ABC's of Buying Florida Real Estate

 
 

 

 

Should I use a Buyer's Agent?

How do I find a Competent Buyers Agent Realtor

  First, let's define the roles a real estate agent can choose to play.  Realtors®, by law, can act in a number of roles. A real estate professional acting in the role of a Listing or Sellers Agent represents the Seller and is obligated by law to help the Seller get the best price and terms.

  A real estate agent acting in the role of a Buyers Agent works for the Buyer and must legally and ethically look out for the Buyer's best interest, not the Seller's. For those who have undertaken extra training, there is a special recognition known as being an Accredited Buyer Representative. These Realtors who specialize in serving home "buyers" frequently display the designation "ABR" after their name.

  Some Realtors act as Sellers Agents or Buyers Agents exclusively. Other Realtors have the knowledge and experience to provide service to both Buyers or Sellers, but with few exceptions, on any given transaction, they can act only in one of the roles. Either they represent the Seller or they represent the Buyer, not both at the same time.

  In some states, real estate agents can act in a special role called various things but most commonly, as a Transaction Broker". When acting in this role, the Realtor must declare to you that he or she is acting in that role and is, in fact, representing neither the Buyer or the Seller but simply acting as a "facilitator of a transaction." In general, you, as a buyer, are best served by a Realtor acting specifically as your Buyers Agent.

  All the many details involved in home buying, particularly the financial ones, can be overwhelming, even mind-boggling. A professional Buyers Agent can guide you through the entire process and make the experience much easier, less frustration and more enjoyable. And buying a home should be just that -- an enjoyable experience. A Buyer's Agent can advise you on many important considerations about a neighborhood you may be considering...the schools, the number of children in the area, traffic volumes, and much more. He or she can also help you determine the price range of home you can afford and search the Multiple Listing Service for homes that might fit your needs and desires.

  With immediate access to homes as soon as they’'re put on the market, your Buyers Agent Realtor can save you hours of time wasted driving-around looking just at the outside of homes. He or she can screen homes that have come onto the market to assure that they are reasonably priced and in good condition before taking you to see those homes in your price range that offer the amenities and features you're looking for.

  When it’s time to make an offer on a home, your Buyer's Agent can point out ways to structure the deal to save you money. He or she will explain the advantages and disadvantages of different types of mortgages, guide you through all the paperwork, look out for your interests during property inspections, and answer any last-minute questions as you prepare to sign the final closing papers.

  And, in most instances, you don’t pay your Buyer's Agent anything for all these services.  His payment for all the work he or she does for you comes from the Seller of the home under the terms of the listing contract between the Seller and Listing Broker, - not from you, the Buyer.

  Remember this. If you see a home you might like in a newspaper, real estate book or on the Internet, and you contact the Realtor named in that ad, you're calling the Seller's Listing Agent, who is duty-bound to look out for the Seller, not a Buyers Agent who would look out for your interests. If you want someone looking out for your interests, not the Sellers, you want the services of a Realtor acting as your "Buyers Agent"

  So, how do you find a Buyers Agent ? It's easy. If you'd like to be represented by a Buyers Agent, just ask your Realtor if he or she will act in that role for you. Then, you'll know your Realtor is "looking out for your interests and your interests only."

  So, why use a Buyers Agent ? With a Buyers Agent Realtor®," your interests and desires are represented and protected and, in most cases, at no cost to you. A better question might be, "Why not use a Buyers Agent since it costs you nothing."




 

 
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