Lehigh Valley Real Estate & Homes – What is a Buyers Agent? Okay, so we have Real Estate Agents – Some are called Seller’s Agents and Some are Called Buyer’s Agents, What is the Difference and why should I care?
In the State of PA you can have many different relationships with a Licensed Real Estate Agent.
I am going to talk to you about working with a Lehigh Valley Real Estate Agent for the purpose of selling or buying a Residential home in Allentown, Bethlehem, Easton or a 35 mile radius of this within PA (not including New Jersey)
The Real Estate Agent and WHO they represent in a Transaction (think of it like a Doctor or Attorney relationship)
The Seller – When a Real Estate Agent helps a Seller sell their home and they place a FOR SALE sign in the front yard. This Real Estate Agent is know as the Listing Agent and/or Seller’s Agent. Their job is to represent the seller in selling their home, make sure they work on behalf of the seller to negotiate and protect the best interest of the seller at all times. Main Objective to get the most money and best conditions for the seller when a buyer makes an offer on their home. Usually, this is the Real Estate Agent you are meeting at the Open house BUT not always…many times other Real Estate Agents help the listing agent by hold open houses for them.
The Buyer – When a Real Estate Agent helps a Buyer – Buy a home – meaning help the buyer with searching for a home – finding a mortgage on a home and evaluating current market value for the home they are interested in making an offer on…The Agent’s main objective is to represent the buyer in purchasing a home, make sure they work on behalf of the buyer to negotiate and protect the best interest of the buyer at all times. This Real Estate Agent is known as a Buyer’s Agent.
A word of Caution – It is not in the best interest of a buyer to call a FOR SALE sign and request that the seller’s agent show them the home. There are complicated reasons why….but one really good and simple reason is the seller’s agent works for the seller NOT the BUYER. You need your own agent to show you the property AND this agent should be someone you have interviewed or researched as the home you are interested in looking at may be your dream home and since this is one of the most important decisions in your life…don’t just pick an agent out of a hat. This person is just as important as choosing your doctor or attorney…trust me. Do you research and compare agents…do a search on google and see what comes up.
Side Note: A Real Estate Agent “Buyer Agent” can show you any home that is listed for sale in the state of PA. Although most work in certain territories…as an example I primarily work in the Lehigh Valley area which includes Lehigh & Northampton counties But, from time to time I also cover just over the lines of Bucks, Berks, Monroe, and Carbon county too.
A surprising Fact – How much do you pay to have a Buyer Agent?: When a Home Buyer requests the assistance of a Buyer Agent to purchase a home that is listed on the Lehigh Valley MLS – The Buyer pays nothing for this Buyer Agent to help them through out the home buying process. which is typically 3 to 6 months from the time you start looking for a home to the time you go to settlement on a home. Depending on your needs of course. Once a Listing is added to the Lehigh Valley MLS this actually makes a contract between the Listing/Seller’s Agent and ALL of the Buyer Agents in the Lehigh Valley that when the Buyer Agent helps sell the property by helping their buyer purchase the home listed by the seller’s agent…the seller’s agent will share the commission paid to them by the seller at settlement. Pretty cool huh?!