Buyer Agency

 

  
  There are two sides to every story. Historically, Realtors viewed each transaction from the seller’s perspective and focused on the goals of the homeowner. They would provide assistance to an interested buyer to facilitate the sale for the owner. But because the seller agreed to pay their agent a commission, all parties involved understood that the agent’s responsibility and loyalty was to the seller.

Over the past couple of decades increased awareness of consumer and buyers rights in a real estate transaction has lead many state governments, through their respective Real Estate Commissions, to recognize the “Buyer’s Agent”. The Tennessee Real Estate Commission and The Memphis Area Association of Realtors have outlined the responsibilities of a Buyer's Agent for our area, which includes loyalty specifically to the buyer.

Most recently Buyer’s Agents have begun to offer increased assistance to buyers of real estate including, but not limited to, the following:

- Searching the Multiple Listing Service of the Memphis Area Association of
Realtors to consider all homes for sale and identify those of interest to a
particular buyer
- Showing any listed home to a buyer
- Helping to evaluate the value of a particular property
- Searching for the appropriate financing
- Assisting with writing contracts and negotiating the terms of purchase
- Coordinating various inspections of the property
- Scheduling activities required for closing the sale

Because of the increased amount of time and effort necessary to assist buyers some real estate firms require buyers to sign a “Buyer Representation Agreement” that specifies a fee to be paid by the buyer. The buyer then becomes obligated to that particular agent. If the buyer ultimately buys a home through a different agent the fee must still be paid.

At Weichert Realtors BenchMark we develop positive business relationships with our customers by working hard and providing a higher level of service. When you use one of our agents to assist you as a Buyer’s Agent to purchase a home you will not be obligated to pay a commission. The seller of the property will pay our commission when we are successful in closing the sale for you.