ome buyers balk at working In that case make sure you know
with a buyer's agent how you are being represented.
because they are concerned Unless you agree up front that
it will cost them money. This is the agent will be working on
understandable since it is behalf of you and the seller as a
customary to sign an agreement dual agent the agent will only be
with the buyer's agent defining working for the seller.
their compensation as a
percentage of the sale price. Another reason a buyer goes
straight to the listing agent is
Rather than see this as a cost, to theoretically reduce the
see it as a protection for both amount of commission and the
parties – the buyer's agent has ultimate sales price. However,
agreed to work for you and to the listing agreement defines the
represent your interests to the commissions to be paid to both
best of their ability. You in the listing agent and the agent
turn agree to be sure he or she bringing the buyer to the table.
is fairly compensated for their Even if the buyer doesn't have an
work. In almost all cases, their agent, the commission will be
commission will be paid by the paid -- to the listing agent.
seller. What a buyer fails to realize is
there still needs to be someone
There is a common misconception there to do the duties of a
that one can “avoid the buyer's agent -- duties such as
middleman” by going directly to showing the house, writing the
the listing agent. Some buyers contract, handling pre-closing
will do this to avoid adding issues and paperwork, attending
another agent to the transaction the home inspection, final
because they want to deal walkthrough etc. This is agreed
directly with the listing agent. upon at the time of listing, so
the buyer not having an agent to buyers. A buyer's agent has
does not reduce the commissions the outside perspective needed to
paid. Any price reduction has to help you determine an offer
come off of the actual price as strategy and to protect your
negotiated between buyer and interests, potentially saving you
seller. time and money. Plus, the sellers
often will still pay the buyer's
Also, the buyer should be aware agent commission – it's all part
that while the listing agent may of the negotiation process.
provide assistance in preparing
the paperwork for the offer, Here's the bottom line: a buyer's
unless a dual agency agreement is agent represents you in a real
signed, the listing agent's estate transaction. Their
accountability is only to the experience and skill at
seller. In a transaction of this negotiating and in understanding
magnitude, you want someone the state laws and local customs
working for you, with your best can save you time and money. As
interests as their priority. your representative, your buyer's
agent can navigate the entire
Having a buyer's agent is even process from home searching to
more important in a For Sale By preparing the offer to the
Owner situation. An attorney can inspection to renegotiations to
draw up the paperwork, but is not the final walk-through. If you
knowledgeable about the value of are seriously looking for a home,
the property and valuation working exclusively with a
questions or advice , resale buyer's agent increases the
issues, issues that can arise likelihood that you will find the
from a home inspection, final home you are looking for. Their
walkthrough issues, and how to knowledge of the entire process
structure an agreement favorable is invaluable in ensuring the
sale goes as smoothly as Copyright © Shawn Buryska.
possible.
About the Author:
Rochester, MN Real Estate agent Shawn Buryska specializes in home real estate, buying a new home, selling your old home, or helping you search Southeastern Minnesota MLS Listings.
Read more articles by:
Shawn Buryska
Article Source: www.iSnare.com 
