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Consider Hiring a Buyer's Agent


Low interest rates and higher inventories of homes for sale have turned many locales into buyer's markets. But rather than rush into the complex process alone, house-hunters should consider hiring their own agent.
Though fewer than 5 percent of agents represent buyers exclusively, Real Estate Buyers Agent Council executive director Janet Branton says buyers should take the time to find a professional who will provide them with the level of representation they desire.

Before hiring an agent, buyers should speak with several possible candidates. Also ask how many buyers the agent successfully helped in the past year and how much less than the listing price the buyers paid. Make sure the candidate has plenty of time to help, and then find out how many assistants are available to help if the agent is unavailable.

Clients also should receive disclosures as to who the agent is representing and how he/she will be compensated; and they should ensure that the agent will assist them before and during the closing process. The agent should take them through the home just before closing the deal to make sure all contract stipulations have been met.

Finally, buyers should make sure the agreement is in writing. Just in case the relationship is unsuccessful, they should ask agents for a service guarantee so that they are free to find another agent within a reasonable amount of time.

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Steven J. Porter
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