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A
Buyer’s Representative:
- Is an advocate for the buyer – not the seller
- Works for, and owes fiduciary responsibilities to, the real
estate buyer and has buyer's best interests in mind throughout
the entire real estate process.
- Never accepts listings. Never has a seller as a client
- Has full fiduciary responsibility to buyer/client
- Protects the best interests of the buyer
- Provides expertise throughout transaction
- Provides a written buyer’s representation agreement defining
responsibilities and obligations
Responsibilities of a Buyer’s
Representative Include:
- Evaluating the specific needs and wants of the buyer and locating
properties that fit the criteria
- Assisting the buyer in determining the amount that they can
afford, and showing properties in that price range and locale
- Presenting the buyer all the homes in the MLS, For Sale By Owner
properties, foreclosures, even properties that are not on the
market
- Coordinating viewing of properties -- accompany the buyer on
showings and previewing the properties on behalf of the buyer
to insure that the identified specifications are met
- Researching the selected properties to identify any problems
or issues to help the buyer make an informed decision prior to
making an offer to purchase the property
- Informing buyer about all information pertaining to the property,
including traffic problems, poor school system, high crime rates,
etc.
- Calculating the fair market value of the home and assisting
the buyer in developing an offering price by using comparable
sales data
- Researching the seller’s motivation for selling
- Informing buyer of all information regarding the seller, including
any reasons the seller may have for wanting a quick sale
- Advising the buyer on structuring an appropriate offer to purchase
the selected property
- Keeping all information about the buyer confidential, including
the buyer's ability or willingness to pay more for the property
than they are offering as well as the buyers motivation for buying
- Presenting the offer to the seller on the buyer's behalf
- Assisting in the securing of appropriate financing for the
selected property
- Making available a list of qualified service providers (e.g.
title companies, inspectors, attorneys, movers, carpenters, etc.)
- Representing the buyer throughout the real estate transaction
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