6 Reasons Why Buyers Need a Strong Agent on Their Team

April 29th, 2008 categories: Buying Your House, Talking Real Estate

Here a quick rundown of why today’s real estate buyers need a strong agent on their team.

Question: What is a Buyer’s Agent?

Answer: The law in Connecticut requires us to be your agent. This is a very good thing. As a Buyer’s Agent we work solely for you and have absolutely no legal or other responsibilities to the seller.* Our fiduciary responsibility is to you. When working with a Buyer Agent, you have the benefit of personal representation, independent counseling, loyalty, confidentiality, and trust.

*In a case where the property your agent is representing you to buy is also that agent’s listing, dual agency applies. Talk to us for more information.

Question: Will a Buyer’s Agent disclose more information to us?

Answer: Yes indeed. Because a Buyer Agent’s fiduciary responsibility is to you, he or she can be more forthcoming with any negative aspects about properties that you are investigating for purchase.

Question: Does a Buyer’s Agent make decisions for us?

Answer: No. As your personal ally, advocating your best interests, a Buyer Representative is obligated to provide you with maximum information about buying a home, each step of the way. That means disclosing specifics about location, property values, offering price, negotiations, counteroffers, contingencies, financing, and the entire closing process. Armed with such vital and detailed information, you’ll be thoroughly prepared to make decisions that are right for you and your family.

Question: Why is it important to choose the right Buyer’s Agent?

Answer: Since we work for you, we are required by law to look after your best interests. This means that we will work as hard to make certain that you buy the best home for the lowest price.

Question: Who pays the fees for a Buyer’s Agent?

Answer: The Buyer’s Agent is compensated by the sellers sales commission. The buyer is generally not responsible for any of these fees.

Question: What did you mean by “confidentiality”?

Answer: Since a Buyer Agent is legally obligated only to you, he maintains absolute privacy with regard to financial and personal information. This means that we keep private any facts about your situation that might signal to the seller your position in a price negotiation (things like why you might need to buy quickly).