San Francisco Real Estate Podcast: What does a Buyer's Agent do in real estate?
Do you need to work with a Buyer's Agent when you buy a home?
Websites like Compass.com, Redfin.com & Zillow.com make it easy to search for a new home. Why do home buyers need a Buyer's Agent if they can find a property on their own?
Excerpt from the Podcast:
Today we are talking about what does a real estate buyer's agent do? Typically there are two agents involved in a real estate transaction. You have an agent that represents a seller and typically you have an agent that represents a buyer. Now for these purposes I'm going to speak specifically for real estate here in California and real estate in San Francisco, more specifically.
But if you're anywhere in California this is pretty much the same, and I think pretty much throughout the country, in the United States, I don't know about the world...
What does a buyer's agent do and do you need one? That's a really good question. A buyer's agent is an agent that represents a buyer in a transaction. Pretty simple. Now when you buy a home in San Francisco, as a buyer you are not paying real estate commissions. Let me say that again. As a buyer you're not paying real estate commissions. This is a very big misconception. Most buyers think, oh where do I write the check? When do I write you a check? When do I write my real estate agent a check? The way it works here in California, is when you go to sell your house, the seller actually pays all of the real estate commissions. To break it down and make it very simple for you, when you buy a house you do not pay real estate commissions, typically. There are other ways around this and I can explain that in another episode, but when you buy a house you do not pay real estate commissions. When you sell a house you pay the real estate commissions. Pretty simple.