A Buyer’s Agent. What? Who? Why do I need one of those? I’ll just wing it on my own; it’ll save me money.

Ack! Where to start…

1.   A Buyer’s Agent is the realtor in a transaction that represents the interest of the Buyer. He/she works for no one else. Their sole purpose in life is to get you the best deal on the house you want. Period. If they do the job well, they hope that you will give them a call in 5-10 years when you buy the next one.

2.   You can find a Buyer’s Agent at an open house. If you click, great. Keep in mind that open houses are usually worked by newbie agents. An experienced Buyer’s Agent has a list of clients (and those client’s  friends and families). In fact, a better place to find a Buyer’s Agent is to ask your friends and family if they liked their Buyer’s Agent.

3.   So many things can go wrong when you buy a house, especially in today’s economy. It cannot be stressed enough how much you need an Agent to represent your best interests. Think of it this way: you may think they make a lot of money for little work BUT if something goes wrong and they save your butt, they are worth 10x that commission.

4.   The commission is set at 6% or 7% or whatever on the house you are buying. It all comes out of the Seller’s profit. You do not pay one red cent of it. If you choose not to hire a Buyer’s Agent, the Seller’s Agent gets paid twice as much. Lucky them! Hire a Buyer’s Agent and get your money’s worth.