Real Estate Word of the Day: What is a Buyer's Agent?

Buying a home is not an every day event. The average person purchases real estate once every eight years .Whether you are a first time buyer or someone who hasn’t purchased a home for several years, sometimes a refresher on real estate terms can be very helpful. I often notice my Minneapolis/St Paul buyers (and sellers) with a glazed look on their face when certain terms come up so I thought an online real estate glossary would be helpful. The real estate term for today is:

Buyer’s Agent An individual contracted by the buyers to represent them in the purchase of their home.

When buying a house, the home is listed by a broker or company. The REALTOR® that lists the home is the listing agent for the home and is under contract with fiduciary duties to the seller. When a buyer calls on a sign or enters an open house, the information they provide is shared with the seller because the listing agent is required to disclose all information to their client.

A buyer can have their own representation when purchasing a home. They do not have to work with the listing agent. In fact, almost all of the home buyers I have worked with prefer to have their own agent working on their behalf. If a buyer signs a contract to work exclusively with a specific REALTOR® that agent will work on behalf of the buyer to get the best deal while keeping all their client's private information confidential. As a buyer’s agent, I can show my clients any listed home in the Twin Cities metro. Best of all, it doesn’t cost anything additional to retain your own real estate agent when purchasing  because the fee is paid for by the seller of the home with a shared commission.

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READY to Make YOUR Move? It IS essential to have a knowledgeable agent at your side. If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me, Teri Eckholm of BOARDMAN Realty, a call at 651-336-7073 or visit my website for a FREE Home Buyer Success Guide or FREE Home Value Report. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
 
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