Should a First Time Homebuyer Hire a Buyer’s Agent to Buy a House?
If you are a first-time homebuyer you may have many of the same questions that other first-time homebuyers have. One of the most frequent questions heard from first-time homebuyers is, “Should I hire a buyer’s agent or just call the agent who is selling the house?”
Should You Hire a Buyer’s Agent?
The answer is definitely yes! Most first-time homebuyer’s think that they should just call the agent who is listed on the sign in front of the house. That can be a big mistake if you don’t know what you are doing, and as a first-time homebuyer, you probably don’t know what you are doing.
Calling the listing agent and having them show you the house and handle the transaction can work if you are experienced and know what you’re doing when it comes to purchasing a home. This agent has a signed contract with the seller of the home in which they agree that the agent will represent the seller. Here, in Missouri, we have a dual agency which allows an agent to represent both the seller and the buyer. While this does happen fairly regular it is definitely something that is hard to do as an agent.
Therefore, as a first-time homebuyer, you should definitely have your own agent that will work solely for your best interest in the purchase of your home. By signing a buyer’s agreement (contract) with your agent you are agreeing to compensate your agent while they are agreeing to represent you and your best interest in the deal.
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