Why you need a buyer’s agent?
Most Homes that are being sold will have an agent representing the seller or more commonly, a listing agent. The listing agent’s main responsibility is to make sure the seller’s interest is being protected.
As you think about buying a home, keep in mind that a buyer’s agent is the person that protects your interests as a buyer during one of the biggest transactions you’ll ever make.
Here are a few reasons why you should consider working with a buyer’s Agent:
1.) It is FREE to hire a Buyer’s Agent
One of the most obvious reasons to hire a buyer’s agent when buying a house is that it’s free. There are very few circumstances where it costs money to hire a buyer’s agent. One circumstance that can lead to a buyer potentially having to pay for a buyer’s agent is when purchasing a for sale by owner (FSBO) who is not willing to pay a commission to a buyer’s agent. It’s pretty rare that FSBOs aren’t willing to pay a buyer’s agent commission, but it can happen. For this reason, it’s important you are aware of this possibility when considering the purchase of a FSBO.
2.) A Buyer’s Agent Knows What to Look for When Viewing Homes
Whether you’re buying your first home or your fourth, chances are you don’t physically look at homes everyday. Successful buyer’s agents look at dozens of homes. There are a few red flags to look for when buying a home, many of which you may not be aware of. An experienced agent who looks at homes daily will be able to easily identify potential problems within a home.
3.) A Buyer’s Agent Understands the Local Real Estate Market
Every real estate market is different. Real estate markets can differ from town to town and neighborhood to neighborhood. It’s extremely important when buying a house that you understand the local market.
5.) A Buyer’s Agent Will Coordinate Showings
One of the most overlooked tasks that a buyer’s agent performs is the coordination of showings for buyers. Coordinating showings can be tricky and sometimes confusing. Depending on a buyer’s home search, it’s possible that an agent is coordinating a large number of showings in different towns or neighborhood’s.
The agent is responsible for making sure that you have the opportunity to view all potential properties. This may mean making a dozen phone calls, figuring out the best route for the showings, and making sure they provide you all of the information about the properties.
6.) A Buyer’s Agent Will Know How to Write Real Estate Contracts
Even if you’re not buying your first home, it’s unlikely you’re familiar enough to navigate a real estate contract. When you hire a buyer’s agent, you’re hiring a professional who knows the details of real estate contracts including the laws, regulations and procedures that must be followed in the transfer of ownership.
There are many parts to a real estate contract and having an experienced professional to guide you through the contract is vital. Further the agent will know how to write a contract that presents you in the best possible way and protects your interests.
7.) A Buyer’s Agent Will Have Access to Experienced Professionals Needed during a Transaction
During the course of a real estate transaction there are several professionals that are needed. When you’re buying a home you’ll potentially need a mortgage originator, a home inspector, a real estate attorney, and a handful of other professionals. An experienced buyer’s agent will have several mortgage companies, inspection companies, law firms, and other services that they can recommend to you.
8.) A Buyer’s Agent Will Keep the Transaction on Schedule
Delays in real estate transactions happen, but this doesn’t mean that it’s acceptable. A delay in a real estate transaction is frustrating to all parties involved, especially for the buyer and the seller. An organized buyer’s agent will have a system in place that ensures these delays are avoided.
9.) A Buyer’s Agent Can Be Your Emotional Filter
Buying a home is very emotional and can potentially get the best of a buyer. Another great reason to hire a buyer’s agent when buying a home is they can act as an emotional filter.
Since a buyer’s agent isn’t emotionally attached to a specific property you may have interest in, they can help keep you from making an emotional and rash decision. Ultimately a buyer is the final decision maker, but a buyer’s agent can help a buyer weigh the Pros and Cons to potential properties while taking emotion out of the decision.