February 3, 2006, Newsletter Issue #67: Buyer's Brokers

Tip of the Week

When you are in the market for a new home, you may want to consider using a buyer's broker. A buyer's broker is a real estate broker or agent who contracts with the home buyer rather than the home seller to represent the best interests of and negotiate on behalf of the home buyer. It's a little known fact among first-time home buyers (and even some repeat buyers) that the seller's real estate agent, while no doubt professional and probably charming to buyers, has a legal responsibility to represent the seller's best interest in all matters. No matter how likable an agent may seem to a buyer, it is important to keep that in mind. Much as a seller's agent will work to get top selling price for the client, so too will a buyer's broker strive to get the best deal for the buyer.

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