What’s a Buyer’s Agent?
A buyer’s agent is a real estate agent who represents the purchaser’s best interests through all phases of a real estate transaction. And, according to Money Magazine, “Choosing a real estate agent to represent you should be one of the first, and perhaps the most important, step buyers should take before shopping for a home.”
What’s the cost?
Working with a buyer’s agent doesn’t cost buyers any additional money or affect the price of the home. Like most traditional real estate agents, the services of a buyer’s agent are included in the commission paid by the seller or developer. That means that buyers who use a buyer’s agent can rest assured they are fully represented throughout the entire real estate transaction.
What’s the advantage?
Although Florida real estate law is designed to protect the buyer and seller equally, a Realtor® who lists and markets a seller’s home or works on-site selling new homes for a developer or builder is probably representing the seller’s best interest, not the buyer’s. As a purchaser, your buyer’s agent is your advocate in a real estate transaction.
Also, research has shown that buyers who used a buyer’s agent found their home faster than those who did not.
How can I tell if a Realtor® is a buyer’s agent?
A buyer’s agent will have earned the Accredited Buyer Representative (ABR) designation, which is the benchmark of excellence in buyer representation. The Real Estate Buyers’ Agent Council (REBAC) of the National Association of Realtors® awards this coveted designation to real estate agents who have met the specified educational and practical experience criteria. Only about two percent of all real estate professionals in North America earn the buyer’s agent designation.
As a buyer’s agent, I am not affiliated with any developer, builder or country club community. That means, I’m not going to sell you a home, I’m going to help you buy one. That’s the advantage of working with a Buyer’s Agent.
Steve Schoepfer, Realtor GRI ABR