What is the purpose of having a buyer’s agent?
Buying a home is a huge financial commitment. As the buyer, you need an experienced professional working for you. That is exactly the role of a buyer’s agent. They look out for the buyer’s best interests, just as the seller’s agent looks out for theirs. Consider these top 8 reasons to have a buyer’s agent.
In What Does a Real Estate Buyer’s Agent Do?, Forbes’ Monte Mohr explains that while “buyer’s agents are no longer the gatekeepers of property information,” they are still essential to “understanding, evaluating, and presenting that property information to home buyers.”
According to realtor.com, home buyers should always have their own agent because buyer agents work to negotiate the best terms and price for the buyer and the buyer agent’s services are free to the buyer. As the buyers, you have nothing to lose and everything to gain by having an agent working for you.
Listed below are our top 8 reasons why every buyer should have their own agent.
No Cost to Buyer–Only the seller pays the commission, whether a buyer uses an agent or not. To learn more, read How Do Home Buyer’s Agents Get Paid?
Professional Expertise–When you hire an agent, you are hiring a professional. Great agents use their extensive real estate knowledge and experience to help you make intelligent and objective decisions.
Financial Planning—How much house you can afford? Your agent will help you to determine this by explaining different financing options and identifying qualified lenders. It is also their job to get you the best possible price.
Home Search and Selection Process–Agents will search for homes following your specific search criteria. They will also provide the buyer with information about each property, including utilities, zoning, taxes, and schools.
Stay Current With the Market–Your agent has the most up-to-date information on what is happening in the marketplace and the price, financing, terms, and conditions of properties. They also alert you as soon as a potential home hits the market.
Negotiations–A buyer’s agent will help you negotiate price, financing, terms, and date of possession, among other things.
Property Evaluations–The agent will provide valuable assistance in regards to home inspections, titles, attorneys, lenders, appraisers, and contractors. Inspections may need to be conducted for termites, dry rot, asbestos, faulty structure, roof condition, septic tank, and well tests.
Closing the Deal–Finally, the buyer’s agent will guide you through the closing process and make sure everything is done properly. See 6 Tips for a Painless Closing on Your Home.
These are the top 8 reasons you should have a Buyer’s Agent! Want to talk more about it? Give us a call today.