A full time Real Estate Agent works deals everyday. We know the ends and out of the process and recognize those horrible red flags. The experience, knowledge and resources an Agent offers is something the seller normally pays for, so why not get the right representation on their dime? So many buyers who represent themselves over pay and don't realize it when they are doing it.....
Every so often, it's nice to send a reminder out about the importance of having proper representation when making large financial decisions. Just recently, I learned of two real estate transactions that did not proceed as planned because the Buyers did not have someone to advocate their needs.
So, just in case you were hit by a large boulder and forgot the importance of having a guiding light in the largest monetary purchase you are likely to make in your lifetime, let me remind you. With a real estate agent, Buyer's will receive:
Extensive Needs Analysis : Some form of communication will open the door for a professional to learn about you, your life situation and what you are looking for in the home search to narrow down your options. Not only the type of stucture or bedroom count, this includes your timeline, the feasability of owning and what loan to seek depending upon the type of purchase you are interested in making.
Prequalification and Pre-Approval Assistance : After we've discussed the type of home you will be looking for (fixer upper, move-in ready, new construction), a real estate agent will direct you to the appropriate professionals to contact as resources to get the ball rolling with regards to your finances. Our experience in the industry is a 'speaks-for-itself' testimonial to Lenders and loan programs, so put it to use! Don't meander blindly through the purchasing process...
Neighborhood Information and Home Search : So, the fun part begins. You organize and put together a concise home search that covers all of the properties you might be interested in and get to hit the bricks to see (and touch) some real life houses! This is exciting as all get-out, but the real estate professional will be one to give you all the inside information about the neighborhood, Seller's position and motives, potential problems with the structure or suggestions for upgrades, etc.
Making an Offer and Negotiations : Free real estate web estimators may have some "info" (note info, not data) on home trends in the area, but black and white numbers don't lie. A real estate agent pulls comparable homes and will walk through their comparison with you to understand the impact of your terms and issues of the contract.
Vendor Coordination : Google is great and all, but as stated above with the Prequalification process, our experience and client feedback with vendors used sets us apart from contacting a service provider blindly to perform inspections, estimates and work.
Completion and Closing : You've made the offer and negotiated the terms. Now it's time for the Title Company, Lender and Real Estate Agent to do the grunt work behind the scenes to coordinate and resolve closing issues for documents. At closing, a good real estate professional will be at your side to walk through the closing documents with you, should you have any questions or concerns.
It is the goal of a good real estate agent to be your go-to source for trusted resources and information when you are considering buying a house. There are dozens of lists that itemize the hundreds (yes, hundreds) of actions and steps we Buyer's Agents take to work with you to bring you from contract to close, but this list is a concise and easy overview of the many things involved in a transaction that you deserve representation for.
Ashley Cox is a Realtor® with Manning & Company and strives to provide excellent service and assistance to homebuyers in the Dallas/Fort Worth Metroplex. If you are searching for a home in the Metroplex and need the assistance, guidance and support of a professional, call me today at (972) 978-3109.
Are you a teacher, firefighter, public safety officer, health care worker or military personnel? See what having the representation of a Homes for Heroes Affiliate can save YOU!