What Does a Real Estate Agent Do for a Buyer?

Chris at Hauseit (https://www.hauseit.com) explains what a real estate agent typically does for a home buyer. Why do buyers even need a real estate agent? What does a buyer's agent typically do?

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Save money when buying, selling and renting real estate in New York and Florida with Hauseit. Available in NYC, Long Island, the Hudson Valley and South Florida. Visit https://hauseit.com, send us an email to [email protected] or give us a call: (888) 494-8258 to learn more. Established 2014.

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A real estate agent does a lot for a buyer, and it doesn't cost the buyer anything to work with a buyer's agent. That's because real estate commissions, typically 6% of the sale price, are entirely a seller closing cost. The seller will pay this commission in a traditional listing arrangement regardless of whether the buyer has an agent or not. If the buyer is unrepresented, then the lucky seller's agent gets to keep the entire commission. If the buyer does choose to exercise their right to dedicated buyer agent representation, then the seller's agent splits the commission per MLS rules (typically 50/50) with the buyer's broker.

But in terms of what the buyer's Realtor does, well it can be anything from finding listings, scheduling showings, accompanying the buyer to open houses, setting up showing tours for an afternoon, submitting offers, advising on pricing, negotiating, helping with the building's purchase application if there is one, referring the buyer to trusted service providers like lawyers, mortgage bankers and inspections, and generally being a trusted guide throughout the process, all the way to closing.

Having a dedicated guide through one of life's largest transactions is really quite a service, and predictably most buyers opt in to this free service. However, buyers can do better than just free with their buyer's agent. By working with a Hauseit buyer's agent, you can earn 2/3 of the buyer broker's commission back at closing. With the typical 3% co-broke to buyer's brokers, that means 2% back to you at closing. With new construction condos sometimes offering up to 7%, 2/3 of that can actually be significantly more in some instances.
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https://www.hauseit.com

Save money when buying, selling and renting real estate in New York and Florida with Hauseit (https://hauseit.com). Available in NYC, Long Island, the Hudson Valley and South Florida. Est 2014.

Hauseit Group LLC, Licensed Real Estate Corporation
Tel: (888) 494-8258 | https://www.hauseit.com
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