If a home buyer does not work with a Buyer’s Agent, there are significant disadvantages. In Texas, an agent is technically a subagent of the seller unless the buyer has signed a Buyer’s Representative Agreement with a Buyer’s Agent. The following are some of the advantages of working with a Buyer’s Agent rather than a subagent:
| Loyalties and Services Provided by |
Buyer's Agent |
Subagent |
| Arrange property showings |
Yes |
Yes |
| Assist with financing |
Yes |
Yes |
| Provide accurate information |
Yes |
Yes |
| Monitor closing schedule and activities |
Yes |
Yes |
| Be willing to show other homes |
Yes |
No |
| Provide advice and counsel |
Yes |
No |
| Keep your position confidential |
Yes |
No |
|
Evaluate property with no obligation to seller |
Yes |
No |
| Share information that may enhance your negotiating power |
Yes |
No |
| Discuss confidential information about the property |
Yes |
No |
| Prepare offer that is advantageous to buyer |
Yes |
No |
| Give you reasons not to buy |
Yes |
No |
| Suggest alternatives to meet your needs |
Yes |
No |
| Prepare and interpret market analysis of properties |
Yes |
No |
The final thing to understand is that working with a Buyer's Agent usually won't cost anything because sellers usually pay the commissions. If you are hesitant to sign a Buyer's Representation Agreement, consider signing one just for a day or a week or for certain properties shown to you. After you have some experience with the agent you may feel more comfortable about extending the agreement.
I want to thank Myrtle Beach real estate agent Darren Woodard for reviewing this information for me.
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