Shoud I Use a Buyer Agent?

By
Real Estate Agent with Prudential PenFed Realty 291704

It seems that many buyers are hesitant to speak with an agent about buying a home. Often times I will get a phone call about a property and the buyer on the other end is usually very short with me and doesn't offer up too much information. I understand that people feel like the Realtor is trying to sell them something, but buyers should understand the value a buyer agent and how to choose an agent they can feel comfortable with.

First of all, as a buyer you do not pay for the services you receive from your buyer agent. The buyer agent's fee is negotiated with the seller by the listing broker the day they take the listing. The listing agent then puts the property on the MLS, usually offering a certain percentage to the agent who produces the buyer. This means you could work with your buyer agent for weeks or longer for free! 

Secondly, why are you wasting your valuable time and $4/gallon gas? Some people prefer driving around neighborhoods to find a home rather than contacting an agent. They may find one or two homes that look good on the outside, only to realize after contacting the listing agent that the price is too high, or the layout isn't right. A buyer agent can take down the details of the home you desire such as price, location and size; plug them into their computer and produce a list of every property in the area that matches. The two of you can narrow down the list to 8 to 10 homes and you can see them all in a matter of 2 or 3 hours, without wasting a drop of your gas. Now you have plenty of time to finish up your things-to-do list.

What are you scared of? The Realtor on the other end of the phone is trying to help you. Realtors do this for a living and the right agent could be a major asset in your quest to buy the right home for the right price. You should go about choosing a buyer's agent the same way you would if you were choosing a Realtor to sell your home. Interview them. This can be done at their office if you have time, or on the phone by simply asking a few questions.

When the agent starts asking you questions about your wants and needs for a new home be honest with them and say "I haven't selected a buyer's agent yet but I am interviewing right now. Would you mind if I asked you a few questions?"

1. How long have you been a Realtor?

2. Are you a full-time Realtor?

3. How many buyers have you worked with this year?

4. How many homes are currently on the market in this area?

5. What is the current absorption rate (percentage of homes being sold every month)?

After you have spoken to a few different Realtors you should have a top agent that you can trust to help you through the process. The hardest part for you should be choosing the right home. Your Realtor should orchestrate your closing behind the scenes with little effort on your part. This includes getting the contract to the lender and closing company, ordering home warranties, setting up home inspections & surveys, offering contact information for utilities, handyman etc.

Lastly, take advantage of your agent's professional knowledge about the buying process. Make sure they educate you about the process before you begin. If you have any questions speak up. You and your agent are a team and you should communicate clearly. Which brings me to my final note make sure your agent is listening to what you are saying.

If you have any other real estate related questions for the Clarksville Area please give me a call at (931) 801-8660, email me at cblack@realtracs.com, or visit my website www.homeclarksville.comto search all homes on the MLS.

Comments (1)

Anonymous
James Florence

I'm looking at real estate professionals:

1. How long have you been a Realtor?

2. Are you a full-time Realtor?

3. How many buyers have you worked with this year?

4. How many homes are currently on the market in this area?

5. What is the current absorption rate (percentage of homes being sold every month)?

Jul 31, 2010 11:52 AM
#1