Your Buyer's Agent

If you have decided to buy a property in Chicago, then the best idea is to use the services of a buyer’s agent. A buyer’s agent is a person who represents the interests of the buyer in the purchase of their new home, condo, loft, town-home, or other property. His or her job is to advise, counsel and represent you throughout the home buying process. The buyer's agent aggressively seeks all potential properties which meet your parameters and goals, uses the latest technology to have up-to-the-minute information about new houses on the market, and loyally negotiates on your behalf for the best price for your new home. Any licensed real estate agent in the United States can legally act as a "buyer's agent," although not all have experience doing so.

Obviously buyers and sellers use different agents, because they have totally different goals. The seller wants to get the most money for the property, while the buyer wants to pay as low as possible. You need an agent who has taken the time and effort to learn what you really want and how to work for your interests as a home buyer. As a potential buyer you have a lot of questions, and you need straightforward, accurate answers provided by an expert who will listen to you, and who will protect your interests. Just as every home is unique, so are the needs of each individual, hence the agent must address those exactly those needs and do the best to fulfill them.

You need someone who specializes in the neighborhoods of Chicago and has ABR, CRS, GRI after his or her name. ABR, stands for Accredited Buyer Representative and assures you that the given agent have the specialized buyer representation training needed to help you find the right home. CRS (Certified Residential Specialist) and GRI (Graduate, Realtor Institute) means the agent is committed to being the very best agent he or she can be. The best ones work in Exclusive Buyers Office Companies (EBOCs) where 100% of licensees are loyal to you 100% of the time.

Look for agents that only work with buyers. Since the buyer agent acts as your advocate, the best buyer agents are so called exclusive agents- the ones that represent buyers, never sellers.. An Exclusive Buyer Agency eliminates conflicts by practicing only buyer agency- the Broker does not allow seller listings for any agent within that company. Exclusive Buyer Agents differ from traditional seller-based real estate offices in that they are consultants focused on their buyer clients. Exclusive Buyer Agents offer services that you would not normally receive from a traditional real estate agent - the highest level of advocacy for the buyer.

The buyer’s agent has the following objectives: to protect your bargaining position, analyze the value of the property, advocate for buyer's best interests, negotiate aggressively for the buyer, seek low price and better terms, check the entire market for available homes, point out reasons not to buy, seek better financing for the buyer, assist in finding a home inspector, explain the forms and agreements, and monitor the entire process.

Don’t forget the legal matters. A home buyer must sign a written agreement to take advantage of these important services. Signing a contract is an important protection for the buyer as well as the agent. If you are not offered a contract with your buyer agent you should initiate one yourself, so the terms and fee is agreed upon and understood prior to making the actual deal. And if necessary don’t hesitate to request contract modifications. If the agent balks at such a request, consider another agent.