In today’s real estate market, we have a buyer’s market. This means there is a surplus inventory of homes available to purchase. If this is the case, why is it so important to be represented by your Realtor?

Let’s look at what a buyer’s agent is: A buyer’s agent is an advocate for the buyer ” NOT the seller ” in a real estate transaction. Buyer’s agents usually owe full fiduciary (legal) duties, including loyalty and confidentiality, to their buyer-clients and work in their clients’ best interests throughout the entire transaction.

What services are performed by a buyer’s agent? If you have established an agency relationship (signed a contract with the agent for representation), common services include:

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– Helping you clarify your priorities.

– Suggesting sources of financing and other service professionals, such as inspectors and exterminators.

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– Providing sources of accurate and lawful information on neighborhoods, schools, and communities.

– Selecting and arranging property showings.

– Evaluating particular properties.

– Explaining forms and agreements.

– Suggesting contract contingencies to protect you, rather than the seller.

– Assisting in the negotiations for a favorable price and terms.

– Keeping all information confidential that could weaken your bargaining position.

– Monitoring the entire purchase process, assisting with issues that arise through closing.

You will not pay more to have representation; most of the time the buyer’s agent receives their commission from the listing broker in the sale. But all the details will be spelled out in your contract. Call your local Realtor before you begin searching for a new home ” and ask them to be your buyer’s agent.

Shannon Kyle is with the Glenwood Springs Association of Realtors Public Relations Committee.