Buyer Agent Tips

If you’re buying a home and plan on using an agent, there are several steps to follow to ensure you’re making good decisions. (For more, see: Finding a Good Real Estate Agent.)

• Shop around for the agent with the best reputation. Paying a premium for someone who can get you the best deal can save you thousands of dollars or more.
• Negotiate commissions. The only exception to this rule is if you’re working with a top-tier agent which would make full commission justifiable because that agent will save you money.
• Don’t reveal to the agent what you’re willing to pay for a home while offering a much lower amount to the seller. The agent might use this information to his advantage if he’s more concerned with his commission.
•  the web site for the National Association of Exclusive Buyer Agents. This site will help you find buyer agents who have no ties to seller agents. This is also a good way to find a buyer agent who works on a fee structure as opposed to commissions.
• Be wary of inspector lists provided by buyer agents. The buyer agent and inspectors on that list might have a mutual interest that doesn’t benefit you – it's possible that the inspector won’t disclose the real damages to the home because the buyer agent wants the commission when you buy the home and the inspector wants repeat business from the buyer agent. (For more, see: What Real Estate Agents Don't Want You to Know.)