Wednesday, November 18, 2009
If you haven’t been involved in a real estate transaction over the past 3 or 4 years, you may not know about buyer representation. In the past, a listing agent represented only the seller, and the buyer had no representation. Nowadays, buyers can have their own real estate consultant to protect their interests in the purchase of real property. The advantage is that the buyer has by his side a knowledgeable professional, who understands the business, to search for properties that have all the desired characteristics, take care of paperwork, inspections, final walk-through, etc., and to keep the lender and title company on schedule (some tend to procrastinate). The buyer agent, unlike the listing agent, tries to create the best possible situation for the buyer. How much does the buyer have to pay for this service? Usually nothing. Sellers normally pay the commissions for both agents since they have the money when the transaction is completed, but other arrangements can be made. So if you’re going to buy a home or perhaps some land, find your very own REALTOR® who will have your best interest at heart and work for YOU.