Do I need a Buyer Broker Agreement with my Agent?
It is great fun for many Western New York buyers to search for the perfect home in WNY. They visit open houses, call listing agents to see homes that they find on the Internet. Many buyers mistake this as being in their best interest.
But exactly who is that agent that they are calling loyal to? You might just be surprised that their loyalty lies with the Seller unless you have a Buyer’s Broker Agreement with the Buffalo area agent.
By obtaining a Buyer’s Broker Agreement you will find someone to represent your best interests and assist you with the purchase of a Buffalo area home. And this is at no cost to you as it is customary that the Seller pays the commission. You will want to sign only on Agreement, and it is important that you make the decision to work with just one agent. Having this agreement with an agent they can even represent you if you want to purchase a For Sale By Owner.
Duties of the agent for the buyer include:
- Protecting the best interests of the buyer
- Negotiating the best prices and terms for the buyer
- Offering the property and services in accordance to Fair Housing Rules
- Fully disclosing to the buyer known facts that may affect or influence a buyers decision
- Treating all parties to a transaction fairly
Remember any agent can arrange to show properties, assist you with financing, explain forms, provide you information and monitor closing activities.