Pictured- UNDER CONTRACT 27 James Avenue in Thornton Park. For this transaction I represent BOTH buyer and seller.
Buying a home is no small matter in any economy. Besides being the largest financial transaction many will ever undertake, it’s probably also the most complex. Sure you can try to “go it alone” but why not enlist the help of someone who knows the in’s and out’s of the paperwork and home buying process? Particularly when it won't cost you a dime.
A good Buyer's Agent will save their clients both time and money- usually, a lot of both. A good Buyer’s Agent can protect their clients from legal and financial disaster. It is true we are in the midst of a very lopsided buyer’s market. As I see it, all the more reason to have an agent like me on your side. The very best homes and the very best deals are still in demand. Many desirable homes come up and down quickly, and others get sold even before they are listed. A great Buyer's Agent has the contacts who often give a “heads up” on properties before they ever come onto the market. If you still aren't sold yet, read on.
Reasons You Absolutely Need a Buyer’s Agent When Buying a Home
At first, you may be able to convince yourself that you don't need a real estate agent to buy a home. As you find yourself sifting through papers you don't understand, you may begin to reconsider. There are many reasons to hire a real estate agent when house hunting - here are a few that come to mind.
- There is No Direct Cost to You
One misconception in real estate is that a home buyer pays commission. Not so. The seller pays all the commission, and if two agents are involved in the transaction, that same commission will be split between them.
- It Will Be Much Easier To Find Your Dream Home
Nowadays buyers can search the Internet and use similar tools that are accessible to realtors. Many of my clients enjoy browsing for homes on their own. I actually encourage it.. Unfortunately, some of the consumer real estate Internet sites are not up to date and particular homes may already have sold or been taken off the market. Still, it is helpful when my clients tell me about a home that they have found on the Internet or something they saw while driving around town. I can get a clearer picture of what they are looking for. It’s my business to know which neighborhoods appreciate the best here in Central Florida, which home has the killer kitchen you have always dreamed of, or which have the perfect back yard for your kids or pet. Someone like me can do the grunt work for you, and would be more than happy to do it. It is my job.
- Negotiation
The rules of the game have changed. Sure, you can take on a new full-time job researching home values, but an experienced real estate agent will have already done the work and will be able to negotiate the best possible purchase price for you. For example, I have found over and over again that the initial offer on any given property can significantly help or hurt your chances of acquiring that home. Without a buyer’s agent you will be negotiating with one arm tied behind your back. In most cases, the seller has a real estate agent representing them – why shouldn’t you?
- Legal Protection
When making an important financial transaction such as buying a home, it's important to know that you are legally protected in case things don't go as planned. For example, when I draft a purchase agreement for a buyer, it will include certain contingencies that protect you from issues, such as a loss of financing, failed inspection or unfulfilled promises. If the situation warrants, you may be able to recoup your earnest money deposit or void your offer completely.
- Paperwork, Paperwork, Paperwork
Scaling the mountains of paperwork associated with buying a home should be your Real Estate Agent's job. There is a lot that goes on from the time a contract is executed and the closing date. Home Inspections, appraisals, repairs, insurance, contingencies...etc. A Real Estate Agent can prevent you from losing and forgetting paperwork or from signing on the wrong line. Without their help, you could miss things that may delay the process and push back your closing date.
- Are We Having Fun Yet?
- I like to think that I am doing a great service for the clients I work with by lowering their stress levels, simplifying the home buying process for them, and dare I say, making the process enjoyable. I do my job so you can do the things that you want to do- play with your kids, watch TV, travel etc.
- But it all comes down to trust. Like in many other service professions, not every Realtor is built the same. You should feel comfortable with your Real Estate Agent whether they represent you as a Buyer or Seller's Agent. I am asked many times to help people I know find a Realtor for them in another market. Whether my clients are here in Central Florida, or in the Northeast, or anywhere else in the country, I know these people trust me to do the right thing and I don't take my responsibilities lightly.
- Finally, according to the Journal of Housing Economics, 87% of all home buyers who use the Internet to search for homes also choose to use a buyer’s agent to assist them. I have only touched on a few of the many reasons why and would be happy to share with you many more.
If you use a good Buyer’s Agent, you should be served, not sold.
Hope this is helpful in some way. Feel free to contact me at anytime if you have questions. I truly welcome your feedback.
Filed Under
Articles by Michael Gonick,
buyers
Leave a Reply