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What does a Buyer Agent actually do for the homebuyer?
Like any other agent, the buyer agent will show you a property, point out all the strong features of the home, and submit an offer if the homebuyer so desires.
Above all that your buyer agent can tell you some of the following key points when buying a home (To the best of the buyer agents knowledge):

  • How long has the property been on the market
  • Has there been any offers or counter offers
  • Not only what the strengths of the property is, but also what some of the weaknesses are
  • Why the seller has decided to sell and what their timetable is for a closing
  • Most importantly you can ask you buyer agent for assistance and advice in the amount that you should offer for the property and the additional terms that you might want added into the offer

Can a seller’s agent do the same work for me as a buyer’s agent?
The sellers agent can still take you to any property, tell you all the positive features of the home, and write up the offer, but that is all.
A seller’s agent is working for the seller and they cannot give any information that is not in the best interest to the seller. By law the sellers agent or subagent must negotiate for what is in the best interest of the seller, and they must also disclose any information that can be used as a bargaining tool.

When does my buyer’s agent become a dual agent?
Your buyer’s agent may become a disclosed dual agent when they are showing you a property that they have listed or one that is listed within their office.

  • At that time they cannot fairly represent the seller or the buyers best interest.
  • The agency relationship must then be changed in written form from buyer agency to dual representation. This gives both the sellers and the buyers the knowledge of what is occurring.

The bottom line that one needs to ask yourselves is, do I want someone that is going to be watching out for my best interest in both the purchase price and terms for the agreement? If your answer is yes than you should talk to a Buyer’s agent today!