A Buyer’s Agent May Save You Money
Did you know that most real estate agents work for the homeowner, not the buyer?
Ethically, it’s fine for a real estate agent to represent both the buyer and a seller in the transaction. However, an agent’s commission is based on the selling price of the property, so whose interests are served during crucial price negotiations? The higher the selling price – the higher the commission.
What’s the answer? The solution may be using a buyer’s agent. A buyer’s agent is a licensed real estate professional that does not list houses for sale; rather, he or she represents only the buyers in a transaction. They may be affiliated with a traditional real estate agency, or they may work for an Exclusive Buyer Agency (EBA) that does not accept any listings and only works for buyers by helping to match them with suitable properties.
When interviewing a buyer’s agent, keep these points in mind:
- Length of experience as a buyer’s agent
- Whether he or she works for an EBA or a traditional real estate agency
- Number of clients he or she has represented over the last six months (and get references)
- Whether he or she works on commission or for a flat fee
- Whether he or she has access to a network of For Sale By Owner (FSBO) properties
Contact Crisp Creative to learn more about experiential marketing!