Buyer Agent

In a buyer brokerage firm, you will encounter three types of agents — the seller’s agent, the dual agent, and the buyer’s agent. But you don’t have to deal with all three of them just to be able to get the best residential property deals. You only need to go at full terms with a buyer’s agent.

What a buyer agent does is to look out for the best real estate interests and deals for his client. Real estate buyers also pay for the service of buyer agents to help them determine the pros and cons of each property they consider.

But in some cases, the “financial” relationship between a buyer’s agent and a buyer extends even after the official transaction has been made. Depending on the agreement, a real estate buyer may also be responsible for paying a portion of the agent’s commission to the buyer’s agent who assisted him. Generally, buyer brokerage firms charge a sales commission. Approximately, 3% of the final sales price would go to the buyer’s agent.

But of course, despite the need to pay for a commission, it is still advantageous to consider working with a buyer agent. Think of it this way: the assistance a buyer agent can provide to you more than makes up for the commission.