Buyer’s vs. listing agent: What’s the difference?
Buyer’s agents are legally bound to help buyers, whereas listing agents—the agent representing the home listing—have a fiduciary duty to the home seller. That’s why it’s in your best interest as a buyer to get an agent who is there to represent you.
Let’s say, for instance, you walked up to the listing agent at an open house and gushed about how you love the home and want to buy it, but you will need to move soon because you’re expecting your second child and need to decorate the nursery pronto, or the lease on your rental is up in a couple of months. A seller’s agent could then use this information against you by informing the seller that your clock is ticking, so they shouldn’t budge too much on their asking price—or at all.
Yet make this same confession to the buyer’s agent you’re working with, and it’s all fine—this professional would know to keep this info private from sellers (and their agents) so it can’t be used against you.
A good buyer’s agent can ease your way to homeownership and ask them a few questions, including the following:
- What neighborhoods do you specialize in? Real estate requires local expertise, so you should find an agent who’s extremely familiar with the areas you’re interested in.
- What’s your schedule and availability? Part-time agents who are committed can do a fine job, but if the house of your dreams pops up or you encounter last-minute closing snags, you want an agent who will be readily reachable.
- How long have you been a real estate agent? You ideally want someone with a couple of years of experience, and a proven track record of selling homes.
Read more about Tiffany Accattato at www.AccattatoRealEstate.com where you can also read online reviews provided by past clients and find Tampa Bay area homes for sale.
Once you meet and consult with Tiffany Accattato as your Buyer's Agent, you will sign a contract called an Exclusive Buyer Agency Agreement outlining her services and compensation. This contract also means that this agent will be your sole representative and that you won’t work with other real estate agents.
How much do Buyer’s Agents cost?Home buyers need to worry about the expense of hiring a buyer’s agent. Why? Because the seller pays the commission for both the seller’s agent and the buyer’s agent.
