A good Buyer Broker is worth their weight in gold. Enlisting in the aid of a buyer broker is the one single best thing a buyer can do.
Why? Because the seller has agent representation in the form of the “listing agent”. The buyer should have his own representation. That person should not be one and the same person.
When a seller puts his house on the market to sell, he hires an agent to be his “listing agent”. This person owes all his loyalty to the seller, who hired him. By law, that agent must represent the seller, not you.
Hiring a buyer broker to represent you in finding a house, you also get an agent to represent you. When you find the right house, that agent will go to bat for you, not the seller.
The best part of all, it typically doesn’t cost you anymore for representation. Most likely, it will save you time and money. A buyer broker’s compensation comes from the cooperation fees offered by the listing broker on the property that is purchased. There are a few exceptions, but they are not typical.
Finding a buyer broker that will work for you is important. It’s not just about finding a home, it’s also about finding a home in the right place for your budget, lifestyle and taste. It’s about paying a fair price, closing on time without serious headaches and enjoying the experience.