Independent Surveys about a Buyers Broker or a Buyers Agent instead of the sales agent

Since the mid-1980’s there have been a number of Independent Surveys completed by Money Magazine, Consumer Reports, and consumer groups like the Consumer Federation of America comparing the advantages and benefits of using the services of real estate Buyers Broker or Buyer’s Agent vs. the Traditional real estate sales agent.

In general terms the consensus has been consumers can save more time and money with a Buyers Broker or Agent working as their real estate advocate compared to going it alone or perhaps relying on the Traditional Listing Agent who  represents the best interests of the seller. By law, the listing agent represents works for the Seller and they are obligated to get the seller the best possible price and terms, no matter what they may tell you.

On the other side, with a Buyers Agency Agreement you can be properly represented as a home buyer, and the tips below may help you to further understand the advantages using a REALTOR who is also an Accredited Buyer Representative or a Certified or Exclusive Buyer’s Agent.

  • In today’s very challenging real estate market you need all the help you can get, and an experienced Realtors working as your advocate can save you time and money from start to finish in the real estate buying process.

  • Seeking out a Buyer’s Broker as your advocate that is Accredited, Certified, and/or Exclusive, can be beneficial, as they are typically better trained and better prepared to help you get a better deal no matter what the market conditions may be.

  • Ask any agent if they are willing to Sign an Exclusive Buyer Agency Agreement to offer you 100% Loyalty and thereby protect you from "Dual Agency" which can be a conflict of interests on the part of the agent. Hint: The more listings a company has the bigger the chance they cannot provide you with 100% Loyalty and proper representation.

  • Ask any Real Estate Agent if you can spend a day or two getting to know each other, as well as the possible purchase choices on the market before signing the Exclusive Buyer Agency Agreement. If the Agent is helpful, knowledgeable, and likable, you may want commit to them so they can commit to you, and help you negotiate the best possible deal on the property that is best for you and your family.

  • Don’t believe any agent that says their services are free. Normally you are paying your real estate agent indirectly through the price you pay for the home you choose. It is the mortgage money from the buyer’s side that funds the transaction, and it is the seller’s equity that is debited for both the Buyer’s Agent and the Seller’s Agent fees at closing.

  • If you think you can get a better deal without a Buyer Representative, you are probably wrong. There is a slight chance you maybe able to negotiate the 2-1/2% to 3% agent commission from the seller if you are not using an agent, but consider:

    • The Listing Agent or the Seller is typically entitled to any commission offered in the MLS system if you choose not to have your own Representation..

    • You may be able to negotiate the typical 2-1/2% to 3% MLS fee as a discount, but a good Buyer’s Broker can easily save you double or triple that amount or more.

    • A true Buyer’s Agent doesn’t base the offer price just on the average price per square foot of any recent sales. That is not an accurate estimate for properties in today’s very challenging market, and it can be a big mistake if that is what you think you should go by when negotiating.

    • You probably don’t not know the actually value, the potential for loss of value, or how much money you might leave on the table during negotiations until it is too late without a Buyers Agent at your side.

 

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