Sharon Medairy, Real Estate Source 510-517-9969
Cell: 510.517.9969
License #: 01885305

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Benefit of a Buyers Agent

For most of us, buying a home is the biggest single investment we’re likely to make – and we’re only likely to do it maybe once or twice in a lifetime. The process is, by nature, filled with checks and balances – and many complex details. Traditionally, agents were legally obligated to protect the interests of the home seller. Today preferences are changing. Home buyers are choosing to have their own real estate agent, known as a buyer's agent, to legally represent them.  A huge bonus to the home buyer is that the commission for their buyer's agent is paid by the seller.

A buyer’s agent represents you, the buyer, not the seller, and has full fiduciary duties, including loyalty to you. By definition, the buyer’s agent has your best interests in mind throughout the transaction.  

Loyalty The real estate agent must act in the best interest of the buyer.

Disclosure All material facts such as relationships between agent and other parties, existence of other offers, status of earnest money, seller’s financial condition, property’s true worth, commission split with other brokers, and legal effect of important contract provisions.

Confidentiality Any discussions, facts, or information that should not be revealed to others but does not include responsibility of fairness and honesty in dealings with all parties.

Reasonable Skill and Care Arriving at a reasonable purchase price and advising the buyer of such, affirmatively discovering material facts and disclosing them to the buyer, investigating the material facts related to the sale. With a buyer agency, the interests of the home buyer will be represented in the purchase of the home. This scenario is different from a typical transaction where the buyer is not technically represented.