If you’re in the market for a home, you should be in the market for a buyer’s agent. A buyer’s agent can be a huge advantage to the entire home buying process.
Here, we’re exploring what a buyer’s agent is and how they can benefit you in the process.
What is a buyer’s agent?
There are two sides to every real estate transaction: the buyer’s side and the seller’s side. Seller’s agents represent the seller, and can also be referred to as listing agents. Buyer’s represent the buyer and assist them in seeking and purchasing a home.
What does a buyer’s agent do?
They use their license and expertise to advise, guide, and steer you through the process. Their role typically includes:
- Identifying homes that fit your needs (and budget).
- Setting up a time to tour the home.
- Landing an offer price, writing your offer letter, and taking it to the seller’s agent.
- Advocating for your best interests in the sale.
- Managing the transaction.
- Helping you negotiate for repairs or price adjustments that may be feasible based on appraisals or inspections.
- Standing by for any necessary advice and support at the closing table.
What are the benefits of hiring a buyer’s agent?
Technically, it isn’t 100% necessary to have an agent when purchasing a home. But there isn’t much of a downside to having one. A buyer’s agent can be your best advocate to help you through what could be the biggest purchase of your life!
A buyer’s agent can help you stay on top of new listings
A buyer’s agent with expertise in the local market is critical. They’ll be able to tell you about the amenities in the area, the local schools, and any possible development that may take place in the area in the future.
A buyer’s agent can tap into unlisted homes
In a competitive market, a buyer’s agent can find properties that aren’t listed on the MLS. These might be “pocket listings” or they might be non-standard sales like short sales or foreclosures. Agents have relationships with other sellers and property owners who know of listings similar to what you’re looking for, and they can put you in a position to purchase that property.
A buyer’s agent can help you negotiate contingencies and contracts
Your offer may be contingent on your ability to get financing, an inspector’s findings on the home, or your ability to sell your current property. An agent can help you navigate through the various types of contingencies that you can use and help you put your best offer forward.
A buyer’s agent will point out red flags
These might include general issues in a neighborhood, factors that might affect resale value in the future, and disclosures that offer insider intel about the true condition of the property.
A buyer’s agent brings professionalism and experience that offers you a practical advantage
If a seller gets two great offers, and one has the proper legal documents while the other is incorrect or has a mistake, which offer do you think the seller will choose? A skillful buyer’s agent gives you an advantage when you’re in a multiple-offer situation. They go to bat for you and assure that your offer is in the best position to be successful.
A buyer’s agent looks out for your best interests
They will negotiate for you, help you come up with an appropriate offer, walk you through the entire process, track the timeline of your contract, ensure your contract is fair, and make sure that your deposit on a property is protected.
How do I find a qualified buyer’s agent?
While referrals are a good place to start, you should take the time to interview a few candidates to ensure you find someone that is a good fit for you. If you’re driving around neighborhoods you’re interested in, take note of any agents on “for sale” signs that you see. You can also meet agents by attending open houses. Ensure that your agent is familiar with the area and knowledgeable in the trends & patterns of the local market.
Team Melton is ready to help you with the home buying experience. Our team of professionals has over 50 combined years of real estate experience to assist you through every step of the process.
Contact us today to get started on your search for homes for sale in Evansville or homes for sale in Newburgh!