You’re out on a Sunday afternoon looking at open houses in your favorite neighborhoods. You aren’t really serious. You are “just looking”. You see a cute house with great curb appeal, so you stop by. You fall in love with the house! The agent asks you to fill out the open house info sheet, and there’s a spot for “are you working with an agent”. Do you put “yes” or “no”?
If no- then please check out the list below on why you need a buyers agent.
Here are 5 reasons you need a buyers agent representing YOU when you buy a home (existing or new construction):
1- A Realtor® will represent your best interest. If you are not represented, a listing agent should disclose to you that you are considered a customer, not a client. Their #1 priority is the seller in this circumstance. If they are also a Realtor®, it is their duty to treat you fairly, but anything you say will be disclosed to their client, the seller.
2- A Realtor® is knowledgeable. Here’s a personal example. Twenty plus years ago my husband and I bought a piece of property. Neither side was represented. When my next door neighbor asked me to represent her in the sale of her home, unknowing to ALL of us, we had a huge easement on our property for anyone to use. Thank goodness she agreed to do a quit claim to remove the easement.
3- Most of the time you do not negotiate a better price on your own. An agent representing you has accurate data from the homes sold in the area and current market conditions. You can not count on data from real estate web sites alone. A good agent will know how to present the best possible price for a home. Even in new construction, you’ll find extras that only a real estate agent may know to ask for. The commission paid is already negotiated between the seller and the listing agent. If you are not represented, the listing agent will receive the full commission and you have not had anyone representing your side.
4- If you are only looking on Zillow or other on line websites, you’ll miss many “new listings’ that are on the market and gone the same day. You’ll also miss out on “word of mouth” or “pocket listings”. These are listings that a potential seller has communicated to agents they “want” to sell, but are not ready to put their home on the market. This may be a way to grab a home before it hits the open market.
5- Between a signed contract and the closing table, you’ll have many obstacles to overcome. Let your agent guide you through the inspection process and the appraisal process. Your agent will also offer help with any lenders you are working with. Recently a major bank denied a loan 1 day before the financing contingency expired for one of our clients. Thanks to their buyers agent, she was able to contact her preferred lender and he saved the deal.
More questions? Please reach out to use and we can help you navigate the path to homeownership!