Advantages to using a buyer’s agent? Countless. List of duties your buyer’s agent should perform? Endless. So why should buyers use an agent?
About 6 months ago I closed on a listing of mine. What started off as great transaction, ended in much difficulty. The buyer’s who offered on the home were working alone. Big mistake! First, they believed the sellers would accept an offer much lower than asking because they would not have to pay a buyer’s agent. Wrong! Commission is paid out whether you have a buyer’s agent or not. But, that is for another time, another story. Since they were not represented, it was my responsibility to mediate this entire transaction. Buyers were upset they didn’t get closing costs, correct inspections or remedies and possession of the home at the date and time they wanted. Why? Because the did not have an agent. The buyers weren’t taught to read through a Real Estate contract properly and cross their t’s and dot their i’s. Parts of the contract were filled in incorrectly and others were just left completely blank. Yet, they signed off on those documents. Had they been represented by a licensed Realtor, they could have avoided this entire mess. Sellers decided it was their own mistake for going unrepresented and refused to budge and help the buyers on any remedies or monies towards the home.
Most of my transactions are customarily done with buyer and seller present. This was one transaction where they needed to be seperated in order to see it close properly. Bottom line? Had the buyers chose to use an agent, we could have had a smooth transaction from start to finish. I negotiated properly and hard on my client’s behalf. We made decisions together that I knew would benefit my client. The buyer’s had no one in their corner and in this transaction, they fell a little short.