Buying a home in today's market - part 4 - Home search and buyers agents

By
Real Estate Broker/Owner with Atlas Realty Service, LLC Ga Re lic. 266576

Part 4 - Searching for a home and using a buyers agent

Recently, I had the pleasure of doing an adult ed.  home buyers class for the Marietta Community School.  I have decided to take some of my outline notes and form the into a blog series for home buyers.  

The content is geared a little more toward first time buyers but will still be very relevant for move up buyers as well.  Also, this is based on my own knowledge and experience in our local market.  All real estate is local, so if you are reading this in another part of the country then some of the ideas may not apply or at least they may apply differently.

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Part 4 - Searching for a home and using a buyers agent

Searching for a home

Over 80 percent of all buyers begin their search on the internet. With the advent of the internet buyers can now see virtually every home for sale from the comfort of their own home.

Here are a few tips to help with your internet search.

  • Put in good information.  Your search results will only be as good as the search criteria that you input.  For example, on the  Seach for Homes function on my website there is also an advanced search option that I recomend. This allows you to add chools, subdivision, or other importan information that will help narrow down your home search.  When the search results are returned you will be more likely to see only homes that might interest you.
  • Consider signing up for an automated listing search. With the automated search the new or changed listings that match your search will be automatically emailed to you.  You won't  have to search all over the internet anymore since the newest listings are coming in to your email box everyday.
  • Make sure that you see all of the homes! Here in metro Atlanta, and in many other cities, there is more than one mls service.  Make sure that the search you are using searches all of the mls services for your area.  
  • Should I sign in?  Many websites will require you to sign in at some point.  The settings on my search will allow you to see the basic home information but require a sign in to see additional photos or virtual tours.  If you are hestitant to share your information here are a few tips for you. 
  1.  
    1.  Many (most) agents will never call you.  I can't explain it they just don't.  If they do call it usually is just an offer to assit with your search and there is nothing to heavy handed and there is no obligation.  
    2. Many of the web sign ins do not screen the information.  While I don't encourage this, I have had a few folks sign in as mickeymouse@disney.com :-).

Using a buyers agent

If you find a home that is for sale by owner you are not required to use an agent but you may want to consult with an agent or a real estate attorney to help you through the transaction. Some agents will offer transaction assistance for a small fee.  This can be helpful in understanding the contacts and the homebuying process.

Most homes that you will be looking at are listed by agents. About 90% of all homes sold are sold by agents.  So, should you use a buyers agent?

  • Understand that the listing agent , the agent with the sign in yard, represents the seller and their job is to sell the home on the best terms for the seller.
  • The listing agent shares their commission with your agent.  That is how the agent that represents you gets paid.  You get full representation but there is almost never any cost to you. Personally, I have never charged a seperate fee to a buyers agent, regardless of the commssion amount offered by the listing agent.
  • Can I buy the house cheaper if there is no buyers agent? Usually not.  The seller has a contract with the listing agent that they will pay x% commission when the house sells.  That amount is the same whether there is a buyers agent or not.  Plus, the buyer cannot negotiate the commission as part of the contract.  That would be interfering with the already existing contract between the seller and their agent.  When most agents see an unrepresented buyer they simply look at it as a larger commission check.
  • A buyers agent represents you adn our best interest and will help keep you focused on the homes that best match your needs
  • Buyers agents are obligated to keep your information confidential.  if you deal with the listing agent directly, they can tell the seller anything that you share with them and in turn use that information to negotiate against you.
  • Buyers agents have no responsibility to sell a particular home.  They can point out the good and bad features of any home that you are looking at.  The listing agent only has to disclose information that is required by law.
  • Buyers agents will help coordinate all aspects of your home purchase form the beginning of the search, to apprisal, home inpsection, loan apllication, to closing. 

Remember that commisions are negotiable. This is great to remember if you have a home to sell. Many agents have different policies on this.  Personally I always offer a "volume" discount for representing clients on a listing and also a purchase.  


Would you invest $150,000 or more in the stock market without the advice of a financial advisor?  Would you go to court without your own attorney?  Your home search will go smoother and your best interests will be represented if you have your own agent.

Next time - Making the offer.

 

Read Part 1, Here - Is it a good time to buy and should I buy?

Read Part 2, Here -  Should you buy a home if you currently have a home to sell?

Read part 3, Here  - Getting Credit Ready/ How much house can I afford?

Read Part 4 , Here - Searching for a home and using a buyers agent

Read Part 5, Here - Making the offer

Read Part 6, Here - Appraisal, Inspection, and Due Diligence

Read Part 7, Here - To the closing and beyond

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Bob Southard, e-Pro, Realtor ®, Solid Source Realty, Inc. Buy a home, Sell a home, in Powder Springs, Marietta, Kennesaw, Acworth, Dallas, Hiram,and Cobb, Paulding, Douglas, North Fulton, South Cherokee, County, Ga

Visit my website www.AgentBobSells.com

Search Powder Springs Homes For Sale

Search All Metro Atlanta MLS Home Listings

Call me for all of your Real Estate needs

770-656-9134

Copyright © 2008 By Bob Southard, All Rights Reserved

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Rainer
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Nicole Weidauer
Keller Williams Greater Seattle - Shoreline, WA

This is great, Bob! I am in love with blogging because it really helps you educate your buyers and sellers before they even give you a call- that way when they do call and want to request your services, most of the questions they had are answered.

Great information- Would you invest $150,000 or more in the stock market without the advice of a financial advisor?  Would you go to court without your own attorney?  Your home search will go smoother and your best interests will be represented if you have your own agent. This is great! When you handle objections in this manner, to really help the client understand, it makes it easier for them to want to work with you- you don't seem abrasive, you seem helpful!

Thanks for sharing, Nicole Weidauer

The Egerer & Weidauer Team, Keller Williams Realty North Seattle

Oct 27, 2008 05:25 AM #1
Rainmaker
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Bob Southard
Atlas Realty Service, LLC - Kennesaw, GA
e-Pro - Cobb, Cherokee, North Fulton

Nicole,

Thanks for the comment.  You are welcome to reblog or use any of the ideas if it will help.  Have a great day!

Oct 27, 2008 05:49 AM #2
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Rainmaker
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Bob Southard

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