5 Reasons to Use a Buyer's Agent to Buy Property

Charles Ross - eXp Realty LLC - Agents like you are greatly appreciated. 

Agents who support other agents make the best ones in their areas of expertise too!

I hope you have a wonderful weekend! 

Dorie Dillard Austin TX - Thank you. And buyers should call you for representation too! Buyers are wise and they deserve the best professional services. Trusting someone to help guide them through the process has to be taken seriously with an honest approach right from the start. 

Debbie Laity - before even going down the rabbit hole, to ooh! And ahh, buyers need to understand the process and understand the responsibiities when financing is involved. Jumping the gun and looking at houses can be very disappointing if the buyers aren't quaified. It's such a disappointment if they aren't able to get what they had their hopes on from the start. 

Your compliment is great appreciated. I wish you success always. 

John Pusa - your feedback is greatly appreciated.

I know you are a valuable source to buyers and sellers in your area too. 

I wish you the best. 

Thank you Patricia Feager, ABR,CRS,GRI,MRP. I wish you the best too!

George Souto - thank you for being a qualified Lender, an expert in the field for many, many years. How you treat others here on ActiveRain is greatly appreciated. 

Thank you, Sir George.

Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI - it's so kind of you to say that. I would do the same for you. Scottsdale and Sedona are my two favorite places in AZ! 

Buyers and Sellers would be proud to work with you. 

Hello Adam Feinberg - since I began in January 2003, TX already had Buyer Representation Agreements and Information for Buyer's Services that I go over with buyers before showing and once they agree, I show. We talk about the process, what they can expect, their needs and wants, CMA's, HOA (if applicable), school districts, the community, and so much more. By the time I show, and they decide, we are already keeping the Lender in the loop and getting costs prepared so that there are no surprises. The more information they receive, the easier it is for them to whittle down to what they want and where they want to live. There is good communication right from the start between my Buyer's Lender and myself. Communication has to be consistent because this is the biggest investment in their lives. I've built my built my business over time by repeat clients and referrals. Also, we have rules on being a cooperative Broker; therefore, there is a lot of communication with the Listing Agent too. I get the Title Fees and if the buyer wants to meet with the Escrow Officer, I arrange that too. Before the contract is presented, the buyer already has all the information needed, including settlement costs. Also, once under contract, I'm still doing CMA's to see how the market changes because the appraiser is scheduled after the Option Period, usually on day 1 after the option period is over and the Buyer tells me, they want to continue. I make sure, there are no hidden surprises. After closing, I still keep in touch with my buyers and/or sellers. 

The forms have changed and now it gets more complicated. For example, we have to be very specific about the areas in which we show. That's a tough one, because if the buyer changes their mind and wants to see a different area in DFW, and it wasn't listed on the BRA, then it needs to be amended. For First-Time Home Buyers, it's going to be very tough. We don't know if the Seller will make concessions, and it may take a lot of negotiations, unless the listing agent tells me, if the seller will make contributions.

I don't think it's going to impact luxury homeowners or luxury home buyers as much as those who can't afford a luxury home. Time will tell! 

Patricia Feager, ABR,CRS,GRI,MRP So much of our process is night and day different from yours- furthering the need to clarify what my services are to the public. HOA- is applicable (or rather our version of an HOA in the form of a condo association or co-op board) in about 98% of sales. School district borders change- and we are advised not to talk about it anyway since it can fall under Fair Housing. Title (doesn't apply to co-op's since they aren't real property), Lender costs, settlement costs- all fall into the category where the attorney's address these points. I can provide buyer or seller approximate closing costs- but the attorney will provide the actual numbers. Co-op boards can reject a buyer (after investing a substantial amount of time to get the buyer into contract and creating a buyer board package that is an extensive- essentially a naked view of that buyer's finances and personal aspects- this can include 12 reference letters for a couple- 6 for each plus landlord letters if they rent plus bank reference letter plus employer reference letter plus taxes and bank statements, etc.) if they feel the price is too low...and if a buyer has to pay for the commission- they will naturally want to lower the price paid- and the board can reject the buyer because of this. There are work arounds to potentially deal with this- but given the nature of these deals- about 70% of our inventory, this is going to be ugly. 

I think this will impact all levels of the market- but yes, the entry level will be impacted more.