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Who is a buyer's agent?

0
Can someone enlighten me who a buyer's agent, and how they differ from other agents?
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Accepted Answer

  • Replied by Realcom on Friday, November 16 2012, 11:24 PM
    Good evening Ms. Oduor,

    Home buyers and sellers alike can benefit greatly from the services of a real estate agent.
    Some agents work exclusively with sellers, some serve only buyers, while others may assist both.
    Most assist both.

    Homeowners planning a move may find one agent willing to help sell their current home and shop for a new one.

    One thing an agent does in either case is help negotiate the sale. This may include proposing modifications to a deal, such as one side agreeing to pay more of the closing costs in exchange for another concession, or ensuring the deal agreed to is the same one written in the official, legal contract.

    1. Buyers' agents

    Realcoms research indicates that a buyer's agent is typically responsible for helping his or her clients find, evaluate and negotiate for a new home.

    To make the best use of an agent's services, home buyers need to communicate their needs effectively. If they need to live close to a certain area, have access to commuter transportation or want room for a garden, their agent needs to know.

    While too much detail would be restrictive,
    knowing how many bedrooms home buyers need, if they want a room that converted to a home office and other facts helps the agent select appropriate properties.
    In addition to finding them, an agent helps the buyers negotiate once they choose a future home.
    In addition, their expertise can provide answers on aspects of the home buying process like the roles played by valuers, or what costs to expect at closing.
    Agents may also help with escrow requirements.

    2. Sellers' agents

    When home sellers contract an agent, his or her main responsibility is to market the home and negotiate a sale. Listing contracts typically spell out a length of time, usually 60 or 90 days, in which the agent will make the effort to attract buyers.

    The agent crafts a marketing strategy predicated on the home's location and characteristics. Tactics agents use or recommend vary, and may include advertisements, open houses, online listings and more. Through their contacts with each other and their superior access to information, real estate agents can match up home buyers and sellers so each has a shot at getting what they want.

    3 votes by vams, Daniel Ondari, Nancy Oduor

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