Buyer's agency

A buyer's real estate agent must act as your agent which means he or she must put your interests ahead of their own and anyone else's involved in the transaction. No one else in the transaction is committed to your interests in this way. The only one close is the escrow officer who has to be fair to all parties. But everyone else is usually out to maximize their profit or their company's.

True, your real-estate agent is getting a commission and the higher the price, the larger the commission. But who pays for the agent's commissions? Most all of the time the seller does. The commission rate is set by the seller when the property is put up for sale, at that time the amount that will go to the seller's agent and the buyer's agent is set. Rarely, do you the buyer, pay commissions to a real-estate agent.

Some benefits of buyer’s agency:

Beware that an agent can legally represent the buyer and the seller but they must disclose this to the buyer and the seller and have their permission to do so. When this occurs the agent is called a dual agent. This isn't necessarily bad, but it implies a very high level of trust by the seller and the buyer toward the agent, since the agent must act fairly toward both parties.

Agency is confusing to many, so contact me if your are still unsure about it. I'll also be happy to sent you the agency disclosure pamphlet.