When they’re going through the process of purchasing a home, people often question whether or not they should be working with a buyer’s agent. Often it has to do with a misconception that not using a buyer’s agent will save them some extra money or having one will be a bigger hassle then just hunting and negotiating independently. Most of the time, these hesitations are untrue and misleading. We’re here to clear up why you should use a buyer’s agent and when it might just be necessary.
Free to the Buyer
One of the biggest reasons for shying away from using a buyer’s agent is the idea that it is an added expense in the home buying process. In fact, using a buyer’s agent is absolutely free to the buyer and often saves them money in the long run. A buyer’s agent works on commission, which is traditionally paid by the seller. Essentially you would benefit from a completely free, experienced real estate professional that will likely save you time and money during the house hunting process and sales negotiations. Who could say no to that?
Valuable Time Saved
During the home buying process a buyer’s agent will absolutely earn their commission. They will search for homes within your criteria, preview those homes, set up appointments to view them, and ask all the right questions during the viewing. Once you do finally decide on your dream home, the buyer’s agent will handle the drawing up of any offers and the negotiation process. Once the deal is made, your agent will help coordinate any other appointments, such as engineer inspections and appraisals, as well as acting as a go between your attorney and mortgage company.
Never Miss Out
A buyer’s agent will have access to all databases and listings that might not be as readily available to a buyer. For instance, a buyer’s agent will have access to the MLS (Multiple Listing Service), the searchable database of homes listed for sale. They can easily send listings your way when you provide your basic search criteria. Also, because you’re busy working and not focused on finding a home 24/7 you may miss out when new listings come on the market. A buyer’s agent is focused on all things real estate all day so your perfect home will be top of mind for them when it might not be for you.
Source of Information
Are you spending a lot of time googling information about home inspections, mortgages, title companies and laws around home buying? Stop wasting your time and ask your buyer’s agent! This is their profession and they are a wealth of information. They will walk you through every step of the process and can even make suggestions on mortgage brokers or attorneys to work with since they network with these professionals on a regular basis.
Purchasing a new home is not a process that should be taken lightly. It’s a huge financial and personal decision so why not use all the resources available to you when purchasing your dream home – especially when a buyer’s agent can even save you money! Using a buyer’s agent will be the easiest decision you make when purchasing your new home.