A Buyers Agent - Free Buyer Representation
Why is a buyers agent so widely misunderstood? Buyer agency is relatively new. Until recent years, all real estate agents worked for the seller. When the agent showed a client property, he was doing so as a representative of the seller, not the buyer. Few buyers realized this. But why shouldn't the buyer also have exclusive representation? The Boards of Realtors finally agreed.
Now the buyer gets to make a choice. They can work with an agent who is really working for the seller. OR They can work with an agent who is working for them. Even better, the choice is FREE to the buyer. It is a great deal for the buyer. The seller is still the one who is paying the commission, but the buyers agent is committed to represent the buyer, not the seller. See the buyers agent.
Agency disclosure, as required by most states, requires the REALTOR® to explain to the client at the first 'substantive contact' who they represent in the transaction - the buyer or the seller. This is to ensure that the buyer understands right away who is or is not on their side of the transaction. That way confidential information doesn't get mishandled and conveyed to the wrong party.
An Exclusive Agent will owe an exclusive duty to you as the client.. You will be expected to work with the agent during the term of the agreement. Since your sales person will be investing their time to help you make the best purchase on the best terms, your loyalty will enable them to do a much better, more thorough, and most successful job for you.
Buyer agency is the best way of protecting your information while helping you to make the best transaction possible. The best thing is that it is FREE to you, the purchaser. Don't miss out on this newest opportunity.