Last month there was a great article in the Minneapolis Star Tribune that illustrated the advantage of a home buyer agent: Avoid disputes with a seller by retaining a buyer’s agent (June 25, 2005).
In short, it tells the story of first time home buyers who make an offer, put down a good faith deposit, and then decide not to buy. The sellers refuse to return the good faith deposit. The buyer and sellers end up talking to a mediator about their dispute. The mediator decides that one of the main issues was that because the only real estate agent involved worked for the sellers that the buyers lacked appropriate guidance.
In most cases, buyers do not pay anything extra for a buyer agent, because the cost comes out of the price of the home. Read the article to learn why this can be the best money you never spent!
Interested in comments from other media resources on the role of the buyer agent? Check out the Buyers Real Estate Group web site.