What is a buyers agent? What do they do and who pays for them?
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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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M$* Introducing the buyer to lenders and obtaining loan preapproval letters
* E-mailing listings that fit the buyer's requirements
* Calling listing agents to determine availability
* Making appointments with sellers before showing homes
* Driving the buyer from one neighborhood to the next, sometimes touring up to 10 homes a day.
This is not to be confused with a "listing agent" who works for the seller, not the buyer.
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M$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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