Buyer's Agent: A Trusted Guide & Free Resource
Updated: Mar 23, 2019
House hunting? It’s a jungle out there.
From competing buyers and multiple offers, to paperwork and deadlines, to inspections and negotiations, home buying can be a stressful and complex process. For this reason it is advantageous to have a trusted advisor that is a full-time professional at your side, especially if you’re a first-time homebuyer. And the best part? It's free for buyers.
You may be familiar with different kinds of real estate agents—buyer’s agents, listing agents, seller’s agents, etc. As a buyer, you’ll need a buyer’s agent to assist you through each stage of the process, which will save you a massive amount of time, money, and energy.
What does a buyer’s agent do?
They provide these essential services:
Assessing your needs
Finding the right property
Advocating for you
Negotiating the offer
Offering an objective professional point of view
Providing a buffer
Recommending other professionals
Helping overcome setbacks
Expediting the process
Handling the details
Another advantage – Confidentiality.
A buyer’s agent legally represents you as opposed to the seller. Say you’re at an open house chatting with the seller’s agent. You’re gushing about how much you love the house and how quickly you need to move because you’re expecting a baby, your apartment lease is expiring, or you’re transferring for work. This could undermine your ability to negotiate if the seller’s agent shares this information with the owner. A buyer’s agent is in your corner and may be aware of these needs but keeps these details private from the seller to preserve your bargaining power.
Working with a buyer’s agent.
Home buyers don't need be concerned about the cost of hiring a buyer's agent because the seller pays for the service. The home seller pays a commission that is divided between the listing agent and the buyer’s agent.
Usually, the commission is a percentage of the home's sale price, which is divided between the buyer's agent and seller's agent, and then split again between the agents and their brokerages.
Have questions? Ready to look for a house? Get in touch.