What is a Buyer's Agent?

The Buyer Broker concept first began in Alabama Real Estate in the late 1980's. Until that time, residential real estate featured only two types of agents, the listing agent who lists properties and the sub-agent who sells another agent's listing. Both of these agents was obligated by the law to act in the seller's best interest by negotiating the highest price and best terms possible. Since most buyers thought the sub-agent was working for them, Alabama passed new Real Estate laws requiring all agents to disclose in writing who they are really representing. Due to these disclosures, many buyers are now becoming more interested and turning to another alternative known as Buyer's Agency. A Buyer's Agent represents your best interests as a purchaser.

What is the difference?
(The difference is significant!)

Saving: A buyer's agent will always negotiate the best price and terms possible for you, the buyer. The buyer's agent will also disclose to you any known information about the seller concerning an urgency to sell a property.

 

Time: Most agents have a large inventory of listings which they are obliged to show first. The buyer's agent will sit down with you and determine what type of home best suits your needs, then search the computer (database) and listing books to locate only the homes that meet your criteria.

 

Confidentiality: Any facts known about you that could hurt your negotiating position will be kept confidential. On the other hand, when working with a sub-agent, all facts about you (including how much you can spend) must, by law, be divulged to the seller.

 

Representation: From negotiations through closing, a buyer's agent always looks out for the buyer's best interest.

 

Protection: Most real estate contracts are written to protect the seller while our contracts are designed to protect the purchaser.

 

Information: A buyer's agent can give the purchaser all the information about the property including how much the seller paid and for what all the other homes in the neighborhood sold.

 

Loyalty: With a true buyer's agent, you will always know your agent's loyalty is to you.

 

Peace in mind: Selecting a buyer's agent means any known facts which could adversely affect the value of a property will be disclosed to the purchaser.