How do you go about approaching a buyers agent when buying a home?

Question

I was unaware of this step, until I was informed of this service from people on Yahoo! answers.......thanks!

Answer 1

Most buyers agents will want you to sign an agreement stating that for their efforts to locate you a home you will allow them to represent you when you purchase a home. Some will even stipulate that should you buy a home within a stated time frame, (some in a specific market area also, which is a bit less restrictive) You will use them, or owe them a commission. DO NOT SIGN ANY BUYERS AGENCY AGREEMENT until you are assured of their abilities. As a listing agent I have found most buyers agents were horrible at negotiating, poor at following up with their clients, and more interested in selling agency agreements than in actually doing even a fraction of what should be done. Any agent can pull multiple listing info and open a house for you to look at. You need someone that has more talent than just the ability to read a thomas guide and work a door knob. Qualify the agent as they will make 2-3 % on average paid for by the seller, not you, to handle your transaction. Ask the agent to show you some recent deals they have done including the list price. Did they negotiate a fair deal, or just close another windfall for a seller. Remember this time the purchase price is what your payment will be based upon. I never have had to use a buyers agency agreement ever, I have always had loyal clients because of the what and how of my service provided. One last tip, the agents personality or looks wont matter once you own the home, use the agent that can perform in your best interests and has the references to back up their claims. I have never had to make a full price offer in any market condition and have a higher than 95% success rate at getting my deals signed.

Answer 2

You can approach a buyer's agent by first researching an agent and finding who they mainly represent. Some mainly represent sellers, some buyers and some both who are called dual agents. Although there are many good dual agents, a true buyer's agent is one who specializes in just representing buyers. A good buyers' agent will be one who has enough experience to guide a buyer to the right house and neighborhood and one who can expertly coach the buyer through the escrow process which includes many issues. Issues range from environmental issues, government retrofit issues, crime statistics, disclosure requirements, buyer paperwork requirements and the buyers' best interest. A good buyer's agent will be one who will research the buyer's home of choice and give the buyer a reasonable opinion of it's value and what the buyer should offer. A good buyer's agent will be a good negotiater but also a diplomatic advocate for the buyer as deals close more effectively for a buyer when everybody gets along and everybody wins. Good buyer's agents don't have airs about them or huge egos that get in the way of representing the buyer. You don't want an agent who fights with the seller or seller's agent all the time as this could upset a otherwise smooth transaction This is a deep subject in the industry and I could go on and on. Just remember to really check out the buyer Representative you hire. There are many agents out there. Interview, research and check references. Also, make sure that the agent you hire has the personality you can get along with as you will dealing with that agent for sometimes months before finally closing escrow and then sometimes years as you own the house.

Answer 3

Of course this varies from state to state...

In Texas any agent can act as a buyer's agent. Find an agent that you like and trust. Once you've found that person then you need to sign a Buyer Representation Agreement. This souldn't cost you anything, although (rarely) in some cases a buyer's agent will charge an upfront fee that will be credited at closing.

Do make sure to get a signed Buyer's Representation agreement though. Without one, the agent you're working with is actually working for the seller.

Good Luck!!

Answer 4

Apparently, don't look on Yahoo Answers!

Talk to some people who's judgement you trust. Ask them who helped them buy their houses and if they would use that same agent again. If so, then contact that agent, or better yet, have your friend contact them and point out that you're a friend - that will put the agent in a position to "take good care of my friend".

Some states have "dual agency" and some have "intemediary relationship". In Texas, if I represent the buyer only on a transaction (an agent from another company representing the seller), then I'm a buyers agent on that transaction. If I have a listing, and an agent from another company sells it, I am a sellers agent on that transaction. If I have a listing and it happens to match the needs for a buyer being represented by someone at my company, then our company is placed into an intermediary relationship position for that transaction. (the broker is actually who is representing you, not the individual agent)

Some agents can be specifically sellers agents - they'll only list houses, but will not deal with buyers. Others can be specifically buyers agents - they'll only deal with buyers and not list houses. Either specialty is ok.

The only way to be specifically an intermediary agent would be to list houses, not allow any other agents to sell them, and only show your own listing to the buyers you're working with. I've never heard of an agent like that.

Answer 5

Sorry to hearken to what ensue, she is new as a real sources agent? Did you positioned up a appropriate written grant as a result the supplier could be attentive to you have good intentions. right here in Dallas as quickly as I a am a purchasers agent all grant ought to be interior of right here way for Dallas actual sources brokers to place up: a) Pre-approval letter b) reproduction of written grant for the words c) reproduction of decision examine d) reproduction of escrow examine NOW all states are diverse yet as being a Dallas purchasers agent and a Dallas supplier agent it extremely is universal right here. NOW in case you probably did pass around your agent you ought to be sued that relies upon on how a state does business employer in actual sources.

Answer 6

Call a large real estate company and ask if they have buyers' agents. Most of them do.

Answer 7

Take your real estate agent with you.
This is a free service when buying a home.