WHAT ARE THE BENEFITS OF HIRING A BUYER'S AGENT?

When buying a home, you have a choice: your agent can work for the Seller or your agent can work for you. A buyer's agent is an agent who is engaged by a buyer to represent the buyer's best interests, not the seller's. A buyer's agent works exclusively on behalf of the buyer-client in any given real estate transaction. Only a buyer's agent can represent and work 100% for the interest of the buyer and yet most buyers refuse to sign a buyer's agent agreement.

Being represented by a buyer's agent won't cost you more in commission fees and it could actually save you time, money and aggravation. A buyer-client usually pays no more for the services of a buyer-agent than he/she would if using a traditional real estate agent. Typically a buyer's agent receives compensation from the seller's proceeds of the sale, the same way a seller's agent or broker's agent would.

The buyer's agent keeps the buyer's personal and financial information in strictest confidence. The buyer's agent negotiates the purchase of a home at a price and on terms acceptable to the buyer. The buyer's agent analyzes market data to determine an appropriate offering price. The buyer's agent makes you aware of negatives and positives of a property. The buyer's agent prepares the sales documents with the buyer's best interests in mind. The buyer's agent shows you all properties - multiple listings, exclusive listings with any Realtor, and For Sale By Owner.

If you are not represented by a buyer's agent, that agent who is taking you around to see properties is working as the seller's agent. You are required by NYS law to sign a Disclosure Form to make you aware that your agent is or is not working for you. A seller's agent must treat you (as the buyer) fairly and can't misrepresent any material facts about the property. A seller's agent must try to get the most money and the best terms for the seller. By law, the seller's agent must tell the seller everything he/she has been able to find out about you. Suppose you want to make an offer of $475,000 but you are willing to go up to $500,000, a seller's agent is bound by law to disclose this information to the seller. A seller could gain the competitive edge in situations like this.

A buyer's agent has the following fiduciary duties to the buyer: remarkable care, undivided loyalty, confidentiality, full disclosure, obedience and duty to account. The obligations of a buyer's agent are also subject to any specific provisions set forth in an agreement between the agent and the buyer. You should be represented by a buyer's agent who will pledge total, undivided loyalty to you.

Copyright © 2011. By Rosalinda Morgan, "The Rose Lady". All rights reserved. *WHAT ARE THE BENEFITS OF HIRING A BUYER'S AGENT?*

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If you are interested in selling or buying a home in Brookville, Muttontown, Oyster Bay, East Norwich, Oyster Bay Cove, Syosset, Laurel Hollow, Bayville, Centre Island and Mill Neck, please call for more real estate information -

Rosalinda Morgan, "The Rose Lady", Brookville NY Real Estate Professional

Licensed Associate Broker

Address: 6336 Northern Blvd., East Norwich, NY, 11732

Pick up the phone and call today!

Cell Phone: (516) 385-0584

Email Me - rosalinda@rosalindamorgan.com

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