Shari Sanderson at Award Realty
News > What is a Buyer's Agent and Why Should You Want One
Last year, almost 5 million residential real estate transactions closed in the U.S. Each of those transactions involved 2 parties: the Seller and the Buyer. But how many buyers had their own agent?
More home buyers than ever are realizing they’re entitled to their own professional representation. Almost all sellers hire an exclusive Listing Agent. That Listing Agent arrives at the market value for the property, helps prepare it for the market, advertises the home to potential buyers, negotiates contracts on behalf of the seller, and closes the deal. At every step, that Listing Agent looks out for the interests of the seller.
Why shouldn’t a buyer want the same thing?
What a Buyer’s Agent Does
Your Buyer’s Agent in Las Vegas represents you throughout the entire process of buying a home. They consult you at the beginning to identify exactly what you’re looking for. They conduct a thorough search of all available properties, and schedule showings at the ones that could be a fit. They accompany you on showings, offering expert advice to help you make the right choice. Finally, your Buyer’s Agent negotiates, and helps close the deal, representing your interests in the process.
Anyone who’s bought a home knows that agreeing on a price is only the first step. There’s an escrow period, usually of 30 to 60 days, involving inspections, surveys, title work, and finance approvals. Throughout that process, your Buyer’s Agent protects your interests, advising you how to proceed. If a challenge pops up in escrow, it’s invaluable to have a savvy negotiator on your side that knows exactly what to do.
What’s Dual Agency?
When you see a for sale sign on a home, the real estate agent listed on that sign is the Listing Agent. When you enlist that agent to write an offer on that property on your behalf, the agent is acting as a Dual Agent, meaning she represents both sides of the deal. Dual Agency is allowed, but it limits how the dual agent can help the buyer. She can’t, for example, legally disclose how low the seller might go on price. A Buyer’s Agent, on the other hand, can do this, and more.
What About New Construction?
Builders typically have Listing Agents in their sales offices helping them market new projects. Those agents are bound by law to be truthful with customers, but as a buyer how do you know you’re asking the right questions? Those agents' only fiduciary responsibility is to the builder. Is the price fair? Will the value hold up over time? Is there room to negotiate on price or upgrades? Your Buyer’s Agent can honestly and ethically answer those questions, and most builders are happy to work with Buyer’s Agents, and to pay their commission as well at no cost to the buyer.
We Want to Be Your Buyer’s Agent!
We’re experts in the Las Vegas condo market. We know the inventory and we’ll help you with your search. You deserve your own representation. We’ll make sure you’re not alone in the negotiation process. We’ll make your home buying experience as great as it can be, and we’ll give you the confidence to know that your interests are being expertly represented along the way. Even if you are months away from a purchase, you should contact us early so that we can assess your needs and help you put a plan in place.
Though not guaranteed, information and statistics in this article have been acquired from sources believed to be reliable.
The Fair Housing Act prohibits discrimination in housing based on color, race, religion, national origin, sex, familial status, or disability.
Information Deemed Reliable But Not Guaranteed. The information being provided is for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This information, including square footage, while not guaranteed, has been acquired from sources believed to be reliable.
Last Updated: 2023-06-05