Here are frequently asked questions about buyer representation.

IF AN AGENT IS WORKING WITH ME, DOESN’T IT MEAN THEY’RE WORKING IN MY INTEREST?

Not unless you have a contract with them. It’s important to remember that a real estate agent always represents someone’s interest. That someone is the party with whom there is a contract. So, unless an agent you’re working with has a contract with you, the buyer, no matter how friendly you become, his/her loyalty and fiduciary responsibilities actually is to the only party with whom there is a contract – the seller. This means that this agent cannot truly advise you on price, market conditions, or any other information if that advice could adversely effect the seller, even if they’ve never met them!

With Buyer Representation, an agent signs a contract with you, the buyer. You are the client. The agent owes their fiduciary responsibility and loyalty to you. They must put your interest first and negotiate for the best price and terms for you.

WHAT ARE THE ADVANTAGES TO THE BUYER?

With the traditional relationship, agents are required to treat you with honesty and fairness, to assist you in selecting a property and to disclose to you any known material defects in properties that they show you. But ethically, since they may be the seller’s sub-agent, they should tell you not to say anything to them that you would not say directly to the seller. They are limited in the services they can provide for you due to their contractual obligation to the seller. However, when an agent is working as your Buyer Agent, they give you their loyalty and confidentiality. They are working in your interest so you can totally level with them. They become a true teammate advisor and professional consultant throughout the entire process.

WHAT ARE THE DISADVANTAGES TO THE BUYER?

None. As your agent, the Buyer Agent is working for your interest. But, just as a seller sells through his/her agent even if he finds his/her own buyer, you as a buyer client, must buy your home through your agent during the time the contract covers, even if you find a property on your own.

WHAT’S THE DIFFERENCE BETWEEN DUAL AGENCY AND BEING A DUAL AGENT?

Dual agency means that at any time, in a given transaction, a real estate company (an agency) may have one agent who represents the seller and another agent who represents the buyer. A Dual Agent, however, is an agent who tries to represent both sides at the same time -- tricky.

IS IT IN THE SELLER’S INTEREST TO WORK WITH BUYER AGENTS?

Absolutely. Working with Buyer Agents provides the home seller with maximum exposure of their home, highly motivated and qualified buyers and no liability for a sub-agent’s actions or misrepresentations to the buyer.

BUT MAYBE I COULD GET A BETTER DEAL IF I WENT STRAIGHT TO THE LISTING AGENT!

Nope. Remember, the listing agent works for the seller. When an agent gets both sides of the sale (often called double-ending), the extra commission dollars go to that agent. In no way can the listing agent "cut you a deal" since their fiduciary responsibility is always to the seller.

WILL IT COST ME EXTRA TO HAVE MY OWN REPRESENTATION AS A BUYER?

Usually no. Although signing a buyer contract makes you, the buyer, responsible for your agent’s fee, this fee (as well as that of the listing agent) comes out of the proceeds of the sale. With experience and good understanding of how fees are paid and solid negotiating, you should never have to pay extra to have your own representation.

WHAT SHOULD I LOOK FOR IN A BUYER AGENT?