Buyer's Agency Explained
Choosing the right Kansas City Buyer's agent is important because in most cases there will be a solid listing agent representing a home seller's best interests. Having a great Buyer's Agent representing you as the buyer will go a long way towards evening the playing field. In many cases, it will even give you the advantage during your home purchase.
The Kansas Brokerage Relationships In Real Estate Transactions Act of 1997 states that a Buyer's Agent is responsible for the following...
Promoting the interest of the Buyer with the utmost good faith, loyalty and fidelity.
Protecting the Buyer's confidences, unless disclosure is required.
Presenting all offers in a timely manner.
Advising the Buyer to obtain expert advice.
Accounting for all money and property received.
Disclosing to the Buyer all adverse material facts actually know by the agent.
At the Jason Brown Group, we believe these guidelines should be the MINIMUM a Buyer expects to receive from their Kansas City Buyer's Agent. Home buyers should also look for their agent to assist with providing real estate market comparables and going over current market conditions and what affect they have on the property under consideration. Having all the necessary information in hand is the best way for a home buyer to make an informed real estate decision. A knowledgeable buyer's agent will have the ability to take a buyer's wants and needs and turn them into realistic goals, upon consideration of the available inventory available in today's real market.
Buyer's agents should oversee contract negotiations for the buyer, as well as overseeing resulting inspection negotiations. A buyer's agent needs to be organized in tracking the transaction from contract to closing and ready to act promptly on any issues that may arise. Many home buyers need assistance in locating a great home inspector, a great mortgage lender and a great home warranty company. Every real estate transaction will vary and a reputable buyer's agent will be able to answer the majority of buyer questions and when an agent is unable to provide an informed answer, they should know what direction to head to get the information that's needed.
The Kansas City Regional Association of Realtors has an Exclusive Buyer's Agency Contract (between buyer and buyer's agent) that is based on much of the above. If you would like to review a copy of the current Kansas Brokerage Relationships In Real Estate Transactions Act or the KCRAR Exclusive Buyer's Agency Contract, please contact us to request the info.
Kansas City Buyer's Agents ~ Johnson County KS Buyer's Agents ~ Overland Park Buyer's Agents ~ Olathe Buyer's Agents
Lenexa Buyer's Agents ~ Shawnee Buyer's Agents ~ Leawood Buyer's Agents ~ Prairie Village Buyer's Agents