When shopping for a house, consider hiring a buyer’s agent | PostIndependent.com

When shopping for a house, consider hiring a buyer’s agent

Shannon Kyle
Glenwood Springs, CO Colorado

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:

– Helping you clarify your priorities.

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

– 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.

Support Local Journalism

Support Local Journalism

Readers around Glenwood Springs and Garfield County make the Post Independent’s work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.

Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.

Each donation will be used exclusively for the development and creation of increased news coverage.

For tax deductible donations, click here.

Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.

User Legend: iconModerator iconTrusted User