25 de mar. de 20223 min de leitura

What is a “Buyer Agent” and why do you need one!!!

Whether it's your initial home or permanent residence... A vacation home or even an investment... Buying a home can seem like a daunting task. Fortunately, REALTORS® can make the process less daunting. As a buyer, you'll want to find a buyer's agent who can help you get the perfect home. But what is a buyer agent and how does one differ from a listing agent???… What is a buyer's agent???... A buyer's agent is a real estate professional who guides the buyer through the process of buying a home. As a buyer's representative in a real estate transaction, the buyer's agent has a legal obligation to protect the buyer's interests and work to ensure they are getting the best deal possible. While there are some real estate professionals who specialize in working with buyers, most of them work as buyer agents or listing agents, depending on the specific transaction. Buyer's Agent vs. Listing Agent... In a real estate transaction, there are usually two real estate agents involved… A buyer's agent and a listing agent. The buyer's agent works on the buyer's behalf, while the listing agent represents the seller's interests.

The buyer's agent will help the buyer navigate the real estate landscape, finding properties and advocating the buyer and their unique needs. The listing agent, on the other hand, is responsible for listing a property from a seller. A listing agent has a fiduciary responsibility to look after the seller, ensuring they secure the best possible terms for the sale of the seller's property. Rather than hiring their own homebuyer's agent, some buyers believe they can find a property they like and work with the listing agent to complete the sale. While this type of double agent can be done, it is highly discouraged because it leads to a conflict of interest. When it comes to the negotiation process, there is no way for an agent to be loyal to both parties to the transaction. Buyers and sellers have inherently different interests, especially with regard to the purchase price. So what’s the good news??… The good news is that having a buyer's agent on your side not only saves you money, in addition to no costs to you (unless You sign a buyer’s representative agreement where you are hiring a REALTOR® and will be responsible for the fees), because the seller pays the full sales commission to the listing agent, and hence you have no one to help you make sure you're represented in the negotiations.

If you decide not to have buyer representation, the listing agent, who represents the seller, will normally take the full commission!!! When listing agents are under contract to sell a home for sale, the commission that the seller has agreed to is already in the contract and includes the amount that would be paid to the buyer's agent. If an unrepresented buyer is involved in the transaction, the listing agent is entitled to the entire agreed-upon commission. The Accredited Buyer Representative (ABR®) Designation… The Accredited Buyer Representative (ABR®) designation is for REALTORS® who focus on working directly with buyer clients at all stages of the home buying process. Work with a REALTOR® to get started!!!... You’re about to embark on an exciting journey – moving to Portugal!!!!… There’s a lot of information on the internet, but it’s always best to check with reputable professionals, to ensure you’re making the right choices for your personal situation. If you need help with relocating to Portugal, our team of experts can help. Infinite Solutions specializes in assistance with residency and property investment in Portugal. Get in touch to schedule a free 30-minute consultation. We pride ourselves in being part of the decision of more than 500 families making Portugal their new home!!! Link to schedule call on Calendly: