Buyer’s Agent (aka “Selling Agent”)
Buyers Agent Showing Family a Home
There are big changes happening in the Realtor realm. What’s going on with NAR has been in the news a bit and probably has some home buyers wondering if they’ll still be able to use a Buyer’s Agent, or if they even want to now that the seller will no longer foot the bill.
I wanted to bullet point a few things to consider when you’re making this decision. New home buyers, especially, may not be sure what an agent actually does that they couldn’t do themselves.
Having an excellent real estate professional by your side will not only spare you a lot of stress and uncertainty but will also help you avoid any costly mistakes and ensure a smooth and successful transaction.
A buyer's agent acts as your most dedicated advocate and administrator, guiding you through this major financial and personal milestone.
They provide a range of essential services:
Finding Properties: They excel in finding properties that align with your wishes and needs; they have access to MLS databases for comprehensive home searches and relationships with other agents representing sellers, further expanding your options.
Access to Unlisted Homes: They have insight into unlisted properties like pocket listings, short sales, and foreclosures providing opportunities in competitive markets.
Viewing Arrangements: They organize property viewings and open house visits once you've identified potential homes you’d like to see.
Submitting Offers and Counter Offers: They help in drafting and submitting offers and managing negotiations and counteroffers with your best interests in mind.
Negotiating Buyer Contingencies: They excel in negotiating buyer protections like financing contingencies, inspection findings, and sale conditions.
Transaction Expertise: They assist in offer pricing, contract analysis, due diligence, timeline tracking, and referring title companies and other trusted professionals for services you may need.
Document Management: They handle essential paperwork ensuring all documents are in order: pre-approval letters, purchase agreements, seller disclosures, inspection reports, appraisal reports, etc.
Identifying Issues: They address concerns or issues that may arise ensuring a smooth and successful buying process.
Detecting Red Flags: Agents are vigilant in identifying potential problems from neighborhood concerns to property-specific details.
Advocate and Educator: They advocate for you guiding you through the process and empowering you to make informed decisions. Their support and guidance reduce stress and anxiety especially for first-time home buyers.