BUYER'S TIP

WHY EVERY HOME BUYER
SHOULD USE A BUYER'S AGENT

Why have I gone to the time and effort to become an "Accredited Buyer Representative?

Because buying a home is probably the most important purchase you'll ever make. Do you want to go it alone? Real estate agents can represent sellers, buyers, or both.

I want to represent you.

It used to be that all agents represented the SELLER - they were 'Seller's Agents.' Now buyers have a choice!

In fact, 71 % of home buyers surveyed in a recent Gallup poll said they would use a buyer's agent the next time they purchased. At last, you don't have to buy a home alone. Now you, like the seller, can have someone on your side looking after your best interests.

HOW CAN A BUYER'S AGENT HELP ME?

A buyer's agent LIKE ANY OTHER AGENT owes certain duties to the home buyer: care, confidentiality, full disclosure and accurate accounting. These responsibilities are defined by state laws, the REALTORS Code of Ethics, and the general principles of agency as defined by the courts.

In addition,all agents will show the buyer available homes, point out the property's features, provide financing information and submit the offer to purchase.

But that's not all the Buyer's Agent does. As your representative, a buyer's agent will share valuable and essential information with you if the agent knows it, such as: ' Whether the seller would accept a lower price;
' The seller's reason for selling and timetable;
' How long the home has been on the market;
' Previous offers and counteroffers for the property;
' Strengths and weaknesses of the property.

Most important for many buyers, you can ask a buyer's agent for advice and assistance in setting your offering price and structuring the other terms of your offer. What's more, you'll have peace of mind knowing you have an advocate working on your behalf to help you buy at the best possible price and terms. A buyer's agent goal is to counsel you and help you buy the home you want.

WHO NEEDS A BUYER'S AGENT?

If you want to make sure you buy smart, you need a buyer's agent. Whether this is your 3rd home or if you are a first-time buyer, if you're relocating or unfamiliar with the local real estate market, if you're buying for investment and want negotiating help, or if you need to purchase anonymously, you'll be best served by a buyer's agent who puts your interests first.

If you just want to get the best value in a property, you owe it to yourself to be the most knowledgeable buyer you can be.

WHAT CAN A SELLER'S AGENT DO TO HELP ME?

Without a buyer's agent, you're really on your own. Keep in mind, the seller's agent is actually working for the seller and is the seller's legal representative.

What a seller's agent cannot do is disclose information not in the best interest of the seller, such as their opinion of the home's real value or what price and terms the seller would accept.

By law, the seller's agent must negotiate on behalf of the seller and may not withhold from the seller information that could strengthen their bargaining position. That means you, as a buyer, should be careful not to disclose to the seller's agent any financial or personal information that could be used against you.

WHAT WILL A BUYER'S AGENT COST ME?

Perhaps the right question is, "What will it cost me if I don't use a buyer's agent?" Purchasing a home without representation is possibly the biggest financial mistake you can make.

A buyer's agent can guide you each step of the way to prevent costly errors. Failure to find out about defects in the property or the actual value of the property can, of course, be an expensive mistake. And failure to negotiate a contract that works for you can cost you plenty. With a buyer's agent, you can ask for and receive advice and assistance in selecting the best property and determining an offering price.

WHO PAYS THE BUYER'S AGENT'S FEE?

Generally, the seller pays the commission! That's the great part! You can have a buyer's agent represent you and the seller still pays the commission.

There are, however, other ways buyer's agents may be paid. Be sure you understand from the start- before you commit to a relationship with a buyer's agent- how the buyer's agent will be paid.

Remember, the question you really need to ask yourself is:"Can I afford to buy a home without a buyer's agent?" For most home buyers today, the answer is "NO!

THE BOTTOM LINE