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Whether we are working as buyers agents or sellers agents, our greatest satisfaction comes from completed real estate transactions and happy clients. During the span of our real estate careers, our "specialty" has changed over and over. In one year, the majority of our real estate transactions might be in the area of new construction. The next year the majority of our clients might be waterfront buyers. We are sometimes asked if we are Buyers Agents or Sellers Agents. The answer is that it really depends on the needs of the clients at that particular time. Perhaps the best way to explain Buyers Agency and Sellers Agency is to give you some definitions of the titles in "layman's terms".
When you become a Realtor, you don't normally choose to be a Buyers Agent or a Sellers Agent. There is no place that you go to register your preference.
Buyers Agency: In a nutshell, in Maryland, a Buyers Agent is a licensed real estate agent who's loyalties and fidicuary responsiblities are to the Buyer in the transaction. In this relationship, the buyer can share their confidences with their Buyers Agent and the Buyers Agent must keep those confidences private and protected. Typically, before making an offer on a home, a Buyers Agent will research the market conditions to be sure that their client is not over-paying for the property, or if they are - at least the Buyer's Agent makes the Buyer aware of the situation so that the Buyer can make an informed decision on whether or not to pursue the property. In some cases, buyers will decide to pay premium pricing just to get into a particular neighborhood, for example, or to own a unique home. We have seen cases where a buyer might "over-pay" for a property just to be close - geographically - to a relative, etc. Buyers agents are also responsible for educating and informing the Buyers on the appropriate inspections that would be useful to learn the condition of the mechanics of the property, i.e. well, septic, structural integrity of the property and more.
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