When buying a home, should YOU have representation?

In the State of Texas a real estate agent can represent either the buyer as a buyer’s agent, the seller as a seller’s agent or with permission of both parties can act as an intermediary. I’m going to be talking only about YOU as a buyer.
Here are some of the benefits to YOU in having a buyer’s agent! These are legal issues that a buyer’s agent is bound by.

• The agent will have a fiduciary responsibility to YOU. Your interest will be held above anyone else’s in the transaction.
• Loyalty only to YOU, fairness to all parties.
• Anything you tell YOUR buyers agent in confidence will remain confidential forever.
• Anything that the buyer’s agent learns about a seller’s motive for selling or that would be germane to YOUR decision in what YOU might offer, or if YOU will even make an offer has to be disclosed to YOU.

There should be NO COST TO YOU in having an agent represent YOU. The El Paso real estate market will be easier to navigate with the help of a buyer’s agent, so provided YOU feel that the agent is a good fit with YOU and they understand YOUR particular needs, desires and time table for purchasing, my recommendation is have the benefit of representation.

When an agent represents YOU they anticipate that YOU will sign a representation agreement that states YOU will be loyal and work with them exclusively. What if after a couple of hours, or days, YOU realize this isn’t the right agent? (The agent can also come to this conclusion about a buyer and in that case the agent is probably going to fire themselves, while rare, this could happen.) YOU have a safety net in that if YOU selected an agent that is a confident, knowledgeable professional, they should add verbiage to the buyer’s representation agreement stating, “That if for any reason YOU are not satisfied with their service you can cancel the agreement”. At this point YOU both have an out of the agreement. If they are not willing to do this perhaps YOU do not have the right agent.

Let’s talk about the additional services that you should expect when YOU are being represented.

• The agent is working on your behalf and should demonstrate that they understand it is YOUR hard earned money that is at risk.
• The agent will make YOU aware of the properties that meet YOUR stated criteria after listening to all your needs.
• The agent will encourage YOU to ask questions and assure YOU there are no dumb real estate questions.
• The agent will walk YOU through the entire buying process to ensure that YOU understand each step and the potential hazards at each juncture. The agent will explain what they will be doing to ensure that it is a seamless transaction.
• The agent will have an “A” team, consisting of coming together to make your closing happen and on time. The agent develops trust and confidence in their team through their experience with many prior successful transactions.
• Helping you understand the El Paso real estate market is one of the critical responsibilities of a buyer’s agent.
• The agent will attend the closing with you and will have secured the closing documents, or at least the closing statement, before closing, thereby insuring there are no surprises at the closing table.
• Bottom line ordinary service is what you should always expect, extraordinary service, is what a good buyers agent brings to the table. Positive experiences that you did not expect. It is the subtle details that make closings flow seamlessly, effortlessly and smoothly.

Remember that every agent and agency is going to adhere to their legal responsibilities. Where you need to be selective is in those extras…the “extraordinary” services!