BUYER INFORMATION

Buyer’s Agent Responsibilities

The role of a buyer’s agent is to assist the buyer in the purchase process from start to finish. These responsibilities include:

• Assisting the buyer in finding the right property. After listening carefully to what the buyers are looking for, the buyer’s agent will review the available inventory and schedule appointments to see the homes that fit the bill.

• Offering advice on the purchase process. The buyer’s agent can offer advice regarding neighborhoods or specific homes, as well as discuss the pros and cons of each with the buyers.

• Recommend other professionals. The buyer’s agent can introduce the buyers to other professionals such as a real estate attorney, accountant, notario, building contractor, etc. The buyer’s agent works closely with the other professionals to structure the transaction in a way that will be beneficial to the buyers in the future.

• Help overcome surprises, challenges, and setbacks. The buyer’s agent follows up with all the professionals to help keep the process moving forward. If issues or problems are discovered during the purchase process, the buyer’s agent can provide advice on how to proceed. If negotiations become difficult, it is helpful to have an experienced professional to help keep everyone calm and offer productive solutions.

How to find a Buyer’s Agent

Buyer’s agents all have different work ethics, and work styles. Buyers should try to find a professional that they feel they can work with and who will represent their interests fairly.

Rather than agreeing to work with the very first buyer’s agent you meet, or blindly accept a recommendation, the best advice is to interview at least three agents and ask them:

• How long have you been a realtor?

• What are your areas of specialty?

• What is your experience in this marketplace?

• How are you different from your competitors?

• Are you a licensed real estate agent?

• Have you or your firm had any lawsuits (“demandas” in Mexico) filed against you?

• Are you a member of any professional associations such as the National Realtor Association or AMPI?

Can a buyer’s agent show me any property that is available for sale?

Yes. A buyer’s agent can show you any of their firm’s listings, as well as any listing that is for sale with another real estate agency or even a home that is for sale by owner.

Who pays for the Buyer’s Agent Commissions?

In most transactions, the real estate commissions for the buyer’s and seller’s agent are paid by the seller. However, there are occasionally exceptions to this rule.

For example, when homes are for sale by owner, sometimes the seller will want the buyer to pay the real estate commission for the buyer’s agent.

In the end, who pays the real estate commissions is a term that will be included in the Offer for Purchase agreement. So, it is very important for buyers to read all documents during the purchase process carefully and to ask questions if anything is unclear.