Buyers Agent




Buyers Agents – Top Rules To Remember When Working With Them

If you are a new homebuyer venturing into the real estate market to make an investment, using the services of buyers agents maybe a good bet. Buyers agents are professionals who help you make the right property choice and with all the negotiations and paperwork. But before you start looking for buyer agents, you must understand and remember some basic and important rules regarding these agents. So read on…

  1. All buyer agents work on commission basis – property agents aren’t salaried employees. They work on commission that needs to be paid once a transaction is closed. Buyer agents don’t work for free.
  2. Choosing buyer agents – you can either close a real estate deal yourself or you can hire a buyer agent. If you decide to work with an agent, choose on the one you’re comfortable with and one who has experience and a good reputation.
  3. Don’t involve a listing agent if you have already hired a buyers agent – since a listing agent works for the seller, it’s best to hire a buyers agent instead of a listing agent. Most listing agents don’t undertake buyers agents’ jobs. They prefer the real estate buyer agent to do their job.
  4. Always sign an agreement – when hiring a buyers agent ensure that you sign a buyer's broker agreement. This helps you understand the duties of the agent as well as safeguard’s your interests as a buyer. There are two types of buyer’s broker agreements - Exclusive & Non-Exclusive. Ask your agent for the difference before signing on the paper. Only ask buyer agents to show properties to you when you are ready to sign the agreement. Another important thing to check before signing the contract is if your buyer agent will release you from the bindings of the contract in case you are dissatisfied with their work. If they refuse, simply look for another agent.
  5. Keep your appointment – yes, always be on time for appointments and be polite and courteous towards the buyers agents.

Happy house hunting!