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Why a Buyer's Agent

Who is representing YOU when you buy a home? The seller's side is represented by the listing agent. The buyer's side is represented by the Buyers agent (sometimes called the “selling agent). Most agents concentrate primarily on one side or the other. This is not a "hard and fast" rule. There are also agents who split their time equally between buyers and sellers. Often, these are the very best Realtors.

What is Dual Agency? Dual agency is a term to describe the situation when the same agent handles both sides of the real estate transaction. That realtor is barred from doing anything to advantage one side over the other. No confidential information may be disclosed without permission. Both parties must agree in advance and in writing to this arrangement.

How does the Buyer’s agent get paid? Having a Buyers agent represent you does not have to cost you a cent! When a Seller agrees to list his home with a Realtor, they agree to pay a commission, usually 6% of the sale. It is predetermined that part of that commission (usually 3%) will be paid to the Buyer’s agent…no questions asked! Even FSBO’s (For Sale By Owners) are usually willing to “Co-op” - pay the Buyer’s agent 3%. But this can be tricky, the FSBO will usually not agree to pay if YOU contact them first. Be sure to let your realtor make the initial contact and continue the negotiations w/ the FSBO.

If the Seller pays the fee, how is the Buyer’s interest protected? The State of Ohio has legislated “full disclosure” of representation through a special form that must be filed with the real estate contract whenever a Realtor is involved in a home sale. The Buyer’s agent owes the Buyer complete loyalty, and must function with the best interest of the Buyer in mind. Both the Buyer and Seller must acknowledge this relationship by signing the State’s form.

How to choose a Buyer’s Agent. The most important factors in choosing a Buyer’s agent are similar to the reasons why you choose any professional:High integrity

Skills necessary to do the job
Experience representing Buyers
Support staff so the Realtor can focus the necessary time and energy on your seach
The ability to communicate effectively – able to listen and understand your requirements and desires
Sufficient knowledge of the housing market to expose you to all the options available
Knowledge of the relative values of areas, neighborhoods, lot characteristics, amenities, finishes, and other factors that determine value
Negotiating skills to get you the best possible deal
Support staff to see the transaction through to closing, including navigating through the inspections, title work and mortgage finalization
Professionalism to get the job done with the least amount of stress and confusion for the Buyer!!

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