In competitive markets, many buyers have found themselves questioning whether or not they really need their own buyer’s agent. They might go to an open house, fall in love with a home, and meet the listing agent who says they’ll be able to get them the place.
Seems like a shoo-in, right? While the decision is obviously up to you, having your own buying agent can help you tackle the hard parts of homebuying and keep your needs in mind. Here’s five reasons why you might want to bring your own buying agent to the table, instead of opting to use the seller’s agent.
1. They only work for you
The biggest reason to have your own buyer’s agent is so that you have someone on your side during the transaction. You want someone there who knows the process and is looking out for your best interests from start to finish.
Though it may seem easier at first, if you just work through the seller’s agent, you won’t get to have someone in your corner. That agent works for the seller, first and foremost. They have his or her best interest in mind, even though a good agent wouldn’t never admit it outright.
You deserve fair and equal representation in the transaction, and having your own buying agent in your corner is a good way to ensure that you get it.
2. They’ll do the negotiating
Let’s face it – negotiating, especially in real estate, is not easy. There’s a lot of give and take to worry about, not to mention having to make sure that you don’t step on anyone’s toes in the process.
A good buyer’s agent will handle the nitty-gritty, back-and-forth of negotiating an offer for you, leaving you to only have to worry about giving the final say. They’ll also be there to guide you when negotiations get tough, either by speaking from experience or by helping you talk through the situation until you sort which move is best for you.
3. They’ll make sure the paperwork looks good
In real estate, deals live and die by their contracts. Your purchase agreement outlines everything that will need to happen in order for the transaction to move forward. If any changes need to be made during the course of the sale, they need to be put in writing, in an addendum. In short, if you want to successfully buy a house, it’s extremely important to make sure that paperwork’s in order. Buyer’s agents know these contracts like the back of their hand. They’ll be able to put the contracts together easily and to walk you any questions you have so you feel secure.
4. They’ll keep the transaction on schedule
Similarly, real estate transactions are filled with lots of critically important time frames. Everything from how long you have to negotiate inspections to when the appraisal needs to be completed is on a schedule. Worse yet, if a deadline is missed or pushed back without written agreement from both parties, you’re considered in breach of contract and it could land your escrow deposit in jeopardy.
With all that you have going on in your life, do you really want to have to worry about all those deadlines? Luckily, a real estate agent’s job is to keep the transaction running smoothly. They’ll keep track of important deadlines for you, so you don’t have to. You’ll be reminded of what needs to happen and when.
5. They’re an emotional sounding board
There’s no denying that buying a home is an incredibly big decision, especially if you’ve never been through the process before. For many first-time buyers, the weight of making this decision can get overwhelming very quickly. Needless to say, things can get emotional fairly quickly. With a buyer’s agent, you won’t be alone in trying to separate your emotions from what’s best for the transaction. They can act as an emotional sounding board to help you figure out your next move. Odds are good that they’ve been in a similar situation before and they can offer some sage advice on how to proceed.
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