Is spending time finding a buyer’s agent worth it? One real estate vet believes it’s the first critical step toward making your home purchase a decision you won’t regret.
Buying a first home is one of life’s biggest financial decisions, and one of the most confusing. From understanding market trends to navigating loan options and negotiating price, first-time buyers have their work cut out for them.
But one of the most important steps of this process is one that too many aspiring homeowners miss: knowing who your real estate agent is really working for.
Many newcomers to the real estate space are unaware that not all agents advocate for getting their dream house at a dream price. “If you’ve been talking to a sales agent, it’s natural for them to be on the side of the seller and offer the highest sale price possible,” says Kathleen Chiras, a long-time real estate industry analyst and founder of an online directory aimed at homebuyers.
“If you’re buying a home for the first time, or even if you’re planning to buy a second or third home, you’d always want to work with a buyer’s agent,” she adds.
A buyer's agent is a licensed professional who works solely on behalf of the homebuyer. Unlike listing agents, who are legally bound to get the best price and terms for the seller, buyer’s agents act as fiduciaries for their clients. “Their role is to protect your financial and legal interests as a buyer throughout the transaction,” Chiras says.
Working with a buyer’s agent brings a multitude of benefits that one is not likely to enjoy with a typical agent. For one, buyer’s agents bring local market expertise, helping clients understand pricing trends, neighborhood dynamics, and property history. Moreover, they have access to off-market listings, coordinate inspections, and help buyers avoid costly mistakes buried in a property’s fine print.
“More importantly, they negotiate aggressively on your behalf, which often leads to better terms and lower final prices,” she adds.
Yet despite these advantages, many first-time buyers struggle to find the right agent. “The term ‘real estate agent’ is generic and confusing to the public. It’s not always clear who’s working for whom.”
Locating a true buyer's agent can require some work, particularly in smaller markets where dual agency - where the same agent represents both sides - is common. Buyers may not know what questions to ask to identify an agent who truly puts their interests first.
To streamline the often time-consuming process of finding a qualified buyer’s agent, many homebuyers turn to online directories. These platforms list agents who meet certain professional criteria, making it easier for buyers to compare options and make informed decisions without having to conduct extensive research on their own.
Still, not having a buyer’s agent manage a purchase should not be considered a massive mistake on the part of the buyer. “But getting one will make the experience of buying your first home one you’ll look back at with a smile on your face.”
