Posted almost 14 years ago

Home Buyers Agent-Can I Save Money Without one

house with question mark Home Buyers Agent-Can I Save Money Without one?Unless you buying a home from a "For Sale by Owner" you will be using a Realtor or Real Estate Agent. The question is will you be using the Sellers agent (the persons name on the for sale sign representing the seller) or your own agent (someone representing your best interest).

Some buyers may think they can get a bettter deal negotiating directly with the sellers agent. Well, think again! Consider this, the Sellers Agent (guy or gal on the sign) has a fiduciary responsibility (to act in the best interest of his or her client) the seller. His or her job is to get the most $$$ for his client. With that in mind, he could never tell you that you are offering too much or should request his seller to fix this or that. If he did, he or she would be breaching his legal duty to the client (seller).

Onthe other hand, the Home Buyers Agent (AKA Buyers Agent, your agent as a buyer) has a Fiduciary responsibility by law to represent YOUR best interest. Not only that but a good buyer's agent knows the entire local inventory and the neighborhoods.

And here's a bonus for you Mr. Or Mrs. Buyer-YOU do NOT pay your agents commission. Which brings us to the next question: Who DOES pay the Realtors Commissions? The commission is paid through he sellers proceeds, not from your pocket! So it would be down right silly for you NOT to have someone on YOUR side and negotiating on your behalf, especially if you are not paying them out of pocket!

And Remember, your agent also does the searching and leg work for you. Yes, I know, you like doing the search yourself. Not a problem, your agent should immediately give you access to theirMLS(Multiple Listing Service). This is the only True and accurate inventory of all homes that are listed for sale. The first thing I do when I meet a new client is give them access to my Los Angeles MLS. Once you gain that access, you can drop Craigs List or any other search site outside of the MLS!

In truth, your agent will most likely be looking harder than you will for your home as they know how to navigate the available inventory and they will also know the details of your loan which may prohibit you from some properties. It is in YOUR agent's best interest to find you a home that YOU love and can afford.

So as you can see, there is no real benefit in buying a home without a Home Buyers Agent. As a matter of fact, your Home buyers Agent is your best chance at negotiating a better deal with terms that work for you. Now THAT will save your money, not to mention your time and sanity.

Happy Home Hunting!

Home Buyers Agent-Can I Save Money Without one

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