Buy Homes Aurora
Home Buyer Tips for Aurora Colorado

Buy Homes Aurora – Home Buyer Tip #1

When purchasing a home, most people will have an opportunity to interact with one or more real estate sales people (often referred to as real estate agents or “Realtor”).

It is very important for a home buyer to understand the roles and responsibilities of a real estate sales person, especially who they represent in the real estate transaction.
A real estate sales person acts as an “agent” for one or more of the parties (buyer and/or seller) in a real estate transaction. An agent is an individual who works on behalf of another individual.

If you are going to buy a home, there is nothing stopping you from working with a “buyers only” real estate agent and gain negotiating power.

Buy Homes Aurora – Home Buyer Tip #2

Under the law of agency, which governs client/agent relationships, an individual acting as an agent for another individual must work to protect the “best interests” of their client (the person for whom they are acting as an agent).

They are said to have a “fiduciary” responsibility to their client. Typically in a real estate transaction, a real estate agent will obtain a listing from the seller of a home.

The Realtor and seller enter into a listing agreement whereby the Realtor agrees to act as the agent for the home seller to help them to sell their home (listing their home in a listing service, marketing their home, holding open houses, showing their home etc.).

So would an agent acting on behalf of the buyer protect the buyer or the seller? Of course the answer is protect and negotiate on behalf of the buyer. Getting the buyer a lower cost on the price of a home is a common benefit to using a buyer’s agent.

Buy Homes Aurora – Home Buyer Tip # 3

This sellers Realtor is often referred to as the listing agent, listing Realtor, or listing broker. In the listing agreement the home seller agrees to pay the listing agent for their services, typically a percentage of the selling price of the home.

Since the listing agent often is not the individual to actually sell a home, the home seller also typically agrees to pay the agent who actually sells their home (the selling agent) for their services, also typically a percentage of the selling price of the home.

So how much will it cost you to have a buyer’s agent negotiate a better price on the home you are interested in buying? Nothing for you to worry about, because the seller will pay your agent.

Buy Homes Aurora – Home Buyer Tip # 4

A buyer’s agent acts as the agent for the buyer in a real estate transaction. Services that they provide include:

1. Understanding a buyer’s home buying needs and desires.
2. Helping buyers to understand what they can comfortably afford.
3. Researching and helping to locate suitable homes in the appropriate communities that meet their buyer’s needs.
4. Answering questions about homes, communities, the home buying process, and more.
5. Helping a buyer to understand if a prospective home is fairly priced and helping them to formulate an offer for a home.
6. Filling out all of the appropriate purchase offer documents and presenting them to the selling agent and home seller.
7. Helping the buyer with negotiations or negotiating on behalf of the buyer. Providing lists of qualified individuals for other services needed such as attorneys, and home inspection services.
8. Facilitating the flow of contracts between seller and buyer attorneys.

For their services, a buyer’s agent is compensated by the buyer. What typically happens in practice, like stated above, is that the buyer and buyer’s agent will build into the offer a provision for the seller to provide the compensation to the buyer’s agent.

This leaves you the home buyer with all the power to pick the home within budget and sometimes set a better price.

Working with Colorado Houses for Sale, Barry Miller is a smart move.

We shop all homes for YOU. We do not favor one Company’s listings over another Company’s listings.

We shop “For Sale By Owner” homes and “Not-yet Listed Homes” too.

Buy Homes Aurora, Barry Miller has been setting the highest “Standards of Service” to and for Buyers since 1982.

You may contact Barry Miller using the “quick contact us form” above,
or just call his cell at (303) 888-3788

Buy Homes Aurora