Be It Ever So Humble . . . There's No Place Like a Home!
Dallas/Fort Worth Metroplex, Texas, You’re best "home" ever. There
is a right home that perfect for you…and it's your REALTORS® job to
find it. As you no doubt already know the real estate buying process
is becoming increasingly complex, with rapid changes and varying
markets. Real Estate professionals offer an objective viewpoint.
Moreover, we are only as good as our reputations, and a good
reputation can result only from a history of ethical business
practices. One major trend that has continued to gain strength
within our industry is the use of Buyer's Brokers. More and more
buyers are finding this type of representation to be an enormous
advantage in finding their dream home.
What is a Buyers Agent?
A real estate buyer's agent represents the consumer who is
purchasing the property in the real estate transaction. This agent
owes full fiduciary responsibilities, duties and loyalty to the real
estate buyer. The buyer's agent works for the buyer client and has
the clients best interests in mind through out the entire real
estate transaction process.
It is important for the consumer to discuss the buyer agent's
compensation in the initial interview. In many cases it is
recommended that the consumer and buyer agent agree to the terms of
compensation prior to viewing real estate properties and sign a
written agreement based on these terms. This agreement should spell
out the responsibilities of both parties throughout the real estate
transaction. It is important to note that in some states,
legislation has been enacted to protect the buyer to the point that
absent a written agreement the agent represents the buyer throughout
the real estate transaction. Consult your local REALTOR® for
complete details when you first start the search for purchasing any
real estate property.
Why Use a Buyers Agent?
The real estate buyer agent is responsible to protect their
clients' best interests. Research by the NATIONAL ASSOCIATION OF
REALTORS® has shown that when a buyer agent is used, the prospective
buyer found their home one week faster and examined three more
properties than those consumers who did not use a buyers agent.
The Benefits of Using a Buyers Rep?
Using a Buyers Representative offers the consumer many benefits.
Evaluate the specific needs and wants of the buyer and locate
that fit those specifications.
Assist in viewing properties and either accompany the client on the
showings or preview the properties on behalf of the client to insure
that the identified specifications are met.
Research the selected properties to identify any problems or issues
to help the consumer in making an informed decision prior to making
an appropriate offer on the property.
Advise the client on structuring an appropriate offer to purchase
the selected property.
Present the offer to the sellers agent and seller on the clients
Negotiate on behalf of the buyer client to help obtain the
identified property. Keep in mind that the buyer agent will be doing
so with their clients best interests in mind.
Recommendations and assistance in securing appropriate financing for
the selected property.
Provide a list of potential qualified vendors e.g. movers,
attorneys, carpenters if these services are needed by the consumer.
Most importantly, the buyer would know that they are fully
represented throughout the real estate transaction.
Questions And Answers
Can't I buy the house cheaper if I call the agent whose
name is on the sign?
NOT Always! The listing agent owes their loyalty to the seller and will be
looking out for the seller's best interest only so you will be on
your own. All they will do is write up the offer to purchase at the
amount you specify. Be very careful
of what you say! The listing agent, by law, must tell the seller if
you indicate you are willing to pay more than what you offered for
Remember - they work for the seller, not the buyer.
What About New Homes and New Subdivisions?
We can represent the Buyer with purchase of a new home in an
existing or new subdivision. Most builders will gladly pay a real
estate commission to a Realtor who brings a buyer for one of their
Many times you will find that there is a site salesperson at model
homes or subdivisions who represents the builder. Sometimes, there
might be a real estate office at the subdivision that handles a lot
of the builders in that subdivision. In all of these situations a
Buyer should have their own representation with an agent who is not
representing the builder, subdivision, or developer.
If you take a drive around the county and check out the new
construction, don't sign in or register at any of the houses or with
any of the sales people
if you're planning to use a Buyer Representative for your actual
Tell them that you are working with a Realtor and will return with
that Realtor if you are interested in that subdivision.
Doesn't it make sense to have an agent represent you?