Buyers Agent – Why Do You Need One? What Are They?

Are you thinking of joining the ranks of owning your own home in Massachusetts or Rhode Island?  Are you getting lots of information from everyone and anyone?  Are you registered with a bunch of websites?  Are you trying to be your own real estate agent by calling each listing agent of a house you want to see?  Are you aware there is someone who will work for you?

When you are a first time home buyer, you don’t know what you don’t know.  Everyone seems to be giving you advise (even if they bought a house 10 years ago in a different state) and telling you where to start but the one thing no one seems to tell you is to get your own real estate agent.  One that works for you, one that you can tell everything to and get answers to all your questions.  That would be a buyers’ agent or buyers’ realtors.

After I have met with a first time home buyer and we’ve seen a few homes and I’ve new-home-3105179_640-1pointed out some of the good, the bad and the ugly and establish a trusting relationship with my buyers, one of the questions I often get is “how much does it cost me to have you as my agent?”    I love this question because it’s such a compliment.  It means that a buyer is willing to pay me to do my job.  A job that is free for a buyer!!! Yes, I said free!

Let me back up a bit and explain the buyer agent role.  When you choose a buyer agent, that real estate agent has a fiduciary duty to you and only you.  Anything that you tell that real estate agent is to be kept confidential.  One of the first forms you must sign is a Mandatory Agency Disclosure.  This form legally MUST be presented to you at the first personal meeting.  This is NOT A CONTRACT, this is simply an explanation of the role of a buyers’ agent.  As a potential home buyer, you have the right to have your own representation that is free to you, the home buyer.  A buyers’ agent gets compensation from the sellers’ real estate agent who, in turn, gets paid from the seller.  So this is a freebie to a buyer which is great for you!  When you have your own buyers’ agent, that real estate agent will set up the showings, show you the home, gather the disclosure information, perform a market analysis, point out potential issues, advise if home is worth it, write the offer, negotiate the offer, discuss potential re-sale problems, they will guide and advise you on the process, attend home inspection with you, negotiate home inspection issues, radon, provide names of service providers, be on call 7 days a week to answer your questions about the process, mortgage, closing, etc.  Many people have the misconception that real estate agents are glorified door openers and, although not rocket science, it definitely is a tricky maze riddled with lots of twists and turns pitfalls.   If you think working with the seller’s agent is a good idea, think again.  You will NOT save money and you will have no one to answer your questions or guide you through the process because there is no obligation to you as a buyer.  BAAAAAADDDDDD IDEA to work directly with the seller’s realtor!

When I say that anything you say to your buyers’ agent remains between the two of you, secret-2681508_640I mean that if you find a home you love for $300,000 but you start the offer at $275,000 but tell your real estate agent you would go full price, a buyers’ real estate agent can’t present the offer to the other side and say “but my people will go to $300,000” because they wouldn’t not be acting in your best interest.

The whole purpose of a buyers’ real estate agent was to protect the consumer and it IS taken seriously by Key to the Dream Realty Group.  We really do treat our clients as if it were a family member buying.

It is always amazing to me when I speak with buyers’ who call me on one of my listings and I ask if they have an agent and the answer is no.  I ask why, and they say because they don’t need one.  So I ask more questions about financing, motivation to move, etc. and they answer me!  Which is crazy, because in that scenario I am working for the seller and anything you tell me, I can pass along to the seller!  It is the equivalent of using your ex-spouse’s attorney in the divorce! Seriously!!! This is a free service to a buyer!  When I am at open houses, I am always amazed at what I am hearing buyers’ are telling the realtor at the open house – you know, the realtor that works for the seller!

I often hear from my buyers, after we have seen a few homes, or put offers on some properties, say “I thought this was going to be more fun or easier”.  Even looking at houses soon loses it’s fun because the process is frustrating.  Pictures online look amazing, then when you get to the house you are wondering if you are in the same house.  There are some disclosures that we can see but you can’t but if you don’t have your own agent, you won’t know about it and waste time seeing a house that you can’t or don’t want to buy.

So if you are thinking of buying a home in Central Massachusetts and Rhode Island, do yourself a favor and contact the Key To The Dream Realty Group at info@keytothedream.com or call 508 254 8093 and get the help and representation you deserve and need!  Start searching for homes now

Related Articles:
What is a buyers agent
Description of Agency Types

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To begin working with Lori and Chris, text or call 508 254 8093 (Lori) or 781 354 4381 (Chris) or complete the form below.  Or email us Key To The Dream

5 thoughts on “Buyers Agent – Why Do You Need One? What Are They?

  1. I thought it was interesting how you said that you should get your own real estate agent when buying a home. My wife and I want to move out of our apartment into a home. It would be great if we could find a professional or a website that can help us find the perfect home.

    • Hi dean. Thanks for reading. Yes, everyone buying a home should have their own advocate in the form of a realtor. What state are you in? I can find someone for you along with a website that will help you search.

  2. I like that you explain how a buyer agent keeps your information confidential. When choosing one, it would probably be a good idea to research local professionals and then meet with them. This could help you check their reputation and learn more about their services in order to find an agent you can trust that is able to help you find homes for sale that fit the requirements you’re looking for.

    • Thank you Erika! It does always surprise me that buyers don’t spend more time checking the credentials and experience of the agents they choose but it’s because of the misconception that our job isn’t a profession. Thank you for reading and commenting!

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