Everyone is familiar with using an agent to assist in selling a home, but did you know that using a Buyers’ Agent is just as important?
If you are shopping for homes, and are solely dealing with the Sellers Agent, you may not end up with the best possible outcome. Why? Because a Sellers Agent works exclusively for the seller, and their only obligation is to get the best possible deal for the seller. Because the Sellers Agent has no duty to assist you, this relationship can result in you not getting the best deal on that new home. In addition, if you are communicating with a Sellers Agent, be wary of relaying confidential information to them, because they have a duty to pass that information on to the seller.
What can a buyers agent do for you?
Using a Buyers’ Agent is the best thing you can do for yourself when buying a home. Often the Buyers’ Agent is paid for by the seller, yet they work for you exclusively to ensure your needs and expectations are met during the home-buying experience. They have an obligation to keep your information confidential, and will put your interests first. Once you’ve selected an agent, a contract should be drawn up indicating the agent is representing you.
How to choose the right agent?
When looking for a Buyers’ Agent, consider hiring a REALTOR®. Why use a REALTOR®? Because when you are making what is possibly the biggest purchase of a lifetime, it’s important that you enlist help from someone who is highly knowledgeable and maintains a high standard of conduct and ethics. Hiring a REALTOR® will ensure you get the most bang for your buck, because only REALTORS® are members of the National Association of Realtors and are required to maintain these standards.
In addition to ensuring your agent is a REALTOR®, make sure the agent’s real estate license is active and in good standing, and they also have access to an MLS. Multiple Listing Services are the very best resources available to home buyers, and a good agent will generally belong to one.
As a loan officer for many years in the Memphis area, Wendy has made some great contacts and personally knows a lot agents. She has a unique perspective dealing with clients from many agents and has insight on which agents are super stars. She has made a list of these super star agents to help you find your REALTOR®.