10 things about buyer agency you might want to know

?Buyer Agency is misunderstood. I meet a lot of buyers who have never worked with a realtor before. Realtors not only help buyers find what they are looking for, they are also there (more importantly) to help them through the negotiations and paperwork stages.

Many years ago, here’s how buyer agency was explained to me (I’ve paraphrased).

A good realtor will formalize the client relationship with a buyer by using a written agreement. The relationship is called buyer agency. The buyer agency agreement creates a bond with the homebuyer just like a listing agreement creates a relationship with a home seller.

For a homebuyer, client status affords many benefits not available to customers. The chart below shows the advantages of becoming a client.

Services available to buyers: Customer vs. Client

Service Customer Client
Arrange property showings Yes Yes
Assist with financing Yes Yes
Provide accurate information Yes Yes
Explain forms and agreements Yes Yes
Give advice and council No Yes
Keep bargaining position confidential No Yes
Negotiate best price and terms No Yes
Disclose info that improves bargaining position No Yes
Prepare offer favorable to buyer No Yes
Show unlisted properties No Yes

If you’re not working with an agent and you’re hoping to buy a home, why are you putting yourself at a disadvantage? It doesn’t cost anything. That’s the best part.

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