Working with a Buyer's Agent
Why would I work with a Buyer's Agent?
Buying a home is likely the biggest purchase you will make in your lifetime (except for the people lining up for a spot aboard Space X), so you should treat it that way. You need someone who experiences the industry daily to represent your interests in such a large transaction. Regardless of how many times you have bought and sold a home, the real estate market is changing every day. Time and time again there will be hiccups. When these hiccups arise, you will want someone in your corner and only your corner. Time, money & stress can all be saved by using a Realtor when you buy a home!
Did you know that using a Buyer’s Agent when buying your home will not cost you a commission? 9 times out of 10, when the seller signed the contract with the Listing Agent to put their home on the Multiple Listing Service, they agreed to pay the buyer’s agent a certain fee upon closing. If you could use an agent for NO extra cost to yourself, why wouldn’t you?
Often, we have buyers call in asking to schedule a showing with the listing agent of a home. It is typically not in your best interest to use the listing agent, as a buyer, to get the home under contract. Contractually, that listing agent is working in the best interest of their client—the seller—not you. Imagine you’re getting a divorce; would you use your spouse’s divorce attorney? There can be a conflict of interest when one agent is obligated to get the “best deal” for BOTH sides of the transaction.
Getting a home under contract & having your Realtor to negotiate the offer efficiently on your behalf is only the beginning of the home buying process. To ensure you are making a solid investment with your money & getting a safe home in return, there are a lot of steps that should happen between going under contract and signing the closing documents. Inspections are a huge factor in determining if a house is a good purchase or not. Being able to understand the inspection report, pick out the necessary repairs and negotiate a successful repair request takes experience to run smoothly. This is only one of the areas that need attention in the “in-between”, but I won’t bore you with a list.
So, next time you hear someone ask why they should use a buyer’s agent, you can ask them why they wouldn’t!
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