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Best Interests of the Buyer |
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Who represents the homebuyer in the transaction? The
most common scenario is for homebuyers to purchase a home with the help
of the seller's listing agent. In this case, known as "dual agent
representation," the real estate agent assists both the sellers and the
buyers. However, it is also possible for the buyers to ask another
realtor to represent their interests exclusively, acting as the
"buyer's agent," a service which is available at no additional cost to
the homebuyer.
Any licensed real estate agent can act as your buyer's agent, helping
you to locate and look at properties in your price range. However, if
that real estate agent works for the same brokerage that is listing a
particular property, dual agency or designated agent rules will then
apply. The buyer's agent will advise the buyer if issues arise such as
termite damage or significant material defects appearing on the home
inspection report. If the home appraisal comes in at less than the
asking price, the agent will represent the buyer's interest, working
with the seller and the lender to negotiate a satisfactory resolution.
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