Protecting Your Rights as a Home Buyer

What is a Buyer's Agent in Real Estate?

A Buyer's Agent is an agent you empower to represent your interests in a real estate transaction.  Before states passed real estate agency laws, most real estate agents actually represented the seller's interests legally (which made it hard for them to ethically get the best deal possible for the buyer).

When do I need a Buyer's Agent?

Whether you are buying a multiple listing property, a for-sale-by-owner, an investment or are having a house built, you owe it to yourself to have your own representation.

What does buyer representation cost me?

If you are buying a multiple listing property, the seller will almost always pay your Buyer's Agent out of the proceeds of sale.   In addition, many for-sale- by-owners and most good builders already have a partial commission built into their prices.

However, in circumstances where the seller is obviously not offering any commission, your Buyer's Agent will discuss some mutually agreeable fee with you ahead of time.

What value do I get for buyer representation?

That depends on what you need.  A good buyer's agent will-

1. Represent only you in the purchase of your property.
   
2. Have a good sense of property values so you don't pay too much or lose a
   once-in-a-lifetime home to another buyer who understood the value better
   than you did.
   
3. Know qualified lenders to help you get pre-approved (a powerful negotiating tool when your offer is being presented to the seller).
   
4. Monitor the market daily to make sure you see the good deals before they're snapped up by someone else.
   
5. Assist you in preparing an offer with terms favorable to you, the buyer.
   
6. Present the offer to the seller and negotiate the offer on your behalf.
   
7. Provide you with an estimate of closing costs.
   
8. In conjunction with a qualified home inspection service, make sure you understand physical problems (current or potential) affecting the usability and value of the property.
   
9. Supervise the closing process to assure you a timely and accurate closing.

Building a home? Click here for everything you need to know to build a home.

How do I find an Accredited Buyer Representative?

You just did- for Vancouver and Clark County, Washington and the Portland, Oregon metro area!

For assistance in finding a qualified Buyer's Agent in another part of the country (or world), click here.