Buying Your First Home? What Does It Mean To Be Represented?

Buying Your First Home?  What Does It Mean To Be Represented By A Realtor?

If you are buying your first home in Richmond VA, and you have been doing a lot of research online, you have probably seen so many articles saying you should get a good Buyer Agent to represent your interests!  And that is great advice!

But, do you really know what it means to be represented by a Realtor?  It definitely means a lot more than just opening up the door to the houses you are looking at, filling in some blanks on a contract and sending it off to the listing agent!

As a Realtor who has worked with hundreds of first time homebuyers over the years, I can definitely tell you that no two transactions are the same – and as real estate becomes ever more complex, you should know up front that lots of things can go wrong!  Trying to do it on your own means that there could be a lot more stress added onto your shoulders than you may want to have!  And using a Realtor who is representing not only the seller but you can mean that you may not get as much representation as you would like or that you would need! 

So if you do choose to get your own Realtor to represent you, just what are you getting? 

• As little impact on you as possible!  As problems come up, a good Realtor can take care of these so that you are not stressed out by them!  For instance, you have found a great home in a great neighborhood-but it may be in a flood zone, which may mean buying extra insurance!  A good Realtor can anticipate that and make a phone call or two to see if this is going to be an issue and advise you!
• Your interests are first & foremost!  As I like to say, everything is good until it is not good!  Virginia is a buyer beware state, and if the same Realtor is representing you AND the seller, and something goes wrong, who will that Realtor represent?
• Lots of behind the scenes work done!  A good Realtor will do a lot of research, coordination, communication & planning in order to help you get the best home for you!
• Keep you away from much of the drama!  A good Realtor makes sure that any of the drama that arises from things like negotiations, inspections, mortgages, title, closing are kept as far away from you as possible!
• Knowledge that you may not have!  A good Realtor who works full time may be able to direct you to the right lender for your situation, good inspectors for the home inspection, good attorneys to do the title work and closing!  They will be able to answer your questions about areas, builders, the buying process, etc!  Trying to do all this research on your own will take so much of your time!

Changes are definitely coming October 3 – a good Buyer Agent will be prepared to help you with your home purchase once these changes happen!  So when you are ready to buy a house, talk to a Buyer Agent who specializes in first time home buyers in the Richmond area!  Go over the Buyer Agency Agreement with them!  Talk to them about Dual Representation!  Ask them lots of questions!  And when you are ready to start looking, you will be an educated home buyer!

Have questions?  Just starting to look?  Want to know more about Buyer Agency?  Feel free to call or email me and I would be happy to help!  I work with many first time homebuyers throughout the Richmond area and would be happy to assist!