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John King, San Antonio Real Estate

Schedule ALL of your showings with Just ONE Phone Call!

By John King, GRI, SFR, Broker | Managing Broker in San Antonio, TX

What EXACTLY is a Buyer's Agent?

I've heard the term "Buyer's Agent", what does that mean exactly?

Simply put, A Buyer's Agent is one that Represents The Buyers Best Interests.

If you are looking for homes, and are calling all of the different phone numbers on the listings ad's, or signs...you're talking to the "Listing Agent".  This agent represents the Seller's Best Interest.  And has a DUTY to do so.

There are many ways to make a seemingly "Standard Contract" sway one way or the other, to favor the Seller OR the Buyer.  Uunderstanding this, and knowing how to go about it correctly can cost you, OR save you literally Thousand Of Dollars!

As a Buyer's Agent, we are not "All The Same".  Many offer great service, and go out of their way to save you time and frustration, others may really just be a "Tour Guide".

What are some things a good Buyer's Agent "Should" be doing for you?
  • They should make sure you are pre-approved for financing upfront. 
    How are you going to feel if you find the Home of Your Dreams, then are told, "sorry, you can't have that one, we'll have to look at cheaper homes now."
  • They should ONLY be sending you listings that match YOUR criteria.
    There's nothing worse than wasting a beautiful Saturday looking at all the WRONG homes....
  • Previewing Homes before showing them to you, ESPECIALLY if you are coming from out of the area.
    Wouldn't it be nice if you had somoeone that could take more photos of something missing on the website before you come to town?  That would be nice to save some time if you KNOW beforehand that it was just creative camera work....or it was really what you hoped it would be.
  • Arranging ALL of your showings with just one call.
    That's right.  You simply tell your agent the homes you would like to see...and then they make it happen.  You can see them all with one trip...not scurrying from one home to the next with a different agent to tell your situation too and answering the same questionos over and over again?
  • Protecting you from Paying Too Much!
    Once you find "The One", how do you know if it is priced right, over priced or even underpriced?  Your agent will.  Your agent SHOuLD have access to the MLS, and armed with that data, can you help you craft an offer that is reasonable for the market, and to your benefit! 
  • Contract Knowledge and Negotiation Skills.
    Your agent should know enough about the standard forms to craft them to favor you...such as who is paying for a new survey if your lender requires one (most do), who is paying for title insurance, will the seller pay your closing costs (how much are those even?)...and so the list goes.  You get the idea by now...

Okay, so having your own agent sounds great, right?  But how do they get paid?  Someone said they are "Free".

Well, I would call it "Included".  But that is correct, you don't actually write them a check, the listing agent covers it from their brokerage fee which they collect for listing and selling the home.

Hope this helps!

John King
Broker-Owner
Bluefax Realty, LLC

Direct (210)445-2631
john@bluefaxrealty.com
http://bluefaxrealty.com

Comments

By Mitch Larrivee,  Mon Apr 11 2011, 11:20
All info is great! I agree 100%

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