability, they are not obliged to honor or protect the buyer—only the seller. Thus, if you are a buyer, it may be best for you to have your own agent to look out for your best interests, also.
If you’re looking for a great buyer’s agent, check out Linda Wise. Linda services home buyers looking to purchase Merritt Island Florida real estate. She also helps with those looking to buy Titusvulle Florida real estate and Cape Canaveral Florida real estate.
