If you're searching for a home, keeping one simple fact in mind could save you thousands of dollars.  That fact: Most Realtors® really represent the seller.   Many home buyers are shocked to learn that their trusted real estate broker actually is obligated to look out for the sellers’ interests.

That means the interests of home buyers almost always come second. A savvy home buyer must keep in mind that almost everything throughout a real estate transaction is skewed to favor the seller. That's why it is important to know the three types of agents in New Jersey, and to always beware of dual agency

Sellers agent: Typically the seller lists his home with an agent who represents the seller throughout the marketing and sale of his property. Any information that the sellers agent learns about the buyer is relayed to the seller. This includes financial capability, price range, offers on other properties (previous offers or live offers), time frame, needs, etc. Most buyers do not realize this and divulge too much information to the sellers’ agent, which compromises the buyers bargaining position rather than enhancing it.

Dual agents work for both buyer and seller. How can an agent can realistically be working to get the seller the highest price and terms at the same time that he claims to be working to get the buyer the lowest price and terms on the same deal? Regardless of what they say, cannot offer home buyers the same protections that an exclusive buyer agent can.

Buyers agent: An agent who only represents buyers and always looks out for the buyer's best interest throughout the entire purchase process; a buyers agent acts more like as a consultant than a sales agent. [Click here for a list of services that only a buyers agent can provide].

The only way to be certain that your Realtor® has only your interests in mind - and not the sellers' - is to engage an exclusive buyer agent to represent you, and it generally costs you nothing to do so.

The benefits [link to benefits page of hiring your own buyers agent to represent you] throughout the transaction are enormous. I am certain that if you read on, you will elect to hire an experienced buyers agent, whether or not you decide to hire me to represent you.

What does it cost me to hire my own buyers agent?

Most times, the buyers cost to hire his own buyers agent costs him nothing. The fee is paid out of the listing commission charged to the seller by the listing broker.

The only time that the buyer is required to pay a commission is if we locate a suitable property that is not currently listed for sale and the seller is not willing to cooperate with brokers, which is very rare, especially in the current market. However, if these conditions occur, our fee is 2.5% of the selling price, paid by the buyer at the time of closing.