I Want to Buy a House but Who’s Going to Pay My Agent

You want to buy a home and quite possibly have already started the process but wait don’t forget to take care of your agent’s fees.  At this moment, if you’re like most people, you’re probably a bit jarred as to what this means to you.  The agent who takes the time and dedicates hours and sometimes months to finding the perfect home for you, must be paid but is it your responsibility?

First, let’s be clear in that several buyers are somewhat fogged about the manner in which their agents are paid.  There is a common belief that agents are paid by the companies they work for.  While this has an extent of truth to it, it’s not where the money actually comes from.  In fact, let’s clear this misconception before we go any further.  The buyer’s agent is paid by the seller.

This indeed is good to know but there is more to it than just that.  First and foremost, it’s impossible to pay the buyer’s agent if the buyer doesn’t secure one.  Because there is no execution of payment from the buyer as a promise of exclusive services from the agent, how does the agent know you’ll commit to make your final purchase through them?

A buyer-broker agreement acts as a tool of security for the buyer as well as the agent.  A lack of understanding of what this agreement does for the buyer can often cause buyers to question it.  The buyer’s agent works hard to find the home that fits your needs.  Signing this agreement only indicates your intent to purchase with the agent indicated on the agreement.  It’s only fair that the agent has the security of knowing they’ll be paid for their services. In return the buyer is reassured that their agent will work diligently to find them a home in order to be paid.

When the decision is made to place a home on the market for sale, people have one thought in mind.  They think to themselves, “I want to sell my home.” This initiates an agreement that grants payment to the agent that brings them a buyer.  As a buyer, use an agent that has your best interest in mind.  It is essential that you stick with them because choosing to purchase through one other than indicated on the agreement, will require you to pay the required agent commission.  Therefore, committing to the buyer-broker agreement actually saves money on your new home purchase.  Who wouldn’t want to save money?

 

Needing a buyer’s agent in Tucson, Arizona for the purchase of your new home? Contact me today to help find your dream home.

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