Buyer Brokers

Buyer Brokers in Des Moines, by Des Moines Real Estate Experts RE/MAX Real Estate Concepts

A buyer broker specifically represents the buyer, rather than the seller in a real estate transaction.  Until recently agents always represented the seller – even if they were working with a buyer to find a home!  This practice of both agents being a “seller agent” was complicated.  The agent working with the buyer was obligated to disclose any pertinent information the buyer shared to the seller.  For example, if the buyer told the agent they were willing to make specific concessions, or would go as high as a specific amount of money, that information would be given to the sellers.  This put the agent working with the buyers in an awkward and uncomfortable position.

Both agents were considered seller agents primarily because the commission was being paid by the seller.  However, lately the new trend is for real estate companies  to offer a buyer broker service.

There are several different programs for payment when hiring a buyer broker in Des Moines. Some agents ask for a retainer.  That retainer is often deducted from the commission at closing.  Alternately, the commission might be deducted from the purchase price of the property.  Another option for handling the buyer broker commission is for the seller to reduce the purchase price of the property by the amount the selling broker would have paid the other broker if they had been a seller agent as well in order to produce the commission.  In some cases the seller agent pays the commission to the buyer broker as if they were a seller broker as well.

When deciding if a buyer broker is the right choice for you, ask yourself – would you use the same attorney as the seller?  Probably not.  Having a professional real estate agent representing your interests is a wise decision.

There is a lot of free information available to you about buying, selling or investing in Des Moines real estate. For complete information about the Des Moines real estate market including current homes for sale, property values and more please visit the most complete website on line dedicated to everything Des Moines real estate at Real Estate with RE/MAX. Please feel free to contact us with any of your real estate or mortgage related questions and we will be more than glad to answer your questions. Call us at 1-800-708-5890 or email us at dsm@realestateconcepts.net.