Buyer's Agents in Texas
What is a Buyers Agent?
A real estate buyer's agent represents the consumer who is purchasing the property in
the real estate transaction.
In 1994, the state of Texas authorized buyer's agency. Buyers can choose
an agent to work exclusively on their behalf.
This agent owes full fiduciary
responsibilities, duties and loyalty to the real estate buyer. The
buyer's agent works for the buyer client and has the clients best
interests in mind through out the entire real estate transaction
Buyer's agents have certain responsibilities that are defined by the Texas Real Estate Commission, which regulates all Texas Realtors. First and foremost, we are required to place your needs above our own when representing you in a real estate transaction. More specifically, the buyer's agent owes the client: Obedience, Loyalty, Disclosure, Confidentiality, Accounting on all Matters, Reasonable
Care & Diligence
The agent is compensated through a negotiated fee and is split between the
buyer's and seller's agents based on the selling price of the real estate property.
Buyer's agents are almost always paid out of the proceeds of the sale by the seller or builder, so we always recommend using a Realtor, even if you choose another
agent, as it will cost you nothing.
It is important for the consumer to discuss the buyer agent's
compensation in the initial interview. In many cases it is recommended
that the consumer and buyer agent agree to the terms of compensation
prior to viewing real estate properties
and sign a written agreement
based on these terms. The Representation
agreement should spell out the
responsibilities of both parties throughout the real estate transaction.
Consult your local REALTOR® for complete details when you
first start the search for purchasing any real estate property.
Why Use A Buyers Agent?
The real estate buyer agent is
responsible to protect their clients' best interests. Research by the
NATIONAL ASSOCIATION OF REALTORS® has shown that when a buyer agent is
used, the prospective buyer found their home one week faster and
examined three more properties than those consumers who did not use a
The Benefits of Using a Buyers Representation Agreement?
Offers the consumer many benefits.
Evaluate the specific needs and
wants of the buyer and locate properties
that fit those specifications.
Assist the buyer in determining
the amount that they can afford (pre-qualify) and show properties in
that price range and locale the consumer has determined.
Assist in viewing properties
and either accompany the client on the showings or preview the
properties on behalf of the client to insure that the identified
specifications are met.
Research the selected
properties to identify any problems or issues to help the consumer in
making an informed decision prior to making an appropriate offer on the
Advise the client on
structuring an appropriate offer to purchase the selected property.
Present the offer to the sellers agent and seller on the clients behalf,
negotiate on behalf of the buyer client to help obtain the identified
property. . .Keep in mind that the buyer agent will be doing so with their
clients best interests in mind.
Recommendations and assistance
in securing appropriate financing for the selected property.
Provide a list of potential
qualified vendors e.g. movers, carpenters if these services
are needed by the consumer.
Most importantly, the buyer would know that they
are fully represented throughout the real estate transaction.
Questions and Answers
Can't I buy the house cheaper if I call
the agent whose
name is on the sign?
The listing agent owes their loyalty to the seller and will be
looking out for the seller's best interest only so you will be on your
own. All they will do is write up the offer to purchase at the amount
you specify. Be very careful of what you say! The listing agent, by law,
must tell the seller if you indicate you are willing to pay more than
what you offered for the house.
Remember - they work for the seller, not the buyer
What About New Homes and New Subdivisions?
We can represent the Buyer with purchase of a new home in
an existing or new subdivision. Most builders will gladly pay a real
estate commission to a Realtor who brings a buyer for one of their
Many times you will find that there is a site salesperson at model homes
or subdivisions who represents the builder. Sometimes, there might be a
real estate office at the subdivision that handles a lot of the builders
in that subdivision. In all of these situations a Buyer should have
their own representation with an agent who is not representing the
builder, subdivision, or developer.
If you take a drive around the county and check out the new
construction, don't sign in or register at any of the houses or with any
of the sales people
if you're planning to use a Buyer Representative for your actual
Let them know that you are working with a Realtor and will return with
that Realtor if you are interested in that subdivision.
Doesn't it make sense to have an agent represent you?
Who's Working For You? Buyers should never assume that an agent is working for them until they see an agency disclosure.
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Information About Brokerage Services
As you no doubt already know the real estate buying process is becoming increasingly complex, with rapid changes and varying markets. Real Estate professionals offer an
objective viewpoint. Moreover, we are only as good as our reputations, and a good reputation can result only from a history of ethical
business practices. One major trend that has continued to gain strength within
our industry is the use of Buyer's Brokers. More and more buyers are
finding this type of representation to be an enormous advantage in finding their dream home
To Receive Information About Houses, (New or Pre-Owned), Condos,
Urban Lofts, High Rises, Duplex's, and Townhomes in Austin For Sale.
Personally Prepared To Your Individual Requirements.
"Our Goal is for you to receive
the most value for the least effort!
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This information is brought to you by a
proud member of the Texas Association of REALTORS®. Whenever you buy,
sell, or lease real estate,
make sure your agent is a REALTOR®.
We have made every effort to insure that the above information is complete and
at the time of publication. However, Intown Properties assumes no responsibility for
the accuracy of the information contained herein.
All properties are subject subject
to availability, price changes, and prior purchase or lease.