Why You Need A Buyer's Agent
I offer buyer agency at no cost to the buyer!
In the state of North Carolina unless you establish a buyer's agency agreement with an agent when inquiring about or viewing property for sale the agent will be acting as an agent for the seller or subagent of the seller. This means the agent will be trying to obtain the best price and terms for the seller also the agent cannot legally advise you as to what to offer and cannot keep any personal information confidential.
Simply put: Every buyer purchasing in the state of North Carolina needs a buyer's agent to represent them. You do not have to pay me as a buyer's agent for my services, I will be compensated by the commission the seller pays at closing.
When buying real estate, you may have several choices as to how you want a real estate firm and its agents to work with you. For example, you may want them to represent only you (as a buyer's agent). You may be willing for them to represent both you and the seller at the same time (as a dual agent). Or you may agree to let them represent only the seller (seller's agent or subagent). Some agents will offer you a choice of these services. Others may not.
Buyer's Agent
Duties to Buyer:
If the real estate firm and its agents represent you, they must
promote your best interests
be loyal to you
follow your lawful instructions
provide you with all material facts that could influence your decisions
use reasonable skill, care and diligence, and
account for all monies they handle for you.
Once you have agreed (either orally or in writing) for the firm and its agents to be your buyer's agent, they may not give any confidential information about you to sellers or their agents without your permission so long as they represent you. But until you make this agreement with your buyer's agent, you should avoid telling the agent anything you would not want a seller to know.
Unwritten Agreements:
To make sure that you and the real estate firm have a clear understanding of what your relationship will be and what the firm will do for you, you may want to have a written agreement. However, some firms may be willing to represent and assist you for a time as a buyer's agent without a written agreement. But if you decide to make an offer to purchase a particular property, the agent must obtain a written agency agreement. If you do not sign it, the agent can no longer represent and assist you and is no longer required to keep information about you confidential. Furthermore, if you later purchase the property through an agent with another firm, the agent who first showed you the property may seek compensation from the other firm.
Be sure to read and understand any agency agreement before you sign it.
Services and Compensation:
Whether you have a written or unwritten agreement, a buyer's agent will perform a number of services for you. These may include helping you
find a suitable property
arrange financing
learn more about the property and
other-wise promote your best interests.
If you have a written agency agreement, the agent can also help you prepare and submit a written offer to the seller.
For more information contact:
John Abshire
Broker / Realtor, ALHS
Accredited Luxury Home Specialist
Beverly Hanks & Associates
Ph: 828-699-4894
