By the Way How Much Do You Charge to Help Me Buy an Orange County House?
I had a new client ask me this the other day after we discussed her needs and goals my ability to help her reach them by helping her buy her Orange County home.
Generally, here in California, the buyer’s agent is paid by the seller.
When the seller lists his home with the listing agent, they agree on a commission, and usually, the listing agent then splits this commission with the buyer’s agent.
Although this is the most common situation, there are other ways in which the buyer’s agent may be compensated upon the buyer’s purchase of an Orange County home. The buyer and his agent may enter into an agreement under which the buyer agrees to compensate the buyer’s agent a certain percentage of the purchase price regardless of what the seller has agreed to pay. This may be partially covered by the amount, if any, paid by the seller.
This might occur when the buyer wants to buy a for sale by owner that is not paying commissions to any agent, or when the commission offered by the seller/seller’s agent is less than that agreed to between the buyer and his agent.
Why would the buyer agree to pay commissions to his agent if he buys a for sale by owner or a home with a lower commission?
A buyer’s agent looks out for the best interest of the buyer, and finding a good buyer’s agent who understands the market and the pitfalls that can occur when buying an Orange County home can save the buyer more than the cost of the commission.
A good buyer’s agent can assist the buyer in:
- Understanding the true market value of the home.
- Writing a strong offer that is likely to be accepted.
- Understanding the contracts and disclosures that come with buying an Orange County home.
- Getting the best financing available for the buyer’s situation.
- Answering the myriad of questions that come up while buying an Orange County home.
- Providing buyers with a list of trusted inspectors and/or contractors.
- Negotiating for repairs and othe issues that come up during escrow.
If you are curious about the benefits of having a buyer’s agent, please contact me at 714.319.9751.