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Are Buyer Agents Really Free?

Tuesday, April 11, 2017   /   by Ryan Fellows

Are Buyer Agents Really Free?

There seems to be a big misconception that when you are in the market to purchase a new home, that you need to pay for an agent to show you homes. That is actually incorrect!


 


When you decide that it is time for you to purchase a home, there are many options on the market. Sometimes, you don't know what you like until you see some in person. Yes, there are many different websites that have homes for sale to look at. So you can sit at home and scan the Internet and waste time looking through homes that do not meet your needs, or you can have someone do the leg-work for you?


The best place to start is with a consultation. This can be a quick meeting to get to know your agent. You need to interview them as much as they are interviewing you. This will ensure that they meet your needs and you feel confident that they will be working hard for you to find your next home. The buyer agent will also be able to obtain all of the necessary information to find you the right properties to start your search.


This is where a buyer agent comes in. These are real estate agents that specialize in finding homes for buyers. They are familiar with the market, what is available, and locations to fit your needs. It is good to give your buyer agent as many details as possible so that they can lessen the number of properties you will view. Their goal is to find the right home for you in the least amount of time.


So How Are Buyer Agents Paid?


Well, when a seller decides to list their home with an agent, the listing agent charges them a commission percentage. From the listing commission the agent acquires at the closing of that property, a predetermined portion of that is used to pay the buyer agent. In short...the listing agent is paying the buyer agent for bring them the business and selling their property.


Click HERE to contact our Buyer Agent


If you are selling, or thinking about selling your home, here are some other blog topics you may be interested in.

 

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Is it time for you to get Pre-approved for a mortgage?

If you are considering purchasing a home in the near future and are ready to start preparing for the pre-approval process fill out a pre-approval request form here.

When you are looking to purchase a home it is important to know the steps involved in the buying transaction. Take a look at this article on the 10 Important Steps to Buying A Home


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