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 Jill McDowell is Licensed Real Estate Salesperson at Daniel Gale Sothebys International Realty in Smithtown and Former News 12 Reporter/Anchor Jill Conway. Jill is a member of the LI Board of Realtors and the NYS Association of Realtors. Contact Jill with real estate questions at Jillmcdowell@danielgale.com or 516.316.2000. #JUSTaskJILL |
| In the real estate world, there are seller agents and buyer agents. Before I write about buyer’s agents, we need to discuss what seller’s agents are so you have a better understanding. Seller’s agents are also known as listing agents. They are hired by the homeowners to list and sell their home. The contracted agent works for the seller and their best interests. They are obligated to give their client undivided loyalty, confidentiality, care and full disclosure, just to name a few things. The seller’s agent should not represent the interests of the buyer; which is why buyer’s agents are so important. As you know, the purchase of a home is a big decision and one of the biggest purchases in someone’s life. So if you are actively seeking to purchase a home, find yourself an agent you like working with and a skilled, ethical professional who can represent you and your best interests in the purchase. In real estate, an analogy is often used -if you are involved in a court case, do you represent yourself or hire a professional to represent you? The same goes for a real estate transaction. Some people choose to do it alone and represent themselves. However, most people feel more comfortable hiring an agent who knows the ins and outs of the system and works to get them the best deal. A buyer’s agent does not look to get the seller the best deal. They work to get their client the best deal. Having a buyer’s agent in today’s current tight market is crucial. Buyer’s agents not only research the local market listings and schedule showing appointments for properties, but also advise clients on appropriate offers and negotiate a deal. A buyer’s agent can also refer their clients to reliable and well regarded professionals like home inspectors, real estate attorneys, mortgage brokers and moving experts that can help the deal move along. In the negation process, issues arise and things can get heated. It’s best to have a real estate agent that doesn’t escalate the problem and create more stress, but rather stay calm and help find a fair resolution. How do buyer’s agents get paid? Typically, the buyer agents commission is worked into the listing agreement with the homeowner. If it’s not, the buyers agree to pay their agent separately. By signing an exclusive buyer’s brokerage form, a buyer agrees to work exclusively with that specific agent when buying a home. The agent also agrees to focus on the needs of that buyer and work for them to find the home of their dreams. Happy House Hunting! |
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