What does it cost homebuyers to hire me as a representative for their purchase? Find out here.
What’s the price attached to working with me as your buyer’s agent?
Nothing at all.
In terms of working for you as a buyer’s agent, my fee is covered by the seller. The seller hires a listing agent, pays that agent a commission, and that agent shares the commission with me, the buyer’s agent. So, if you and I are working together and looking at properties, particularly those on the MLS, my compensation is paid for by the listing broker.
Now, does it cost you something indirectly to work with me? Of course it does! If neither I nor the listing agent were in the picture, you’d probably pay a little bit less for the home and the seller would make a little more money. However, you’d be doing all the work yourself with respect to all the forms, documents, inspections, due diligence, and everything else required to close a transaction. Depending on your level of experience, you may or may not know how to do that on your own.
We’re here to cover your needs. We represent you, we write the offer on your behalf, we negotiate for you, and we manage all the pieces. There is one price that I ask for, and it isn’t monetary—I don’t ask for upfront checks, a retainer, or anything like that. I’m spending a lot of time with you while being away from my family and away from other clients, so the price I ask for is your loyalty.
If we’re going to work together, I’ll be compensated at the closing table. Frankly, I wouldn’t even mind spending a year with you looking at houses, only for you to decide that you wanted to rent and not buy. My goal is to give you the best service; if I’ve helped you make an informed decision to rent instead of buy, I’ve done my job. I might mind if you worked with me for six months and then had your newly licensed sister write the offer in the end.
In the end, it’s important to treat people the way they want to be treated and to make sure that we have an exclusive working relationship. If, for example, you took four agents and said that whichever one finds you the house you want and helps you buy it is the one who gets paid, I’d only have a 25% chance at being the one who helped you. I can’t coach and guide you if I’m only 25% aware of what you’re doing.
In this market, neglecting to hire a buyer’s agent doesn’t pay off. You won’t save any money, you won’t get paid more, and you won’t have the professional guidance to help you navigate complex situations.
If you’re looking forward to having that kind of relationship in your next transaction, reach out and ask Sarita. I’d love to have a strategy session with you and discuss how I can help you in this market.