Buyer Agents: Working for You Free of Charge
Home buyers should always have their own agent. Buyer agents work to negotiate the best terms and price for the buyer. Best of all, the buyer agent’s services are free to the buyer. Most people think they have to pay a sales commission. The truth is this: only the seller pays the commission. Whether a buyer uses an agent or not, the seller still pays the commission. Most buyer agents will have their clients sign an agency agreement, an Exclusive Buyer Agency Agreement. It outlines their services, how they are compensated, and how the two parties will work together. Remember, you wouldn’t hire your spouse’s attorney to represent you in your divorce. The same goes for real estate. Why use the seller’s agent to negotiate your best interest? There is an inherent conflict of interest. The home buying process is stressful enough without worrying about who you can and cannot trust. Your buyer’s agent is your trusted advocate.