Q: How much will the Buyer’s Agent services cost me?
A: Nothing (disclaimer: some agents do charge the buyer for their services. I don’t charge the buyer under any circumstances).
Q: How does a Buyer’s Agent get paid, if not through me?
A: Through the agent that is listing the house. Common practice is for the listing agent to split his or her commission with the buyer’s agent for bringing the buyer to the table.
Q: Does using a buyer’s agent somehow hurt me in negotiations or result in a higher price for a property?
A: No! The seller has already agreed to pay a set commission upon their sell to the listing agent, regardless of the number of agents in the sale. Again, if a Buyer’s Agent is used, that agent simply gets half of this commission. The seller doesn’t care who gets the money... And the Listing Agent is happy someone found a buyer for her seller. Use of a Buying Agent is found in the majority of transactions today.
Q: What’s the primary benefit in utilizing a Buyer’s Agent?
A: Simply put: Your interests are represented. You’ve got a professionally licensed person bound by laws to work diligently toward your goals.
Q: If I use a Buyer’s Agent, what are their obligations to me?
A: Their general obligation is to act in your best interests, while providing reasonable professional care and knowledge. I provide within my Buyer Services complete guidance throughout the entire transaction. I act as your personal expert, financial adviser, business expert, coordinator, and administrative assistant at each step. I'm also a designated Realtor, whereby our pledged standards and liabilities are much greater.
Q: So, if someone is driving me around and showing me property, do they represent me?
A: No. Let me give some history: In the past, real estate agents represented the seller exclusively, whether the agent helped a seller to market and sell the home or even if they helped a buyer find and purchase the home. Wow, think about that: someone drove you around submitted offers for you and they actually worked for the seller! It’s no wonder how the Real Estate Industry obtained a bad reputation! Per today’s law in Georgia, if an agent is truly representing a buyer, you must get a ‘Buyer’s Brokerage Agreement’ signed. It states that the agent is representing the buyer and is bound to act on behalf of the buyer’s interests.
Q: What happens if I sign a Buyer’s Brokerage Agreement and decide I’d rather work with someone else?
A: You can cancel the Agreement at anytime!