If you’re ready to buy a home, it’s best to have expert assistance navigating the process. Be sure to discuss these critical topics with your buyer’s rep:
- CURRENT REAL ESTATE MARKET CONDITIONS
Every real estate market is unique. Your buyer’s rep can share details about current market inventory, buying demand, and other factors so you’ll better understand how much you’ll need to spend to get what you want. - SERVICES PROVIDED
Many buyers don’t realize how much effort goes into finding the right home, successfully negotiating a purchase contract, and completing all the steps related to inspections, financing, and closing. Ask your buyer’s rep to explain how they will support you throughout the purchasing process. - YOUR NEEDS AND WANTS
Consider as many dimensions as possible, including your preferred home style, the number of bedrooms/bathrooms, how the rooms are arranged, desirable outdoor living features, neighborhood amenities, and commuting considerations. Be ready to set priorities, too, including “essentials” versus “nice to haves.” Most buyers must make trade-offs. - THE BUYER REPRESENTATION AGREEMENT
Ask your agent to explain how they handle this aspect of your relationship. Buyer representation agreements are beneficial for clarifying expectations and avoiding misunderstandings, and a written agreement is required before touring a home in-person or virtually. You’ll know what services you’re entitled to receive from your agent and what your agent expects from you. - OTHER REAL ESTATE AGENTS
Once you’ve formed a relationship with a buyer’s rep, you should disclose this to any other agents you encounter during your search, including open houses. It helps agents respect your relationship with your buyer’s rep. Also, don’t disclose details about your home search so you don’t inadvertently hurt your negotiating position. - COMPENSATION
Discuss compensation with your buyer’s rep. It’s an essential and often misunderstood detail! Every professional deserves compensation for their services. Your buyer’s rep will explain their fee and compensation structure. Commissions are negotiable and are not set by law. In most cases, compensation is paid when a transaction closes.
The more you know what your buyer’s agent does for you and how they are paid for their services, the more confidence you’ll have about working as a team to find your ideal home.
The Center for REALTOR® Development (CRD) confers the Accredited Buyer’s Representative (ABR®) designation, which is an official credential of the National Association of REALTORS® (NAR).
