We Frequently Get Asked This Question. So Why Should You Work Exclusively With a Buyer’s Agent?
Buying a home is one of the biggest investment decisions many people make. Unless you are experienced in the process and have access to detailed information on available properties, interest rates, market comparable sales, construction or renovation costs, taxes, school districts, etc.
Why would you handicap your ability to make the best-informed decision for yourself and your family? Here is where an experienced buyer’s agent is critical to the process. A buyer’s agent, unlike the listing agent, works for you. They have a fiduciary obligation to look out for your best interest in the transaction, not the interest of the seller. They can arm you with market information that is essential to accurate bidding, negotiating, and contracting. This information may include comparable sales in the area; the mortgage and sales history of the home you are interested in; community and school information and their impact on property values; potential renovation costs; resources for home inspections; as well as provide links to other professionals that may be essential to your home purchase. In many markets, buyer’s agents are paid out of a commission offered by the listing agent, not by you. Where else can you get the dedicated services of a professional with a fiduciary obligation to look out for your interest, without having to pay for the service?
With respect to working exclusively with an agent, it is important to understand that real estate agents may be exchanging their time and services exclusively for commissions. Good agents are in high demand. Showing homes on a non-exclusive basis is a poor use of their time with a much lower probability for compensation. It takes a lot of work to find the right home for a client and successfully execute the purchase process. There is a lot more to this business than just showing homes. An exclusive agent expends considerable effort to understand and service the needs of their client. We train our agents to give the highest level of service to committed clients. An agent is more inclined to go that extra mile for a client that stays with them thru the entire home search process.