Should You Use a Buyer’s Agent?
There are so many decisions to make during a real estate transaction. Choosing a buyer’s agent is one decision to make that will set the tone for the entire process.
Buying a house can be one of the most difficult and complicated purchases you make in your lifetime. Not only is the amount of money you are dealing with substantial, the many legal ins and outs of a real estate transaction can be confusing for someone who does not work in the field. This is why many home buyers use a buyer’s agent when they are searching for a new home to purchase.
What is a Buyer’s Agent?
A buyer’s agent is a real estate professional that is licensed to work specifically for the buyer in a real estate transaction. Many people think of a buyer’s agent as someone who helps them pick a house, but they do a lot more than just that.
The role of a buyer’s agent is representing the buyer’s interests, using diligence in searching for properties for the buyer, using professional knowledge and skills to assist in negotiations on behalf of the buyer, and providing technical guidance through all aspects of the real estate transaction.
What Does a Buyer’s Agent Do?
Your agent will be with you from the beginning step to the very last step, and that includes assisting with negotiations. For many people, this is one of the most crucial roles a buyer’s agent plays. A buyer’s agent will:
- Help you assess what you are looking for in a home.
- Assist in your search for homes within your budget.
- Arrange times for visits to the property.
- Review the inspection report with you.
- Negotiate with the seller to help get you the best price.
- Handle the majority of the home offer paperwork.
- Make sure deadlines are met on the escrow timeline.
How Does a Buyer’s Agent Get Paid?
A buyer’s agent compensation comes from the home seller, as a part of the initial listing agreement with the seller’s agent. That means for you, the buyer, a buyer’s agent is essentially free.
Besides not costing you anything, having a buyer’s agent can actually save you substantial money when making the biggest purchase of your life. A good buyer’s agent has the experience to ensure that you do not end up with a home that will cost significantly more than you expect.
How to Choose a Buyer’s Agent?
Buying a home is a personal and complicated process that it generally pays to have someone there who can help you navigate all the hurdles that will inevitably pop up. Any agent you ask will tell you to not hire the first buyer’s agent you meet, ideally, you should interview several before you make a final choice.
One way to get a good sense of your potential buyer’s agent is to spend some time with them, watching how they work. Sometimes the best agents are better at showing you just how well they perform rather than telling you about it.
Experience is really important, but there is something far more valuable that fewer people consider: how well your agent plays with others. After all, an agent who does not treat other agents well may end up sinking your chances at having an offer accepted.
In conclusion, choice a buyer’s agent that you feel is best for you that will help you from the beginning all the way to the end.
