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1 year, 8 months ago via realestate-qna.com

What is a buyers agent? What do they do and who pays for them?

What exactly is a buyers agent? What services do they ofer?
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mrcal | 1 year, 8 months ago
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A buyer’s agent is focused on matching the needs and wants of a buyer (location, price, style, number of rooms, etc.) and match them with the available properties on the market. Most buyer’s agents will suggest different properties that the potential buyer might want based on different information that they have. In some cases, they will sometimes even go so far as to preview potential listings for the buyer as a means of screening out properties.

A buyer’s agent will also provide the buyer with some understanding of the comparable properties and sales in the market to help the buyer understand the right price for the property. From there, the buyer’s agent will represent the buyer in negotiations and until the closing.

Buyer’s agents will also provide assistance to the buyer if they need an inspector, lawyer, or other services where they may be able to network the buyer with other services.
The fees of the Buyer’s agent are typically paid by the seller who covers the commissions of both agents.
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brendonbarnett | 1 year, 8 months ago
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The buyer's agent or "Real Estate Agent" provides the following services:

* Introducing the buyer to lenders and obtaining loan preapproval letters
* E-mailing listings that fit the buyer's requirements
* Calling listing agents to determine availability
* Making appointments with sellers before showing homes
* Driving the buyer from one neighborhood to the next, sometimes touring up to 10 homes a day.

This is not to be confused with a "listing agent" who works for the seller, not the buyer.

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annelisle | 1 year, 8 months ago
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A buyer's agent is a licensed professional that specializes in searching, evaluating and negotiating on behalf of an individual who is planning to buy a property. He is the one who deals with the seller when purchasing a property. A buyer's agent works exclusively for the buyer and does not sell real estate.

If you are going to request a service of a buyer's agent, you will be shown homes that are For Sale By Owner. A buyer's agency will provide you with a buyer's agent and this agency will be the one to pay for them in lieu of the services he rendered to you.
A buyer's agent charges clients for an hourly fee or a flat fee service. The type of agreement you sign with a buyer's agent will be the basis on how the arrangement works. There are however, some limited agency agreement that is stipulated specifically for what the agent will be paid. The buyer can pay commission or not to the said agent but usually if the buyer is more than satisfied with his work he can opt to pay him a commission.
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