I’m constantly amazed by prospective homebuyers who are reluctant to work with an exclusive Buyer’s Agent during their home buying experience.  Given the advantages of the Buyer Agent relationship, at the very least, finding an agent you have confidence in should be your first step toward purchasing a new home. 

There is almost nothing to be gained by beginning the home search without an experienced, trusted agent who is working for you.  It leaves me wondering if sometimes prospective buyers don’t understand the benefits of working with a Buyer’s Agent.  Let’s consider a few of the pluses.

The biggest advantage to signing a Buyer Agency Agreement and working with a Buyer’s Agent is the peace of mind that comes from realizing – “my agent represents me and not the seller.”  Would you hire an attorney who also represents the other party? Would you hire an accountant who represents the IRS? Probably not. So, why would you work with an agent that legally represents only the seller? Without a Buyer’s Agent, you are working without any representation and no one to look out for your best interests.  It doesn’t make sense.

But the value of a professional Buyer’s Agent is more than just loyalty.  The listing agent is legally bound to represent the seller’s best interests – often translated as the highest price and best terms.  As a buyer, where does this leave you? Maybe paying too much for the property or falling short in some other area – overlooking problems with the property, agreeing to unfavorable terms and so on. Buyer Agents are legally bound to represent the buyer. That means he or she will work to get you the best possible price and terms.

You’ll also benefit from a Buyer’s Agent who is well organized with systems to help make your transaction process and transition as easy and convenient as possible. Their goal is to get to and through closing day with a minimum of hiccups – and that’s often the most challenging part.  This will require working closely with a trusted group of lenders, appraisers, inspectors and other professionals of high integrity. 

In addition, the best Buyer’s Agents will provide you with an unbiased look at the entire market and give no preferential treatment to showing their firms own listings. You can be sure that you will view the homes that best match your criteria no matter who is the listing agent.  They will also take time to provide information and educate you on the neighborhood and community. 

No matter how you slice it, in an overwhelming majority of transactions, there is nothing to be gained by attempting to purchase a home without Buyer Representation.

Originally posted January 18, 2009