What’s the difference between a property shopper and a real estate agent?
A property shopper, also known as a buyers’ agent, is a professional who represents the interests of the homebuyer and helps them find and purchase a property. A real estate agent is a licensed professional who represents either the buyer or the seller in a real estate transaction.
Here are some key differences between a property shopper and a real estate agent:
1. Representation: A property shopper represents the interests of the homebuyer, while a real estate agent may represent either the buyer or the seller.
2. Services provided: Property shoppers typically focus on helping homebuyers find and purchase a property, while real estate agents may provide a wider range of services, such as marketing and selling properties, negotiating offers, and handling paperwork.
3. Compensation: Property shoppers are typically paid by the homebuyer, while real estate agents are usually paid by the seller as a commission based on the sale price of the property.
4. Legal responsibilities: Property shoppers and real estate agents have different legal responsibilities in a real estate transaction. Property shoppers are required to disclose their agency relationship to the homebuyer and to act in the best interests of the homebuyer. Real estate agents are required to follow state laws and regulations and to act in the best interests of the party they represent.
Both property shoppers and real estate agents can be valuable resources for homebuyers, and the decision of which professional to work with will depend on your specific needs and goals as a homebuyer. It may be helpful to speak with a few different professionals and get their perspective before making a decision.