the Cost of Buyer's Real Estate Agents

A buyer's agent (what our agent is) does not charge the buyers any money. Instead, she splits the commission with the seller's agent (usually she gets half -- three percent -- of the seller's six percent commission on the home).

Our agent looks for homes for us in desirable neighborhoods (she has access to listings before we can get them from MLS) and arranges showings. When it comes time to make an offer, she puts together the offer with you and helps you walk through the contract and submit it. She also communicates with the seller's agent for you.

This is a very good deal for the buyer. Not only does the agent get listings faster than you can, she takes the burden of understanding contract legalese off your shoulders and plays phone tag with other agents to set up your showings. Our agent has been wonderful, very interested in helping us find a good deal in the neighborhood we wanted.

You should make sure your agent is listening to you about your price range. If she only takes you to houses at the very top of your range, either your range isn't realistic or she's only interested in making a big commission. She should be knowledgeable about the neighborhoods you're interested in. Ask her what neighborhoods she specializes in. Also, avoid picking someone out of the phone book or off a website. Ask for referrals from friends and family in your area. This is the best way to find a good agent.

Finally, before you are ready to get an agent, get yourself pre-approved for a mortgage. You don't want to waste your time or your agent's time looking for houses that aren't in your range, and some agents really want a pre-approval letter before they'll work with you. Also, some seller's agents won't set up showings without a pre-approval letter from the buyers, so you can shut yourself out of showings if you don't get this done first.