When Buying a Property, a Designated Buyer's Agent is beneficial because...
- The Designated Buyer’s Agent has no employment agreement with the seller.
- The buyer becomes the Designated Buyer’s Agent’s client, and all obligations are to the buyer.
- The Designated Buyer’s Agent is ethically required to obtain the best possible price and terms for their client.
As a Designated Buyer’s Agent, we are responsible for providing expert knowledge and skills to represent the buyer, to locate property that is suitable to the buyer, to assess housing values and financing options and to help present and negotiate an offer that is in the best interest of the buyer.
As a Designated Buyer’s Agent, we place the buyer’s interest above those of all others. The buyer’s personal affairs are treated with confidentiality - similar to that between an attorney and a client.
As a Designated Buyer’s Agent, we keep the buyer informed of all information that could affect the transaction. We reveal known deficiencies of a property and any other provisions that may not be in the best interest of the buyer.
As a Designated Buyer’s Agent, we provide advice on selecting resources to conduct inspections, attorney services, surveyors and other pertinent services.
We care about our clients and work very hard to ensure that they are comfortable with their decision and our services. Our goal is to provide our clients with a pressure-free atmosphere and ensure a smooth transaction from contract to closing. We offer state-of-the-art services in every area, and never lose sight of the fact that our honesty, integrity, and professionalism are what set us apart from all others.
Responsibilities of a Buyer's Agent . . .
- Represents only the buyer in every part of the purchase process.
- Can show and negotiate unlisted properties and for-sale-by-owner properties.
- Can preview properties to ensure they meet the buyer's requirements.
- Researches the property and the market conditions, and provides an honest analysis of each property, including good and bad points.
- Professionally presents and negotiates the offer to purchase.
- Can coordinate, for the buyer, all the steps necessary to complete the purchase, including mortgage services, home inspectors and survey.
- Monitors performance of the transaction to ensure all services are promptly and professionally rendered.
- Reviews all documents for accuracy.
- Accompanies buyer to closing to verify that all terms and conditions of the purchase agreement are met.
How Does a Buyer's Broker Get Paid?
The Designated Buyer's Agent is generally paid from the transaction commission. A listing broker generally agrees to pay a "co-operating" fee to any broker who obtains a buyer for the seller's property, and this is the fee that the Designated Buyers Agent receives. Most owners of unlisted properties and for-sale-by-owners are also willing to participate in a fee structure, simply for the sake of having a professional involved.