A buyer's agent represents you anytime you are looking to invest in property via a real estate transaction. The Buyer's agent owes full fiduciary duties, responsibilities, and loyalty to you, the real estate buyer. The buyer's agent works for you, the buyer, and has your best interests in mind throughout the full life of the real estate transaction process.
It is imperative for the client in the first interview to discuss how the buyer's agent will be compensated. Most of the time in Mississippi, the seller pays the commissions. In most cases, it is wise for the client and buyer's agent to agree to the compensation terms before going to view property. It is recommended that they sign a written agreement based on the terms discussed by the two. The agreement should map out the responsibilities of both parties from beginning to end of the transaction.
The average person usually makes around 3 real estate transactions in their lifetime. Purchasing real estate is a very complex, tedious, and major transaction. There are many details that must be taken care of. Most of the time the agent represents the seller. Wouldn't you want to have fair and complete representation throughout your real estate transaction?
The Realtor acting as a buyer's agent has a duty to protect their clients' best interests. Recent research performed by the National Associaton of Realtors has shown that when a buyers agent is used, the buyer found their home one week faster and viewed three more properties than those who chose not to work with a buyer's agent.
The Benefits of Using an Exclusive Buyers Agency Agreement
Only an Exclusive Buyer Agent can Guarantee you are represented 100% in your home purchase from beginning to end.
Research the specific needs and wants of the buyer and find properties that meet that specific criteria
Help the buyer in determining what they can afford and show properties in that price range and area the purchaser has determined.
Help the consumer with establishing an acceptable offer to purchase their desired property
Only an Exclusive Buyer Agent can Guarantee to negotiate on your behalf as a buyer.
Explain and Review all legal documents to the buyer client
The Exclusive Buyers Agent is trained so that it will level the playing field when they go to negotiate your offer because of their high level of expertise.
An Exclusive Buyer Agent will make sure the buyer uses a home inspector that is qualified who will treat the buyer as a client vs a customer.
An Exclusive Buyers Agent's job is to make sure the buyer gets the lowest price on the best terms.
An Exclusive Buyers Agent assists you with your financing alternatives. They will advise you to be pre-approved by a lender because that helps your negotiating power when trying to purchase property for the lowest price possible.
An Exclusive Buyers Agent has an obligation both legal and ethically to put your best and all interests first.
Does it not make sense to make sure you use an Exclusive Buyers Agent?