All traditional real estate agents represent the seller and are obligated by law to get the best price and terms for the seller. A buyer's agent works for the buyer and must legally and ethically work for the buyer's best interest. A buyer's agent will determine a negotiating strategy with you that utilizes the history of the subject property, comparable values, the sales price of other homes in the immediate neighborhood, as well as your wants and needs. National surveys have been done that show that buyers using buyer agents save on average 6 percent more than buyers using traditional agents. A good buyer's agent will also help you shop for the best mortgage loan and insurance programs.
Buyers love the level of service and savings realized.
A buyer's agent has the duties of loyalty, obedience, disclosure, confidentiality, reasonable care, diligence and accounting and a duty to use his or her expertise to help the buyer find suitable property and to acquire it at the most advantageous price and on terms suitable to the buyer. The buyer's agent also has a duty to disclose to the buyer any material information received from the seller, seller's agent or from any other source.