Buyer Brokers Can Help Save On Purchase Price

Added January 19, 2009 by Ilyce R. Glink

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Summary: It costs a lot of money to buy a home today, and using a buyer broker can save you more than 5 percent on the purchase price. Buyer brokers represent the buyer's interests in a home purchase rather than the sellers. Buyer brokers can help you find out the seller's motivations and look up what homes in the neighborhood have sold for recently.

Did you know you could save more than 5 percent of the purchase price of your home by using a buyer broker?

It costs a lot of money to buy a home today. That's why you have to take advantage of every opportunity to get a good deal. A buyer broker can help.

Buyer brokers represent the buyer's interests in a home purchase rather than the sellers. That means they're on your side and will negotiate on your behalf. Buyer brokers can help you find out the seller's motivations and look up what homes in the neighborhood have sold for recently.

They can also help you find out more information about the physical condition of the house, and advise you on the initial purchase price as well as help you throughout the negotiations. Most agents can work as a buyer broker, though there are exclusive buyer broker agencies as well. For a referral to an exclusive buyers agent go to www.NAEBA.com. Check your local phone book, too.

Finally, national studies have shown you might save as much as 5 percent on the purchase price of your home, or about $5,000 for every $100,000 you spend. Since the seller pays the commission, that's $5,000 you'll stick right in your pocket!

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