Buyer Representation

1. What is a “buyer agency”? Buyer agency is the highest level of client representation afforded to a buyer by a real estate professional. When you engage a “buyer’s agent” your real estate professional is required to represent your interests as long as those interests are not illegal.

2. Who is a “Buyer’s Agent”? A “buyer’s agent” is a real estate sales associate who strictly represents you, the buyer. This legal distinction is important to understand because a seller’s agent is contractually bound to obtain the price and terms most favorable to the selling party. That naturally puts the buyer at a significant disadvantage.

3. Why is this of value to me as a buyer? The seller of a property is represented by the “listing agent.” In negotiating price and terms, the seller has an advocate to represent their interests, but, unless you have executed a buyer agency agreement with your agent, your interests may not be represented.

4. What does a Buyer’s Agent Do? A “buyer’s agent” will stand ready to assist you in every possible way, from start to finish. They will put together a customized itinerary focused on personally touring your through each community, model center or home that meets your requirements. Continuous phone contacts helps to develop a more in-depth understanding of your needs. A “buyer’s agent” has local knowledge about communities and counties, local Schools, banks and more. They will assist you with your home selection, financing, and even construction details in the event you decide to build.

5. What is required of me as a buyer to be afforded this level of representation? A written and signed “buyer agency” agreement is required by Iowa law.

6. Why a written Buyer Agency Agreement? For your satisfaction and protection. You are about to enter into one of the most important decisions of your life. Your home selection and purchase will not only impact you financially, but it will affect the way you and your family will live, and the lifestyles you will adapt for years to come. When you hire a real estate professional, you need to understand that Realtors are independent business people with business expenses. To accomplish your goals they need to know that their expenses will be eventually covered through the transaction. Therefore, for your own protection and satisfaction, you want to work only with a real estate professional that is prepared to make a full commitment to you, your goals and your expectations.

7. What will a real estate professional do for me as a buyer’s agent? You will be afforded a higher level of service. Your buyer’s agent will analyze information such as comparative market data, advise you on negotiating and wording a purchase agreement, and, in general, act as your advocate in the purchase process.

8. How much does this higher level of representation cost me? Our Buyer Representation Fees are FREE to You. There are no hidden charges or obligations. How is this accomplished? All fees are paid by the seller in the form of previously negotiated agreements and the buyer receives the full benefit of professional representation. You have nothing to lose!

9. What are my responsibilities as a buyer in this agreement? In this agreement, you agree to handle all real estate concerns through your agent. You agree neither to seek real estate information nor to view or purchase any property without your buyer’s agent.

10. Who decides if I am represented or not? As the buyer, you alone may make that decision.

11. Why would someone not want to be represented by a buyer’s agent? We have yet to hear a good reason why a buyer would refuse representation. In our experience, buyers without buyer’s agents simply have not been informed that they have a right to be represented.