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Frequently Asked Home Buyer Questions

Commonly Asked Questions About Buyer Agents and Our Real Estate Services

1. What is a buyer agent or buyer broker?

Read Buyers Brokers Only's Frequently Asked Questions About Buyer Agents and Our ServicesA buyer agent or buyer broker (sometimes called a buyer agency or a buyer's agent) represents the buyer in a real estate transaction. Buyer agency is defined as a principal-agent relationship in which the broker is the agent for a buyer, with fiduciary responsibilities to the buyer. What does that mean? It means a buyer agent is tied to the buyer, and all of that agent's loyalties are to the buyer. This is especially true if your buyer agent is an exclusive buyer agent.

The seller's agent, or the listing agent, represents the seller, not the buyer, and the listing agent's loyalties are to the seller. They must tell the seller anything you tell them, even if it hurts your negotiating position. For obvious reasons, you should never give a listing agent any information you wouldn't want a seller to know about you. Even information that may seem trivial could provide a seller with an unexpected advantage during negotiations.

Although a buyer agent's benefits are obvious, many individuals still do not know they can have their own real estate agent look out for their best interests. Learn more about exclusive buyer agents.

2. Why do I need a buyer agent? 

Simply put, there isn't any good reason not to have a buyer agent represent you, and there are many important reasons to have a buyer agent represent you, especially if that buyer agent is an exclusive buyer agent.

A buyer's agent represents the buyer, not the seller, and looks out for your best interest. Buyer agents have a duty to get the best deal for their buyer client(s).

A buyer's agent will also pass along any information about the seller or the property to help you, the homebuyer, make an intelligent decision and get the best deal possible.

An exclusive buyer agent has no interest in any particular property, so the buyer agent will provide you with objective advice with no exceptions. A buyer agent will spot potential home problems or material defects. The seller's agent will not point out deficiencies in the home to a home buyer.

The media and consumer advocates have encouraged home buyers to use an exclusive buyer agent or buyer broker for many years. Learn more.

3. What is the difference between a designated buyer agent and an exclusive buyer agent? 

Unless your buyer agent is an exclusive buyer agent, your buyer agent is likely a designated buyer agent. In other words, most buyer agents work at real estate firms that also represent sellers, so although your agent may be working as your buyer agent, every other agent in that firm could be working against you.

With an exclusive buyer agent real estate firm, every real estate agent at the firm has the same relationship with the homebuyer as the agent working with that homebuyer. Everyone is working for you and only you.

Read more about the difference between designated and exclusive buyer agents.

4. Can the seller's agent represent me?

Although possibly helpful in other areas of the home-buying process, a seller's agent cannot be your advocate or counsel you about a property's value or negotiation strategy because they work for the seller. In addition, if you work with a seller's agent, they must disclose anything they know about you or your circumstances that would give the seller a competitive advantage or affect their decision-making.

The only way to ensure absolute loyalty is to work with your own exclusive buyer agent. Buyers Brokers Only, LLC exclusively represents home buyers and individuals buying investment property. We never list homes for sale, avoiding conflicts of interest common at traditional real estate brokerages.

5. What is Dual Agency?

Dual Agency is when a real estate agent represents the buyer and the seller in the same transaction. Unlike the legal field, many states, including Massachusetts, New Hampshire, and Rhode Island, still allow this practice in real estate transactions. The conflicts of interest are apparent when an agent has one client negotiating against another. In such a case, the agent's fiduciary duty is limited to both parties.

According to the Massachusetts Board of Registration, "a dual agent cannot satisfy fully the duties of loyalty, full disclosure, obedience to lawful instructions which is required of an exclusive seller or buyer agent."

6. How much do Buyers Brokers Only's services cost?

The listing office offers the buyer agent's office a cooperating commission for most transactions. In most cases, the cooperating commission will cover the Buyers Brokers Only fee. You should discuss fees with your buyer agent and refer to our terms of service.

7. Can I book a consultation with a buyer agent?

Absolutely. We will schedule a free online consultation, phone call, or in-person meeting to discuss your home search, the current real estate market, and our exclusive buyer agent services.

8. If I decide to purchase a for sale by owner (FSBO) home, will Buyers Brokers Only, LLC still represent me?

Yes. Buyers Brokers Only, LLC will assist you in purchasing a home for sale by the owner. Contact us for more information. It's essential to have guidance with FSBO properties because, in our experience, many FSBO homes are overpriced.

9. Does it cost more to purchase a home for sale by the owner (FSBO)?

No. Similar to when the listing office offers the buyer agent's office a cooperating commission, the homeowner will do the same for most transactions. If not, your buyer agent may be able to negotiate a commission with the seller. You should discuss FSBO properties with your buyer agent and refer to our terms of service.

10. Will Buyers Brokers Only, LLC help me negotiate the sales price? 

That's our favorite part. Besides having access to a great deal of information on home prices and sales data, we will research comparable home sales when you find a home you're interested in making an offer on. We only represent your best interest because we work as your exclusive buyer agent.

It is a good idea to design a strategy for negotiation with sellers and their agents before you make an offer to purchase. It's critical to know your spending limits and avoid being swept away by pressure from seller agents or competition with other buyers.

11. Will Buyers Brokers Only, LLC review the purchase and sale agreement and make any necessary changes to benefit me?

No. Buyers Brokers Only is not a law firm; however, we feel strongly about having your own real estate attorney. We work with many experienced real estate attorneys and would be happy to make a recommendation.

12. Who are the agents at Buyers Brokers Only, LLC? 

Please review the "about us" page to learn about Buyers Brokers Only. In addition, learn about our exclusive buyer agents.

13. Can Buyers Brokers Only, LLC help me sell my home? 

No. Buyers Brokers Only exclusively represents home buyers of residential and investment real estate in Massachusetts, New Hampshire, and Rhode Island; however, we are more than happy to make a referral to a competent seller's agent (commonly referred to as a listing agent) in your area.

In addition, if you are selling your home and plan to buy another home in Massachusetts, New Hampshire, or Rhode Island, we can represent you regarding purchasing your new home. You do not have to use the agent selling your home as your buyer agent. Call or text us at 978-835-5906 or use our contact form for a free, no-obligation consultation regarding our exclusive buyer agent services and referral to a listing agent for the sale of your home.

Even if you already have an agent listing your home for sale, we can still provide buyer agent services to help you purchase your next home, as long as you're not already working with a buyer agent. Free consultation.

14. Can you refer me to a home inspector? 

Yes, we can provide a list of competent home inspectors we recommend, and we also will provide you with a complete list of Massachusetts-licensed home inspectors. The information typically is included in the home inspection information we provide to our clients after an offer is accepted, but we are happy to share it anytime.

15. Can you refer me to a mortgage loan officer?

Yes, we can suggest a reputable mortgage professional who can pre-approve you for a home loan for free.

16. Do you have a Web site privacy policy?

Yes. We encourage you to read our privacy policy.

17. Is there anything else I should read on this Web site?

Yes. We strongly suggest you read our disclaimer and terms of service.

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Client: Kailee C. 
"I really valued the level of professionalism and reliability that [he] consistently maintained. Further, I appreciated the timely manner in which he responded to my questions ..."

Client: Oksana P. 
"No pressure approach made the process much easier ... in spite of an aggressive moving timeline." 

Client: Geneva R. 
"The service Buyers Brokers Only, LLC provided was truly invaluable to us in finding our first home. We couldn't be happier!"

Client: Mark V. & Laura V. 
"It was an absolute pleasure to work with ... Buyers Brokers Only, LLC. There is absolutely no reason to use anyone else."

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