Real Estate Agents Max Broock Realtors
www.austinb2.com
313.550.2307 O'Connor Realty
www.oconnordetroit.com
313.963.9891 What is a Buyer’s Agent? A Buyer’s Agent is a licensed Realtor who works exclusively on behalf of individuals who are seeking to find a home to purchase. By law, a Buyer’s Agent has a fiduciary obligation to a Buyer he/she represents. Fiduciary responsibilities include: What are the services that a Buyer’s Agent provides? A Buyer’s Agent provides services that address the entire process associated with the purchase of homes. Buyer Agent services include: - connecting the Buyer with an effective Mortgage Broker who understands the Buyer’s objectives and who can select the best loan program for the Buyer’s needs and circumstances
- learning the characteristics of a home which meet the requirements and desires of the Buyer (e.g., location, number of bedrooms and baths, types of homes the Buyer likes and dislikes, lot size and type, transportation access, etc.),
- providing the Buyer with listing information on properties that match the desired characteristics, visiting/inspecting potential properties
- suggesting purchase and negotiation strategies
- preparing the contract offer
- negotiating contract terms
- aiding Buyer in finding a home inspector, insurance coverage, settlement attorney
- generally assisting, informing and advising the Buyer regarding all aspects of a real estate transaction.
How does a Buyer’s Agent get paid?
A Buyer’s Agent agrees to accept whatever compensation is offered by the Seller. Generally, Sellers offer (through their Listing Agent) a commission of 2 to 3% of the total sale price as Buyer Agent compensation. This amount is generally split between the Buyer’s Agent and the Buyer’s Agent’s real estate company. If I'm buying a home that is being built or is brand new, can I have a Buyer's Agent? Yes, most definitely. And there is no additional cost to the buyer. Buying a new home without your own agent means that you will not have someone looking after your interests -- since the agent in the sales office works for the builder. A buyer's agent can help negotiate the sale price and construction enhancements. But, most importantly, your own agent can bring in an independent and experienced home inspector to assure that the home is built properly and in conformance with the promises that the builder has made.
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