Why do I need a buyer’s agent and What’s a Buyers Agent?
In real estate transactions there are typically two agents or realtors involved; the listing agent and the buyer’s agent. The listing agent works for the seller and markets and advertises the property for the seller. The listing agent helps price, stage, and conduct all necessary transaction requirements on the seller’s behalf.
A buyer’s agent works solely with a buyer. The do not have an agenda on selling any one particular home or property but simply has the buyer’s best interest at heart when it comes to need and price range.
A listing agent can also be a buyer’s agent, and this is called a dual agency. While it is almost impossible to have complete fiduciary duty on both sides of the party, the agent is typically prone to one side or the other; usually the seller.
This is why having a buyer’s agent is so important. A buyer’s agent works only with the buyer and doesn’t have any hidden agenda in on selling any one particular property for a specific seller. It cost the buyer nothing to use a dedicated buyer’s agent or representative since the agent will receive half of the split commission on whichever homes the buyer chooses. The seller is already decided on a commission for the agents that sell the property and if the listing agent also brings the buyer, the listing agent receives the full commission. (You can see why the listing agent would certainly want to also be the buyer’ agent) This is why it is so crucial to have a buyer’s agent specifically for the buyer.
I would love to help you purchase your first home or your tent home in the Florence Oregon area. Please contact me today on more information on how I can be your buyer representative.