Find a Buyer's Real Estate Agent
Is this your first time buying real estate? If so, it's wise to have the professional help of a real estate agent. And since you'll be the one purchasing the home, this agent will be your "buyer's agent." Perhaps a quick definition is in order...
Buyer's Agent (noun) - A licensed real estate agent or broker who represents only the buyer in a real estate transaction. This person is also commonly referred to as the purchasing agent.
Find a Buyer Agent
There are several services online that allow you to compare real estate agents, and then choose the one who best meets your needs. HomeGain is one of those services, and best of all it's free. You can get started using it below:
Definitions from Around the Web
If you still have questions about what a buyer agent does during the real estate process, you should find these definitions helpful:
"Because an EBA [Exclusive Buyer Agent] only represents buyers and does not have in-house or company listings, a seller is always unaware of the price buyers are willing to spend during the negotiation process, bringing the advantage back to the buyer and the buyer's wallet."
-Source: www.naeba.org/buying/why.htm
"If a Buyer's Agency agreement is struck between you and the Agent, it is you, rather than the seller, who has the representation from the Agent with whom you are working."
-Source: www.ourfamilyplace.com/homebuyer/buyeragent.html
"In 1983, a Federal Trade Commission study revealed that over 72% of all home buyers nationwide mistakenly believed they were being represented by the agent who was showing them homes ... When consumers became aware that most agents worked for the seller, they began demanding their own representation."
-Source: www.forbuyers.com
"An Exclusive Buyer's Agent acts solely on behalf of the Buyer. They work for an office that does not take listings so they never have anything to "sell" you but their specialized knowledge and expertise in assisting home buyers."
-Source: www.exclusivebuyersagents.com
"The buyer broker agreements spell out precisely who represents the buyer. It's also known as buyer representation. There are a huge variety of buyer broker agreements used throughout the United States."
-Source: About.com (worth a read)
"A real estate buyer's representative represents the buyer who is purchasing property in a real estate transaction ... The buyer's representative works for, and owes fiduciary responsibilities to, the real estate buyer and has buyer's best interests in mind throughout the entire real estate process."
-Source: www.rebac.net
"In many states, it's now common for an agent to represent the buyers exclusively in the transaction and be paid a commission by the sellers. More and more buyers are going a step further, hiring and paying for their own agent, referred to as buyers brokers."
-Source: www.frontdoor.com/news/article/248
"These agents are required by law to get the best price and best terms for the Homebuyer. All consumer advocates recommend that homebuyers take advantage of the benefits offered by exclusive buyer agents."
-Source: www.buyersresource.com/411.html
If you still have questions about using a buyer real estate agent / purchasing agent after reading this information, check out some of the great resources listed above. Good luck with your real estate experience.
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