In fact, buyers have an opportunity to sign
a buyers agency agreement (it outlines the services provided by the
agent, their compensation, exclusivity details, and how they will work
on your behalf). It is logical to want to work directly with a real
estate agent who can provide a wealth of information they otherwise
would not be able to divulge to consumers.
Things like school district questions,
neighborhood details, and even specific details about a property are all
available to you under this arrangement. Your buyers agent clearly has
your best interest in mind and will do everything possible to provide
quality service while answering your questions as intimately as they
possibly can. It is a win-win, because the more quality information you
have available to you, the better home buying decisions you can make.
The better decisions you make, the better chance you have of getting a
great deal.
Whether you are a first-time, next time,
or last time buyer, you want to know you are getting a good deal and
will be safe, secure, and happy with the property you choose. All the
more reason to do some upfront homework and choose an agent to represent
you that has the qualities you are looking for.
Here are 4 reasons why buyers need their own agent when looking to purchase a home.
Market Knowledge
No one knows the local real estate
market better than an agent! They are hitting the streets to check out
the existing and new inventory, they have seen the neighborhoods, know
which homes are likely to sell fast and those that may require some
tender care to get under contract, they have a good understanding of the
school districts, may know details about upcoming commercial
construction in the area, and have a wealth of other information readily
available to them.
While you may glean a few tidbits from
the large national real estate websites, there is absolutely no
substitute to discussing home details with an agent who has physically
been inside the house and can tell you specific details about the
property. Trust their market knowledge, and ability to discern what you
need, to parlay that into a viable home viewing list.
Help with Hazards
While some buyers are very astute and
have a keen attention to detail, many walk into a home with rose colored
glasses on and fail to see some of the hazards that could end up being
red flags or deal breakers. It is understandable you are excited and
want to see if this house is “the one” and in doing so you may miss some
of the finer points of the property.
Did you notice the roof, structure, and
yard while walking up to the home? Your agent should be on alert to spot
any imperfections or potential issues before you cross the threshold.
Did you spot any leaks? Notice cracks in the floor, walls, or ceiling?
You may have noticed all those things but chances are you were too busy
checking out room sizes, trying to figure which room would be the
office, determining if there was a place for your prized bar stools,
helping the kids decide which rooms they may get, or you were mesmerized
or appalled at the current owners “stuff”. No worries, an agent worth
their salt should be pointing out all the intangibles so you can
concentrate on the details important to you.
Your Own Representation
It is sometimes overlooked just how
important this can be for buyers. Without your own buyer representation
you are either being shown homes by an agent who legally cannot divulge
information to you, or worse yet, you call the agent on the sign to see
their listing. The listing agent works for the seller and will ALWAYS
have the sellers best interest in mind, not yours. Remember, when you
think you can get a better deal without having your own representation,
it rarely works out in your favor.
The local agent is the local real estate
expert so it makes good sense to utilize their expertise by getting
their opinion about the area, crime, schools, each home you visit,
specific pricing options, whether the property appears to be a good or
bad deal, neighborhood nuances, and anything else that comes to mind.
The point is, when you have your own buyer representation, you have an
advocate in your corner who will share everything they can to help you
make the best home buying decision.
Negotiation Power
This is one of the likeliest real estate
areas where not having your own agent can cost you a lot of money.
Unless you are skilled at determining which property imperfections or home inspection issues
typically equate to a lower price, or know when the time is right to
ask for additional assistance (i.e. closing costs, maintenance, updates,
warranties, etc.), it is best to let a skilled agent handle this for
you. Sometimes making a small concession in one area can reap big
benefits overall, such as foregoing getting appliances updated and
instead netting a lower sales price.
Agents will typically keep their
emotions in check during the negotiations and may have additional
insight about the home, listing agent, seller, or builder they can
leverage to get you the best terms possible. Staying calm and collected
reduces the likelihood of making a rash decision or snap judgement which
could cost you in the long run. Getting the best deal on the home of
your dreams is what you should be after!
Final Thoughts
In short, a buyer’s agent is much more
than someone who just opens doors to let you view houses. They want to
help you get a great deal, close quickly, and be happy with both their
service and your new home. The better job they do on your behalf the
more likely you are to refer them to your local sphere of influence and
utilize their services again when you decide it is time to sell your
home.
Whatever your reasons are for buying a
home, there is no better option than working with your own buyers agent.
Do your homework, choose a great agent to represent you, and begin the
journey towards owning your own home. It really is that simple…happy
house hunting buyers!
source: totalmortgage.com
