Why Buyers Need Buyer Agents

Buying a home is one of the largest, if not the largest purchase many people will ever make in their lifetime. While it is an exciting time, the process can be stressful. Here are 6 reasons it is important for buyers to have buyer agent representation.

1. Agents are resources of knowledge and information.

Good agents are experts in the real estate market. They can help you navigate through comparable properties, discuss current market trends, and answer any questions you may have about the buying process so you can make the best possible informed decisions. Agents can connect you to reliable mortgage brokers, real estate attorneys, home inspectors, movers, and more, which helps expedite each step of the process towards a successful sale

2. They get you in the door.

Buyer agents will work with you to understand your search criteria, then schedule and facilitate appointments for you to see the homes you like best in person. A buyer’s agent also acts as a liaison between you and the seller’s agent. While it may be tempting to just contact the listing agent when you find a seemingly perfect house online, it’s important to remember that the listing agent is acting in the best interest of the seller, not you. Which brings us to point #3…

3. A buyer’s agent looks out for the buyer’s best interests.

In some states it is legal for the listing agent to represent both the seller and the buyer during the same transaction. While this may be legal, and in some cases convenient, it does carry conflict of interest risks. Unless there is an agreement in writing stating otherwise, the agent has a duty to protect their seller’s interests first and foremost. Think of it this way: imagine your favorite sports team is competing for the championship title. Do you think it would be a good idea for the team to show up without a coach? How about if they got their opponent’s coach to coach them?

Buyer agents have a legal and ethical responsibility to represent the best interests of you, the buyer, at all times, including disclosing to you any known material facts, maintaining your confidential information, and accounting for any money handled in the transaction. And while a seller’s agent shouldn’t be sharing confidential information about their clients, a buyer agent with their ear to the ground can sometimes pick up useful intel (for example, why a seller is selling, or why their house hasn’t sold yet) and possibly use it to your advantage to negotiate a lower price.

4. Agents are professional negotiators.

Good agents have an intimate understanding of the market and will be able to advise you as to what offer strategy is best depending on the situation. Is there opportunity to come in under list price? If so, how low is too low? What about when competition is fierce and there are multiple offers? While sellers are often inclined to accept the highest offer, good agents know that money isn’t the only important thing to sellers. Great agents know how to write offer terms and conditions to maximize the potential that your offer will be accepted, and they know how to present your offer in the best possible light. Sometimes when offers are pretty much identical in every other aspect, the reputation of the buyer agent you are working with can tip the scales one way or the other. If you find yourself on the edge of a bidding war, you want someone who is an expert in the field on your side.

5. The paperwork.

If you’ve ever gone through the process of buying or selling a home, you know there is a ton of paperwork that can often get confusing. Good agents make certain that important documents are not overlooked, so you can feel confident throughout the process: from writing up the offer, to reviewing seller disclosures, to filling out escrow instructions, to reviewing the title work and closing documents – your agent will guide you through all of it.

6. Problem solving.

What happens if there are issues on the home inspection? What even constitutes an issue? How about if the appraisal comes in low? Remember, buyer agents are there to protect your interests and can advise you on the best way to proceed. Buying a home often ranks somewhere in the top 10 of life’s most stressful changes. Having a good agent on your side to help you navigate through takes some of that stress away.

Key Takeaways:

Buying a home is a large purchase, and if you don’t know what you are doing it can cost you. Buyer agents look out for you, the buyer, first and foremost. Rather than trying to save money by not working with an agent, focus on hiring the best one you can to help you negotiate the best results possible.

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