Working with a Buyer's Agent
A Trusted Partner in Your Home Search
One of the first steps for buying a home is to find a good Real Estate Agent | REALTOR® – someone who understands your needs, understands the current market and has the expertise and know-how necessary to guide you towards the purchase of your home.
Your Buyer's Agent will:
- Help you determine how much home you can afford and explain financing options and the pre-approval process
- Assist in your home search and schedule property tours
- Research and provide objective data about each property – including information you might not realize is available
- Provide negotiating expertise, and help resolve any issues that arise with the seller
- Help you understand any homeowner association documents
- Coordinate appraisals and other issues your lender may require
- Help you determine what inspections are necessary
- Explain earnest money deposits, escrow accounts, and closing costs
- Go on a final walk-through to make sure everything is in order
- Work with you and the seller’s agent to reach a smooth and problem-free closing
Working with an Agency | REALTOR®
Once you begin working with a Real Estate Agent, it is important to understand the principles involved in the real estate industry, the role of a REALTOR® as well as some basic awareness of how agents do their jobs.
Buyer’s Representative (or Buyer’s Agent)
A Buyer's Agent is a real estate licensee who is hired by prospective buyers to represent them in a real estate transaction. The Buyer’s Agent works in the buyer’s best interest throughout the transaction and owes fiduciary duties to the buyer. The buyer can pay the licensee directly through a negotiated fee or indirectly if the seller or seller’s representative offers compensation to the broker equivalent to that negotiated fee.
Seller’s Representative (or Listing Agent)
A Seller’s Agent is hired by and represents the seller. All fiduciary duties are owed to the seller. The agency relationship is created by a listing contract.
A real estate agent’s job is to help guide you through the complexities of buying or selling a property. But not everyone with a real estate license is a REALTOR®. A REALTOR® is not just a real estate licensee, but is also a member of the National Association of REALTORS® (NAR).
What’s the difference? REALTORS® must meet stricter education requirements than the law requires, and they’re bound not only by that law, but by the higher standard of the REALTOR® Code of Ethics.
Your REALTOR® is committed to protecting your interests throughout the entire transaction with the integrity, honor, professionalism, and expertise that meets the high standards set by the “REALTOR®” name.
And REALTORS® have access to more and more sophisticated tools to help sellers market their properties to the right audience, help buyers find just the right home, and make the entire process run smoothly.