When making any significant purchase or decision, people usually look for an unbiased educated opinion to assist and guide them through the process. It's practical to seek legal consultants to help safeguard their interests in fields well beyond their experience and expertise. The home buying process including finding the best mortgage advisor and buyer's Realtor is no exception to that rule.
For instance, doesn't a suspect in a court of law seek the knowledge and services of a lawyer? You shouldn't go to court unrepresented and seek advice from the plaintiff's attorney if you are the defendant or vice versa, correct? The same is true with a real estate transaction. Have your own representation in your corner. Period.
Nonetheless, with such a wide array of information readily accessible online, it is not uncommon for us Realtors to hear clients asking, "why should we hire a real estate agent when the listing agent said he'll represent us?" This is called double ending a deal and it's not a smart decision for buyers.
While some homebuyers push through escrow with their purchases just fine. Most usually hit a few road bumps and others get jammed up with a big bill or discover very expensive problems after closing on the property. This could be avoided if they had decided to be represented instead of using the listing agent. This example is why it is essential to have a buyer's real estate agent in your corner. To help you get a better understanding, herein is a list of reasons why it is important for you to have a real estate agent.
As Henry Ford aptly put it, once you hire individuals who are smarter than you, it outlines that you are smarter than they are. When it comes to buying and selling real estate, hiring a professional real estate agent ensures that you need not know everything related to the field to make a worthwhile purchase. Does that take some of the weight off of your shoulders? Nonetheless, the catch is to select the best real estate agent. What's more, hiring a professional agent means that you save precious time to focus on other things. Like what color to paint the bathroom. Or the perfect couch for your new living room!
Expert Buyer's Agents are neighborhood experts
It doesn't matter if you're buying a home in Orlando Florida or Silverlake in Los Angeles California - Real estate agents are experts when it comes to identifying the industry buzz about a neighborhood. Besides just being able to spot comparable sales, they can also direct you to where you can acquire more information on fundamental neighborhood elements such as schools, social amenities, demographics, or even crime.
For instance, while Zillow may inform you about the selling price of a house down the street, a neighborhood expert agent 100% knows more. A local agent will have exclusive "inside information" about the house like whether the house had upgrades or that it sold at a particular price after falling out of escrow because of system failures or foundation problems.
Know how to negotiate for a successful sale
Different from what many individuals believe, agents are not responsible for selecting house prices whether it is for buyers or sellers. We've here as trusted industry experts but it's up to the seller to decide on the asking price and you as the buyer to ultimately decide how much you're willing to offer to be the new owners of the house. Nonetheless, an agent will assist and guide you in making the right choice.
A good agent will have all the pertinent details about finding the value in a property. Including whether or not the property has been upgraded among other important factors that can help lead you to the best possible real estate option. Arguably the most important factor, does the house have serious deferred maintenance problems and how much money will it take to cure them?
Real Estate Market conditions information - the proverbial crystal ball
Finally, It's important you understand even the best Realtor doesn't have a crystal ball and can't predict the future. What we can do is effectively read the market and share our findings of the market conditions that will ultimately guide your buying process. Numerous factors determine precisely how you go down the rabbit hole of home buying to find the right house for sale to call home.
Information like average and median sale prices, average per foot costs of houses similar to your preferred property, as well as average days on the housing market among other important details can have a significant impact on your ultimate decision. Your agent should also be able to direct you to the next "up and coming" area where you'll be able to grab the best bang for your buck.
There are numerous reasons as to why a buyer's real estate agent is essential and these few reasons outlined above should give you a clear picture that as a buyer, you need a real estate agent in your corner. Let's not forget hiring a buyers agent is FREE The listing agent shares their listing fee with your buyer's agent. You have nothing to lose with working with a buyers agent and absolutely everything to gain while saving money!
Here are some supporting links we like:
What does a buyer’s real estate agent do for their clients – see all the various tasks a buyer’s agent performs as part of being a buyer’s advocate during a real estate transaction.
4 Reasons for a Not-So-Scary Home Buyer’s Consultation | Maria Mastrolonardo's shares how working with a buyers agent is the smart decision when buying a home.
What Can A Buyer’s Agent Do For You? | A few insightful sentiments from Kevin Vitali about the benefits of hiring your own representation when buying a home.