One question I hear a lot from home buyer’s is “Won’t using a Buyer’s Agent cost me more money in the long run”?

As new home buyers, let me explain how this all works, incase you do not understand, as a lot people do not.

If you just drive around and call an agent off of a sign from in front of a home with a For Sale Sign on it, that agent represents the Sellers and will be looking out for the Seller’s best interest - hence the term Selling Agent or Listing Agent.

NOTE: If you do do this, make sure you enter into a Limited Consensual Dual Agent agreement and not just a Transaction Broker Agreement - Explained on the bottom.

A Buyer’s Agent will be looking out for YOUR best interest.

How do they get paid? – Good question, as most people also do not understand this.

No sale, no pay! They do not get paid by the Buyers, nor do they truly get paid by the Sellers. They get paid by what the Seller’s Agent is willing to share with the Buyer’s Agent (Disclosed in a section of the MLS that only other Realtors can see) of what he or she is getting paid by the home’s owner.

Won’t using a Buyer’s Agent change the price we are going to pay? – The answer is NO and here’s why.

A Seller’s Agent makes a deal with the Sellers to list, market and sell the home for a percentage of the sale’s price, let say 6%. The Sellers are going to pay 6% no matter if a Buyer’s Agent is used or not. What it comes down to is, will the Seller’s Agent keep all 6% by selling the home to a Buyer that has no representation, or keep only some of it by sharing it with a Buyer’s Agent? Seller’s Agents do this to get more people to look at the home and get it sold faster.

I hope this all makes sense!

If you are in the Birmingham, Alabama area and are looking for a great Buyer’s Agent, give me a call or send me an e-mail. If you are not in the Birmingham, Alabama area, give me a call or send me an e-mail anyway, I know top agents all over North America!

A Limited Consensual Dual Agent will work for both the buyer and the seller amd is loyal to both.  The ONLY thing a Limited Consensual Dual Agent can not do, is tell the bottom line to either party, which a Single Agent would not know anyway.

A Transaction Broker will just assist either the Buyer or Seller, depending on who they have the agreement with, with the sale or purchase of a home.  They still need to provide you with honest service and act in good faith, exercise reasonable care and skill, keep confidential any information gained in confidence, unless disclosure is required by law or duty to a client, Present all written offers promptly yo the Seller and answer all your questions completely and accurately.  NOTE:  ”unless disclosure is required by law or duty to a client” If this agent is a Single Agent to the Seller or Buyer and only a Transaction Broker to you, ANYTHING you tell them, can be relayed back to the party they represent.