BY GINA MOLINARI

Did you know a Buyer’s Agent represents your interests at no cost to you? That’s right – Buyers do not pay commissions to their agent, and their agent is a powerful ally in the real estate process. Let’s start with the basics and debunk a few myths about Buyer’s Agents.

Myth 1: You need to pay a Buyer’s agent commission.

Fact: Sellers pay the commission on both sides of the transaction

One of the most pervasive myths is that the Buyer must foot the bill for the agent’s commission. This couldn’t be farther from the truth. The responsibility for paying commissions falls on the Sellers. It’s already accounted for in the sale price (if the Seller used a knowledgeable agent). Here’s how commission works:

1. No Direct Cost to the Buyer: Buyers benefit from guidance, expertise, research, and advocacy of their licensed agent without any direct financial implications. We work as many hours as necessary to bring our clients from the search to closing, and the commission is covered by the Seller.

2. Shared Commission: In most cases, the Seller’s agent and Buyer’s agent share the commission. The sale price already includes the Seller’s expenses like agents’ commissions and capital gains taxes. Agents on both sides of the transaction are working hard for their clients. A well-thought-out list price considers commissions.

3. Sellers Pay Commission, Not Buyers: Plain and simple, a Buyer’s agent gets paid a commission by the Seller. Licensed agents only get paid for our work if clients let us represent them in the sale, but as a Buyer, the cost does not come from your pocket.

Myth 2: Buyer’s agents cost you money.

Fact: A licensed real estate agent knows how to save you money

The DIY mentality leaves many believing they will pay more for property if they use a Buyer’s Agent, so they try to find and contract property alone. In fact, a knowledgeable agent is a tool for saving money throughout the property search and purchase. Here’s how:

1. Avoid Costly Mistakes: Baja has a complex real estate process. You don’t know what you don’t know, but your real estate agent has gone through it all. Transactions can be riddled with contract complexities, unexpected issues, and poor communication that wastes valuable time. We are well-versed in the entire process and steer our clients clear of costly mistakes.

2. Legal Support: We’ve all heard of the new landowner who just can’t seem to get their Title in hand, misses important legal deadlines, or finds out the property lines were marked incorrectly. We work to make sure our clients don’t end up in these situations. Diamante Realtors works closely with closing attorneys, notaries, and accountants to be sure all the legal details are handled before they become a problem.

3. Negotiation Mastery: Insider knowledge is a game changer in the art of negotiation. Our expertise and understanding of market nuances often translate into substantial savings for our clients. Negotiations are for more than just the sale price, so it’s important to have someone advocating for you throughout the process. 

4. Market Insight: Only a licensed agent with MLS access has all the details of market values, trends, and pricing strategies. We can guide you toward properties that are priced correctly and negotiate for you when there’s a deal to be made.

Myth 3: Buyer’s agents are biased toward Sellers.

Fact: Your agent is your advocate and works for you

Our relationships with past clients, developers, and Sellers only serve as an advantage to our clients. We are ethically bound to represent the interests of our Buyer client throughout the transaction, and we have good reason to. Here’s why:

1. Loyalty: As your agent, we are legally and ethically bound to your best interest. We owe you our allegiance and our primary goal is to secure the best possible outcome for you, our client.

2. Impartial Advice: We help you make informed decisions based on your preferences, market data, and property assessments. Diamante Realtors’ agents also bounce ideas and issues off each other, so you get the knowledge of our entire team.

3. We Value Relationships: Your trust and happiness have huge value to us as licensed agents. It’s in our best interest to care for our clients so they will refer us in the future. 

4. Motivation to Secure Good Deals: Because our income is tied to successfully closed deals and happy customers’ referrals, we are highly motivated to negotiate in your best interest and ensure a smooth transaction.

Myth 4: You can do it all on your own.

Fact: Expertise and experience matter

You don’t know what you don’t know, and the real estate market in Baja can be a complex place to navigate solo. Expertise, experience, and insider knowledge make a difference in the outcome of your purchase. It’s our full-time job to serve our clients. Here are just a couple of ways we work for you:

1. Time & Stress Savings: By leveraging our expertise, you save valuable time and alleviate the stress associated with handling every aspect of the purchase process on your own. It’s our job to follow up with attorneys, notaries, sellers, government agencies, and every element that needs attention to get the job done. 

2. Access to the MLS: Only licensed real estate agents have access to the MLS. As agents, we can see important legal information and private remarks. Without a licensed agent, Buyers are at risk of pursuing a purchase that may have red flags all over it.

The role of a Buyer’s Agent is often misunderstood. Contrary to popular belief, a licensed real estate agent is your professional ally, working diligently to protect your interests, save you money, and simplify the buying process. We bring expertise, market knowledge, and negotiation skills to the table, making your real estate journey smoother and more rewarding. At the end of it all, working with a Buyer’s agent costs nothing for the Buyer! So, if you’re considering a property purchase in Baja Sur, don’t let myths deter you from seeking the assistance of a trusted Buyer’s Agent. Our commitment is to you, and our goal is to help you find your perfect piece of paradise and own it smoothly and legally.

Contact Gina Molinari at GinaMolinari@DiamanteRealtors.com for a free real estate tour of Todos Santos, Pescadero, Cerritos, or Los Cabos.