Why use a Buyers Agent?

Let me start by giving you a brief history as to why "buyers agency" was started.  It was in 1983, that the Federal Trade Commission, did a survey to see how many home buyers thought they were being represented by the agent showing them the home they bought.  It was not soon after this that all states started to adopt a statute law of agency.

Here are two scenarios, that a home buyer can run across:

1.) You call an advertisement off a newspaper ad, internet or open house sign.  You proceed to view the property, talk to the agent about the home, maybe about your situation, and agree to make an offer.

2.) You are recommended by a friend to a "great" agent, and he/she proceeds to show you many homes over the course of a few days.  They buy you lunch and even babysit your kids when you run into a store!  YOU know and TRUST this agent!  They end up finding you the dream home you have been looking for, you agree to make an offer.

In both these situations, the agents are working for the SELLER, not you!  They have a fiduciary responsibility to disclose anything they know about you to the seller!  So if you are going thru a divorce and need to find a home quick, or if "money is not an object", or any other personal things you may have disclosed in the hours or days you spent together, it is all supposed to be disclosed to the seller!  This gives them an unfair advantage sometimes! 

Buyers Agent offers you...

Everything the sellers agent does and more! 

• Provide access to Full MLS
• Prepare a CMA
• Suggest an informed offer price
• Keep your financial information secret
• Keep your objectives confidential
• Help negotiage the best price
• When writing an offer, writing it to be more favorable to the buyer!
• Provide Anonymity if need be

 One question people always want to know is who pays the "Buyers Agent".  Well for me that is always paid by the sellers commission and what they offer to pay a buyers agent.  Typically that is 3% for a resale home and 2.5% for a new home.  Also I offer my clients a rebate!

Keith Lutz is an experienced REALTOR® based in Charlotte, North Carolina. Thinking of purchasing a home in the Charlotte, NC Real Estate market? Keith Lutz is a professional with all the answers you need!

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