Benefits of using a Buyer's Agent

Buying a home is a HUGE decision. You'll need the RIGHT person to represent you.

Real estate transactions can be complex with many details to be handled. Depending on your arrangement with a licensed real estate agent, that agent might actually be negotiating for the Seller, not you the Buyer. After much confusion of "who represented who" in transactions, REALTORS® in 1994 helped change agency laws to provide for buyer agency in Texas. This ensures that the Buyer has representation on their side and their agent has no fiduciary duties to the seller. Texas Agency Disclosure

The best part about Buyer Representation is that it is FREE to the buyer.

Commissions are paid to the listing agent by the Seller. Members of the Greater McAllen Association of REALTORS® have agreements allowing the listing agents to offer compensation to buyers' agents that bring a buyer to the specific property listed. If you choose to buy a new home, the builder pays for your representation, not you. This doesn't increase the price of the home nor would you get a better deal on the new home if you did not have buyer representation. The only thing it affects is the builder's bottom line. However, builders are very willing and greatly appreciative to REALTORS® who bring them buyers.

To be certain that an agent is working in your best interests, sign a buyer representation agreement with your agent. The Broker/Agent becomes the Buyer's Agent by entering into an written agreement to represent the buyer.

What is a Buyer Representative?

Real estate buyer's representative represents the buyer who is purchasing property in a real estate transaction. They work for and owes fiduciary responsibilities to the real estate buyer and has the buyer's best interests in mind throughout the entire real estate process. A buyer's representative will:

• Evaluate the specific needs and wants of the buyer and locate properties that fit those specifications.
• Assist the buyer in determining the amount that they can afford (pre-qualify), and show properties in that price range and locale.
• Assist in viewing properties -- accompany the buyer on the showings, or preview the properties on behalf of the buyer to insure that the identified specifications are met.
• Research the selected properties to identify any problems or issues to help the buyer make an informed decision prior to making an offer to purchase the property.
• Advise the buyer on structuring an appropriate offer to purchase the selected property.
• Present the offer to the seller's agent and the seller on the buyer's behalf.
• Negotiate on behalf of the buyer to help obtain the identified property -- keeping the buyer's best interests in mind.
• Assist in securing appropriate financing for the selected property.
• Provide a list of potential qualified vendors (e.g. movers, attorneys, carpenters, etc.) if these services are needed.
• Most importantly, fully-represent the buyer throughout the real estate transaction.

The Buyer Representation Agreement

It is important for the buyer to discuss the buyer's representative's compensation in the initial interview. In many cases it is recommended that the buyer and the buyer's representative agree to the terms of compensation prior to viewing properties, and sign a written agreement based on those terms. The agreement should spell out the responsibilities of both parties throughout the real estate process.