Buying Colorado Springs Real Estate
What is a Buyer’s Agent?
In any real estate transaction there are two sides. The sellers side and the buyers side.
When buying Colorado Springs real estate, here’s how the process works. A home seller decides they want to sell their house.
Usually that seller will list thier home with a Colorado Springs Realtor. When the seller hires an agent, that real estate agent has a legal responsibility to represent that seller to the best of their ability. The agent is required to put that sellers interest before his own interests. (This is called a fiduciary responsibility.)
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In Colorado, if you (as a buyer) approach a sellers agent to purchase a home, that agent can switch from being a sellers broker to being a “transaction broker.” What that means is that legally the agent cannot give advice, recommendations, or advocate for either the buyer or the seller. That agent becomes a transaction facilitator, fighting for neither party.
But let me ask a question. Do you think–no matter how unintentionally–the former Sellers Agent might be a little in the Sellers corner since the seller hired him in the first place?
If you are a Colorado Springs home buyer, you really should consider finding a Realtor in Colorado Springs that you can like, trust and can work with to be your advocate. A buyer’s agent is a real estate agent who stands in your corner to fight on your behalf.
What Comes Next?
A local real estate agent can help you through the home buying process. I am no longer an active real estate agent in Colorado Springs, but I can help you get the information you need to make an informed decision. Don’t get overwhelmed. I’ll help you find information, check out houses, and connect you with a great agent. At no cost to you, I’ll help you navigate the home buying waters.
Not interested in buying Colorado Springs real estate? Return home.