Buyers should be aware of their options so they are better able to protect their positions in a transaction. The role of the Realtor has been undergoing tremendous change over the past several years. Prior to 1995, all Realtors worked for the Seller in a Real Estate transaction. A buyer can now choose to retain representation with a Licensed Realtor and receive the same legal relationship that Sellers have received for nearly 100 years.
A buyer who understands their options will typically want to select their Real Estate representative EARLY in the transaction in order to avoid potential conflicts of interest should they be making many calls to various Realtors (typically listing agents representing the Seller) or if shopping New Home sites (representatives are not necessarily Realtors – thereby having no accountability to the Buyer through RECO* or REBBA**).
With the advent of the Internet, many Buyers are conducting tremendous research on their own before looking at homes or contacting a Realtor. It cannot be understated that part of the research conducted from a buyer’s perspective, is the careful selection of the Realtor to represent their interests in the acquisition of property. A skilled Buyers agent will add tremendous value to the buyer during the drafting of the contract, during negotiations, and overseeing the contract to completion. If you’re going to spend the next 25 years paying for your new home… shouldn’t you spend a few minutes finding the right person to help make it all happen?