Published
Editor's note: In March 2024, the National Association of Realtors (NAR) lost an antitrust lawsuit, leading to changes in real estate fees nationwide. As of August 17, 2024, buyer's agent commissions are no longer covered by the seller and must be negotiated separately.
What a buyer’s agent does | Best ways to find a buyer’s agent | How to choose an agent
Buying a home is one of the biggest financial decisions to consider in your lifetime. Finding the right buyer’s agent greatly helps optimize the home-buying process.
A buyer’s agent represents your interests and negotiates the best deal on your behalf. You benefit whether you’re a first-time homebuyer or a current homeowner ready to find a new home.
We discuss good ways to find a buyer’s agent and other tips to ensure you find the right realtor to help your housing search go smoothly.
» Compare top agents in your area to find the perfect fit. Get cash back savings when you buy.
What does a buyer’s agent even do?
A buyer’s agent solely represents you and guides you through the home-buying process, while a listing agent represents sellers.
Sometimes, a buyer and seller are represented by the same agent, called a dual agency. This can bring up a conflict of interest, since it’s impossible for the agent to provide fair representation to both parties.
Dual agents also benefit financially by earning both the listing agent and buyer agent commission. The real estate agent has a financial incentive to sell the home for as much as possible rather than negotiating a lower price on your behalf.
A buyer’s agent eliminates conflict of interest and takes on the following key responsibilities to ensure you find the right home at the best price.
1. Sets up a home search
A good buyer’s agent prioritizes finding homes that match your housing preferences and budget.
Josh Steppling, a broker associate with Treasure Coast MLS Search, echoes this sentiment. “The best buyer’s agents pay close attention to available homes and how they meet their client’s needs,” he says.
2. Schedules and coordinates home showings
Setting up showings and visiting homes is a time-consuming task. A buyer’s agent gets in touch with each home’s listing agent, and coordinates a schedule of home showings.
3. Negotiates with sellers and listing agents
One of the most important benefits of using a buyer’s agent is that they help in the negotiation process.
“Once the buyer has found a property they’re interested in, it is the buyer’s agent’s responsibility to help them negotiate a fair price with the seller,” says Jennifer Spinelli, founder and CEO of Watson Buys.
“This includes working with the buyer to come up with an initial offer, counteroffer, and ultimately, a purchase agreement acceptable to both parties,” she says.
4. Coordinates inspections
A home inspection is an important part of the buying and negotiation process because it can impact the home’s final sale price.
A buyer’s agent coordinates this process for you, helping you find a good home inspector, set up the inspection, and read through the inspection report.
5. Refers you to contractors
A buyer’s agent can refer you to local contractors with whom they have connections, saving you time finding the right contractor to fix any issues uncovered during the inspection.
6. Handles all closing paperwork
A professional that understands and handles real estate contracts is an invaluable resource at your disposal, especially at the closing stage of the home buying process. A buyer’s agent walks you through all of the paperwork you need to sign.
Buyer’s agents get paid by the seller once the house has sold. The commission is customarily a percentage of the home’s sale price.
Best ways to find a buyer’s agent
Agent matching services
An agent matching service is a great place to start.
After learning more about your specific needs as a home buyer, these companies pre-screen local agents to find a match.
An agent matching service is often the most efficient and best way to find a buyer’s agent because the service does the work for you. You also take advantage of pre-negotiated savings some of these companies work for on your behalf.
The best companies screen for high-quality agents, and provide several agent options so you can decide which one is best for you.
Some real estate matching services, like UpNest and Ideal Agent, have some (but not all) of these features. But with our service, you get agent savings and several options to choose from.
» Get started: Find a top local buyer’s agent, and get cash back savings after closing!
Lender referral
Your bank or mortgage provider is a good resource for finding a real estate agent since they have connections to the local community.
Ask for a referral and they quickly connect you to an agent so you can evaluate whether the realtor is a match for you.
However, some lenders and agents have exclusive working relationships, so you may not get an objective referral. To help avoid this issue, ask the lender for several introductions, and compare your options.
