Why does a Buyer need to be Represented by a Realtor®?
Maybe I can best answer this question with an illustration that many people can relate to. Have you ever gone to buy a new or used car, and dreaded dealing with the salesman? I believe the reason for this discomfort is knowing that you do not know what the salesman knows. You're not sure that you are going to get a good deal. You also know that the salesman is interested in two key things: making a sale, and making money for his boss. He has a sales quota to meet. You probably think something like this, "I wish I had someone representing me in this deal!" I have been there and done that!
In recent years the process of buying and selling real estate in Austin and elsewhere in Texas has changed. Agents once represented sellers only, and the watchwords were "buyer beware!" In recent years the state has acted to provide some key protections to home buyers. The safeguards put into place include giving you the opportunity (it's your choice) to have a state-licensed real estate agent represent you in your purchase of a home or other real estate.
What does this mean for you? It means that you can have someone on your side in this major event in your life, whether you buy a new home from a builder or purchase a home for sale that was previously owned. You can choose to work with someone who will educate you and guide you through the home buying process, and who will keep your interests at the forefront of your home search and home purchase. Your agent will not know or be able to discover all that the seller knows (like his motivations for selling or financial status), but will work to find out as much as he can so you can make your best informed decision.
When you select a Realtor®, it is best to have a written buyer representation agreement that spells out the details of how you will work together.
Find out more on this topic on the Working with a Realtor® and Resources for Buyers pages on my Heart of Austin Homes website. Feel free to call me at 512.913.1557 or to email me with any questions. When you are ready to purchase a home, I would like to be on your side.
"Experience and Heart ... working together in Austin Real Estate for You!"
Jim Gilbert, REALTOR, Heart of Austin Homes
Licensed (#0536692) to sell Real Estate in the State of Texas