How is a Buyer's Agent different?
Thursday, March 3, 2011 at 11:18AM 
The difference is that an Exclusive Buyer's Agent works only with buyers and doesn't take listings. Many agents take listings and work with sellers, and they also work with buyers sometimes as a buyer agent. The problem with doing both is that there might be a conflict of interest when the buyer is interested in one of the agent's listings, or even a listing of the agent's company. Then the agent could find herself representing both the seller and the buyer -- this is called dual agency and although it's lawful with full disclosure to both parties, it's difficult for the agent to serve two masters.
The Exclusive Buyer's Agent avoids this conflict by never taking listings. The word "exclusive" simply means our company doesn't represent sellers -- doesn't list homes.
A Buyer's Agent can devote all of his/her time and energy and expertise representing buyers and becoming good at doing one thing. But how does this benefit the buyer?
As buying and selling real estate changes, it's becoming increasingly important for buyers to have representation. The market is mixed all across the country and given the trend of the last ten years or so of baby boomers moving to greener pastures, it’s more important than ever to get good, reliable information on the buying side, especially in areas with which you are unfamiliar.
The amount of research necessary to really understand the real estate market in a new area of the country is time-consuming and confusing unless you can rely on a local expert to sift through and analyze the information using the buyer agent's specialized knowledge of the area.
An experienced, knowledgeable Buyer's Agent is critical to making the process smooth and efficient. In Savannah, Ga there are many home-buying choices as I have mentioned in previous blog posts, and even here the market is mixed. There are some areas of Savannah that are doing quite well and other areas where the market has slowed significantly. There are also more housing options becoming available constantly, from the countryside outside of Savannah, to the waterfront opportunities around Savannah and Richmond Hill, to the possible new development east of downtown Savannah along the Savannah River.
Services, shopping, dining and entertainment are also undergoing changes in places around Savannah that have slowly begun to grow and transform. It is a painfully irritating process to go from listing agent to listing agent looking at house after house as you slog through the elimination stage of home-searching.
A Buyer Agent who knows the whole market can simplify this process, and because the Buyer Agent is representing YOU, the buyer, the information will be delivered with objectivity and your interests in mind rather than with a particular sale in mind. The Buyer's Agent has no preference of a home except the home that is right for the client, the buyer.
One of the main benefits of using a Buyer's Agent in today’s real estate market is putting together a smartly structured offer. Putting together an offer is more than throwing out a price. Financing is becoming more and more important to sellers who watch deal after deal wither away because financing has become tighter and less reliable. Doing all the work upfront on what type of offer needs to be structured to get the best deal possible is becoming more critical. A seller may take less money for a home if the offer is tight and strong without a lot of shaky contingencies. A Buyer's Agent can help put together a strong offer that will help you get the lowest possible price with the best terms.
I have been preaching Buyer Agency since 1996. Take my advice – get a Buyer's Agent to help you buy a home. I would love to represent you, if you choose my company.
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