Why is a buyer's agent different from other real estate agents?

A buyer's agent represents your interests-not the seller's, not the bank's. A buyer's agent is legally bound to serve you with loyalty, obedience, disclosure, confidentiality, reasonable care and diligence. A buyer's agent helps you buy your house or property at the lowest price and for the best terms.

Is a buyer's agent licensed by the State?

Yes. All real estate agents are licensed by the State and governed by the Real Estate Commission of that State. New Hampshire licensed real estate agents can choose to be a seller's agent, a buyer's agent, a sub-agent, a non-agent or a disclosed dual agent. Vermont licensed real estate agents can be a seller's agent, a buyer's agent, a broker's agent or a limited agent.

Is Housing Solutions Real Estate a buyer's agent?

Yes. We are licensed as a buyer's agent by the States of New Hampshire and Vermont. We specialize in helping buyers find homes and properties in the Upper Valley-Dartmouth-Sunapee Region of New Hampshire and Vermont. We are an exclusive buyer's agent because we never represent sellers, only buyers. We give 100 percent loyalty to you, 100 percent of the time.

Are all buyer's agents exclusive?

No. If a real estate firm represents both buyers and sellers, a buyer's agent from that firm could end up representing both sides-the buyer and the seller-in the same transaction. It isn't possible to obtain the best price and best terms for two opposing parties in the same transaction. That's why Housing Solutions Real Estate is an exclusive buyer's agent. We never represent the seller. We always represent your best interests.

Does anyone at Housing Solutions Real Estate ever list properties for sale?

No. Housing Solutions Real Estate has not represented properties for sale since 1991; none of our agents ever work for sellers. We work for buyers only.

How do seller's agents feel about working with an exclusive buyer's agent?

They like it. Any top producing seller's agent likes the professionalism and efficiency of an exclusive buyer's agent. The buyer's agent takes responsibility for the buyer, which lessens the responsibility (and liability) of the seller's agent and the seller.

How does a buyer's agent get paid?

The fee that a buyer's agent receives is negotiated between the buyer and the agent and is described in a written contract. You can arrange to pay an hourly fee, a flat fee or a percentage of purchase price. The fee is typically paid at closing. If the property doesn't close, you don't pay the fee.

If the property is listed with a seller's agent, the buyer's agent should request and receive the "co-broke" fee that's offered to agents who cooperate in the sale. This co-broke fee is set between the seller's agent and the buyer's agent. If the co-broke fee is higher than the fee in your contract, you'll pay less (you may even receive money back); if it's lower, you'll owe only the difference. If the property is being sold by its owner (without an agent) and you're financing with a mortgage, then the entire fee for the buyer's agent can be added to the selling price and paid at closing.

Do I still owe a fee to a buyer's agent if I buy property direct from the owner?

If you have a written contract with a buyer's agent, and the contract excludes "properties for sale by owners," you won't owe a fee. But you also give up your agent's help with that type of purchase. If you have a written contract and it doesn't exclude "properties for sale by owners," then you may owe a fee. Your buyer's agent will help find properties that are for sale by the owners, evaluate the property, analyze the market data used to determine fair market value and therefore used for negotiation, and oversee the transaction to closing.

Won't I get a better deal working directly with a seller's agent?

If you think that the seller's agent will be more motivated because they'll receive the whole commission fee, think again. The fee for the seller's agency is typically based upon a percentage of purchase price. Their legal duty is to get the highest price and best terms for their client, the seller, and their fee is directly related to that price. The higher the selling price, the higher their fee! That's strong motivation for helping the seller. A good seller's agent prefers working with buyers who are being represented by their own broker because the buyer's broker is legally responsible for the actions of their client. That means less liability for the seller and the seller's agent.

How do I hire my own agent?

There is only one way to hire your own buyer's agent and that is in writing. You must interview an agent, and discuss the scope of services, fees, and length of service. The results of your discussion are put into writing, and signed by you and the agency. No written contract? Then you haven't hired an agent. Don't make the mistake that thousands of buyers have made by thinking that an agency is working for you, when it's really working for the seller.

Isn't it a conflict of interest if a buyer's agent is paid from a percentage of purchase price while at the same time the agent is supposed to get the lowest price and best terms for a property?

An exclusive buyer's agent has a fiduciary duty to advance your interests before his or her own.

At Housing Solutions Real Estate, we pride ourselves on negotiating the best price and best terms for our clients. Referrals and recommendations from past clients make up a large part of our future income.

I've bought a number of houses over the years, why should I use a buyer's agent now?

Real estate transactions are subject to federal, state and local guidelines that are constantly changing. What's the first thing most real estate agents do when they decide to move their own homes to a new area? They sign up with a buyer's agent who knows the area, and the state and local guidelines. The benefits of an exclusive buyer's agent far outweigh the risks of purchasing property without proper representation.

What should I look for when selecting a buyer's agent?

Make sure the buyer's agent you choose meets these criteria:

Will the agency keep my information confidential?

Yes. An exclusive buyer's agent must keep all your information confidential. Your financial resources and reasons for purchasing are protected. But a seller's agent who receives confidential information from a buyer has a legal duty to share it with the seller. This can definitely work against you during negotiations. Remember: Housing Solutions Real Estate is 100% loyal to you, 100% of the time.