Boston Area Keep a Look Out for Your Buyer's Agent!

If you’re planning to buy your first home, congratulations! At this point you’re most likely figuring out your finances, and you’re beginning to do some preliminary browsing to see what the Boston real estate market has to offer. If you’re relocating from out of state and aren’t too familiar with Boston’s distinct neighborhoods, it can be extremely helpful to enlist the help of a local expert to assist you through the home buying process. As a Boston real estate agent, I find that many homebuyers don’t realize my services as a buyer’s agent are completely free. 

Usually there are two types of agency in a real estate transaction: Buyer agency and seller agency.  As a buyer, here’s what you can expect out of your buyer’s agent. 

Buyer’s Agent

• A buyer’s agent puts the buyer’s interests first. This includes evaluating the buyer’s needs and finding properties that fit their specifications, negotiating on the buyer’s behalf, attending the home inspection, and more.
• A buyer’s agent is hired by the buyer and paid by the seller in nearly all cases. A huge perk of hiring a buyer’s agent is that the buyer gets to benefit from the advice, loyalty, and guidance of a real estate professional without having to foot the bill.
• A buyer’s agent assists a buyer with opinion, strategy, and insight. A buyer’s agent really comes in handy when it comes down to determining the fair market value of the chosen property, crafting an offer strategy, and negotiating with the seller’s agent.

A seller’s agent, or listing agent, has responsibilities to uphold on the other end of the transaction.

Seller’s Agent

• A seller’s agent puts the seller’s interests first. When a seller lists his or her home for sale, they hire a listing agent to perform a competitive analysis, market the property, and negotiate on their behalf. 
• A seller’s agent is hired and paid by the seller. A seller will pay his or her agent a commission, which is documented in the listing agreement. The seller’s agent typically splits his or her commission with the buyer’s agent for bringing an interested buyer to the transaction.
• A seller’s agent can assist a buyer within constraints. The seller’s agent is required to give the buyer all material facts about a property (the good and the undesirable) so the buyer can make an informed decision.

Though a buyer’s agent and a seller’s agent represent opposite sides of a real estate transaction, they both have a legal and ethical responsibility to treat all parties fairly.

Now that we’ve established that you do not have to pay for a buyer’s agent to help you find a property, negotiate on your behalf, and assist you in securing financing for your new home, what are you waiting for? Contact me, a seasoned Boston real estate agent and I promise to keep your best interests in mind throughout the home buying process and beyond.

Ken Snyder
Keller Williams Realty Boston-Metro
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