Benefits of having a Buyer’s Agent

New York State law regarding agency is complicated. Agency is a relationship of trust created when one party gives another the right to represent him in dealings with third parties.  Real estate agents work for either the seller or the buyer of a property or both if all parties agree to dual agency (for a full description of agency, check out our previous post on the subject). If you have not specifically engaged a real estate agent to represent you as a buyer, then they are acting as agents of the seller, even if they are not the seller’s listing agent. You are considered their customer, not their client.

At McSharry and Associates Realty we prefer to have established client relationships with our buyers because it allows us to do business in a manner most in keeping with our commitment to provide the best possible services, all of the time

Here are just some of the benefits of having a buyer’s agent:

• We represent you in the purchase of any home, not just those currently on the MLS.
• We work full time on your behalf to help you find your next home.
• We have access to the most up to date and complete information.
• We offer advice, judgment and counsel to you.
• We interpret market information, calling on our 27 years of experience.

Here is a list of the tasks we complete on your behalf:

• Educate you on the process of buying a home.
• Search for homes available to purchase.
• Provide constructive feedback on properties to help you make a selection.
• Perform in-depth research on properties that interest you.
• Provide a market analysis on potential properties.
• Negotiate offers on your behalf.
• Provide suggestions for lawyers, inspectors, banks, etc
• Assist you in navigating the process from contract to closing.

Many Realtors utilize an Exclusive Buyer Agency Agreement to codify this relationship. This document protects the real estate agent, ensuring they will be paid a commission when the buyer purchases a home. Agents typically ask buyers to sign this contract at their first meeting but at McSharry and Associates, we do not ask buyers to sign these agreements. We believe that our buyer clients should work with us because we are doing a great job for them, not because they signed a contract. These agreements are not necessary to establish the buyer agency relationship so rest assured, we are always working on behalf of our buyer clients from the minute they elect to engage our services.

Photo credit: iStock.com/Ridofranz