Buying a piece of property can be a very complicated and stressful process. It can take months to find the right house, and then another couple months for the transaction to close after an offer has been accepted. Most people will only go through a couple real estate transactions in their lifetime. If you do anything only once or twice, it’s very easy to make a mistake. That is why it is very important to have representation as you will find out why via our 12 reasons to use buyer’s agent. I have been through a lot of transactions and know how to avoid mistakes that could cost you thousands of dollars.
The best part is that it’s absolutely FREE to work with a buyer’s agent. The buyer’s agent’s commission is paid from the listing agency’s office for bringing you as a buyer. Since the seller pays the same amount of closing costs whether or not you have a buyer’s agent, there’s no advantage to being unrepresented. Using a buyer’s agent is almost like using a free defense attorney if you had to go to court.
Now that you have an idea, let’s take a look at 12 reasons to use buyer’s agent:
- Notifying you immediately when real estate in your desired criteria comes on the market for sale
- Handling the logistics of all the showings for you
- Helping you examine the overall condition of any properties you are interested in.
- Pulling statistics on the neighborhood, town, and statewide real estate conditions
- Helping you ask all the important questions about each property
- Analyzing the positives and negatives of each piece of real estate with you
- Recommending fantastic lenders, attorneys, and home inspectors
- Putting together a comparative market analysis before you make any offers
- Using expert negotiation tactics to help you get the property at a lower price
- Helping you handle problems that might arise from the home inspection
- Filing the correct paperwork and contingencies for your offer
- Keeping the timeline of your transaction on schedule
Bonus Point: Getting extensions when necessary so your deposit is protected.
Understanding Buyer and Seller Agency
A common question i get is, “Why are there two different agencies involved in the home sale process?”. I like to educate my clients on the differences between a buyer’s agent and a listing agent.
Properties are listed on the open market by a “listing” who is in other words a “seller’s” agent. The listing agent has an exclusive contract with the owner to sell that property. With that contract comes a fiduciary duty to the seller. The listing agent is legally obligated to act in the best interest of the seller in every situation. If a potential buyer goes directly to a listing agent without any representation, they end up working with someone who isn’t on their side. A buyer can make mistakes such as talking openly with the listing agent that they’re willing to spend up to a certain amount. That listing agent can tell the seller, affecting the buyer’s negotiating position negatively. A buyer’s agent represents only the buyer. They hold a fiduciary responsibility to the buyer and will always act in their best interest throughout the transaction.
So, what are you waiting for? Contact me below and i will help buy a house anywhere in the country even abroad.