Find Out How Using A Real Estate Agent To Buy A Home Can Benefit You
Since a majority of home buyers find the homes they want to look at online, you might be wondering if you really need a real estate agent to purchase a home. Before you go straight to the listing agent with your questions and offer, make sure you know what you’d be missing out on by having your own agent. The buyer’s agent can not only help you get the best deal, but their service is paid for by the seller, usually no matter if you use it or not!
Why Not Use The Listing Agent To Buy A Home?
The listing agent has a fiduciary obligation to represent the seller’s best interest. As a buyer, you want an agent bound to the same loyalty in your own favor. When it comes time to negotiate the terms of a contract, you want an expert in your corner. Sometimes buyers think that if they skip hiring a buyers agent the seller will give them a deal on the house, lowering the price because they have to pay less commission. But this isn’t usually the case. First of all, the listing agent would not automatically reduce the commission; they would get paid for representing both sides of the deal. Also, because you are coming in with no representation and no market price knowledge you are not likely to get a good price in negotiations. To ensure that you get the best possible price and terms, hire a full time licensed real estate agent to represent you.
What Does A Buyer’s Agent Do?
In addition to helping you find the perfect home for you, the one that ticks all the boxes and makes you feel all warm and fuzzy inside, the buyer’s agent also researches the market value of the home in order to help you negotiate the right price for your offer. Once your offer is in full swing, the buyer’s agent will help you navigate the choppy waters of inspections, renegotiation and loan acceptance. They will make sure the other agent is also keeping up with their obligations as well. A good agent will help you through closing and check in to make sure that everything went smoothly after the deal is done. No matter how modern we like to think we are, there is a ton of legal paperwork involved with any home purchase and your agent has experience in contracts and closing paperwork. Last, but not least, your buyer’s agent is your emotional rock throughout the stressful and exciting process of buying a home. They’ve been there and done that many times over and will be there to hold your hand every step of the way!