Personal referral
Your family, friends, and neighbors can provide you with a personal referral.
Ask your network for buyer’s agents with whom they have personally worked with so you can learn about their experience.
While a personal referral is a great starting point, it’s important not to work with an agent merely because of a personal introduction. Do your own vetting and speak with several agents before deciding.
Online search
The internet provides tons of information on buyer’s agents in your area. However, the sheer number of agents and different expertise makes it difficult to quickly identify the right buyer’s agent.
Although you can build a list of agents to reach out to by doing an online search, the realtor interview process is often time-consuming. It’s not the fastest or the best way to find a buyer’s agent.
Social media
Many realtors have social media accounts on sites such as Facebook or Instagram, plus their official agent websites. These platforms have search filters making it easy to find agents in your area.
It’s hard to vet agents on social media since the platforms serve as advertisements for their services. Building a list of agents to contact is the biggest benefit.
As you search for good ways to find a buyer’s agent, social media shouldn’t be at the top of the list.
I found a buyer’s agent: Now what?
Get pre-approved
Before meeting with a realtor, get pre-approved for financing. Pre-approval helps you understand your budget and how much house you can afford to purchase. It also helps the agent set up a home search that fits your criteria.
Getting pre-approved before meeting with an agent shows the realtor that you’re a serious buyer, and helps you avoid viewing homes that aren’t a match.
Set up an interview
Speaking with a buyer’s agent allows you to ask questions and vet the realtor. Ask the agent about their experience, expertise, and knowledge of the area you’re looking to search in.
Interview at least a couple of agents before deciding which one to work with. Getting multiple agent perspectives helps ensure you find a realtor that’s the right fit.
Ask the right questions
There are several key questions agents should be able to answer when you interview them to determine if they’re the right fit for you. Try asking:
- How many buyers they’ve helped purchase a home in the last 12 months.
- Their availability compared to yours.
- Communication preferences (phone, text, or email).
- What sets them apart from other agents (negotiation skills, experience, connections, etc.)
» LEARN: More questions to ask a realtor
Ask for references
Speaking with an agent’s past customers is a great way to vet a realtor because you get insight from someone’s personal experience.
Your discussion with references uncovers details about the agent that are hard to find elsewhere, like if the realtor lived up to the expectations set and if any issues came up during the home search.
A buyer’s agent should freely provide references when requested. Hesitancy to give references could be an early warning sign that the agent may not be experienced, or reputable.
Visit properties in person
When you view homes with the agent, you can evaluate their expertise and helpfulness in a real-life setting. You can also quickly sense whether they live up to what they said during the interview process.
See whether the agent points out areas in need of repair or if they push you to move forward with an offer before you’re ready.
A buyer’s agent that truly has your best interest at heart is thorough and wants to make sure you’re comfortable with the house when deciding whether to purchase.
Chose an agent
Asking questions that help ensure you’re aligned in your housing search and speaking with multiple agents go a long way towards choosing the right buyer’s agent.
Take time to look at agent reviews and speak with references provided to get even more insight. Viewing properties with the agent further helps confirm whether it’s the right fit.
Some buyer’s agents require a buyer’s agency agreement before showing houses. These contracts include details on broker exclusivity, contract duration, and compensation. Carefully review the agreement before deciding to sign one.
» LEARN: How to choose a realtor
Related reading
How to Find a Real Estate Agent: Our guide covers all of the potential ways to find a real estate agent for both buyers and sellers, and helps you zero in on the best approach for you.
What Is a Buyer’s Agent? A good buyer’s agent does far more than just show you homes and write up an offer. We break down the seven key responsibilities of a buyer’s agent.
Questions to Ask a Realtor: What are some good questions to ask a realtor after you’ve found a few potential options? We break down questions to ask a buyer’s agent or listing agent.
How to Get a Home Buyer Rebate: Finding a realtor that offers home buyer rebates at closing could potentially save you thousands of dollars. Our guide breaks down your best options.
Leave a Reply