I recently was having a conversation with an individual I had just met. They didn't know that I worked in the Real Estate Industry. This individual was doing some future dreaming about retirement and mentioned that she may want to eventually downsize when that time comes. She continued on by saying that anytime she has purchased a home in the past, she called the agent on the sign in the front yard. Therefore, she has never worked with an actual Buyer's Agent. I would like to share some information with you about the difference in types of agents and who represents who in a Real Estate Transaction.
When you find a house for sale by driving by, the name on the for sale sign is the Listing Agent. This listing agent represents the owners that are selling the home. A listing agent has the home sellers best interests in mind. If you are a person who calls the listing agent, you can see how this can get complicated. The listing agent is trying to get the sellers the best deal, but what about the best deal for you as the buyer?
This is where a Buyer's agent comes in. No matter what phase you are in of the home buying process, whether browsing, going to open houses, or even ready to make an offer, it's time to get a Buyer's Agent. This person is solely representing you in your purchase. They will save you time by narrowing down your search to homes that are what you are looking for, they will negotiate the terms of the contract when you make an offer and guide you through the entire transaction process.
But how expensive is it to hire a Buyer's Agent? Here in Missouri, the Buyer's Agent's commission is paid by the home sellers. They helped sell the home, so it comes from the sellers rather than you. When you think about it, the representation you are being provided that has your best interests in mind (not the sellers) at no cost to you, it seems odd that anyone would choose to not work with a Buyer's Agent.
If you are getting ready to start your house hunting journey, get a buyer's agent!
*For even more ways a buyers agent can help you, CLICK HERE*