Home 
 

BUYER AGENCY

 
Prior to 1990 all real estate agents represented the seller of a property. Even the agent who was working with the buyer was considered an agent of the seller! In the early 90's, advocacy groups did a survey of homebuyers and discovered that 78% thought they had been represented by the agent that sold them the property. These advocacy groups informed homebuyers and homebuyers started demanding equal representation. Real estate brokers fought the introduction of Buyer Agency, but in the end the consumer won. The National Association of Realtors recently conducted a survey of homebuyers who had purchased a new home within the past five years. This survey discovered that 85% stated they would use a Buyers Agent on their next real estate purchase. It's only logical that buyers would choose to have an expert representing them on one of the most important transactions in their lifetime.
 
A buyer's agent has a number of duties to his clients. The buyer's agent:
  • find the available property that is the closest match to your requirements
  • provide you with a market analysis to help you determine a fair price
  • researches the area and the property to inform you of any problems that might be associated with the property. 

When a Realtor represents a seller, he/she is obligated to tell the seller anything that he/she can discover about the buyer. The buyer's agent's obligation lies with the buyer. Buyer agency is an agreement between you (the buyer) and the real estate agent that can last for one day to one year. To find an agent where you are relocating click here.