What is a Buyer's Broker?

A Buyer's Broker is a broker who is engaged by a buyer to represent the buyer's interest when purchasing real estate. The buyer's broker does this by negotiating the purchase of a property at a price and on terms acceptable to the buyer.  A buyer's broker has, without limitation, the following fiduciary duties to the buyer: Reasonable care, undivided loyalty, confidentiality, full disclosure, obedience and a duty to account. The buyer's broker does not represent the interests of the seller. 

Who pays the Broker's Fee for this Service?

For properties sold under the Multiple Listing Service (MLS), it is customary that the seller's broker offers a fee to the buyer's broker.  If the property is for sale by owner, this broker will negotiate a fee from the seller if the purchaser chooses to use the buyer broker's service.

 

 

 

Advantages of a Buyer's Broker

An advocate for the buyer.

A fiduciary responsibility, duty and loyalty to the buyer.

No stone left unturned in the search for my buyers. With the MLS, I will search for all types of properties, foreclosure, for-sale-by-owner, short sale and bank owned.

Clear, concise, and in-depth information on each property provided to the buyer, including but not limited to: full investigation into all issues concerning the property, market analysis to evaluate pricing, pricing history and how long the property has been listed.

 

Consultation

If you're interested in purchasing residential or commercial real estate in the Northern Adirondacks, I am the Real Estate Broker with the experience, expertise and independent judgment who can assist you in realizing your goal. Contact me directly or fill out my Q & A on this site.

Mary Ellen Stumpf, J.D.
office 518.891.9424
mobile 518.339.6388

E-Mail: adirondackbuyerbroker@gmail.com

 

 

 

 
 
 

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Photo by isarescheewin/iStock / Getty Images
Photo by isarescheewin/iStock / Getty Images