It amazes me that so many people are unaware of a Realtor’s role in the process of buying a home and how many people jump into the house hunt without the assistance of an agent.
Buying a home is not an easy task. It takes a lot of preparation, research and leg work to find suitable properties unique to your needs. Furthermore, once you find a home you like, it takes care and diligence to negotiate and prepare the necessary documents.
It is foolish to take on this task without the help of a Realtor, especially when this service is FREE! It is a common misconception that people believe that a buyer pays his/her agent out of pocket. This is not the case. As a buyer, your agent’s commission is paid by the seller. Now, there are some cases, when dealing with for sale by owners or discount brokerages, where seller’s refuse to pay a commission to a buyer’s agent. In these cases, if you have signed an agreement with an agent, you would technically be required to pay your agent for his service. However, many agents, including myself would never ask a buyer to pay this commission and would simply terminate the agreement and treat the transaction as a private sale. I explicitly put this in my buyer agency agreements and would caution any buyers to ask their agents how they deal with these situations before signing an agreement.
That being said, what are the advantages of working with an agent when buying your home?
- When you sign a buyers agency agreement with a realtor you have legally bound that agent to protect your best interests in every facet of the transaction.
- A good Realtor is dedicated to helping you find the right home and has the necessary tools and know how to do it.
- A good Realtor will know the market and have the necessary information for you to make an informed decision when purchasing a home.
- A good Realtor will negotiate on your behalf and ensure you receive the best price and conditions on your purchase.
- A good Realtor will follow-up to ensure a smooth close to the transaction and transition into your new home.
These are only a few of the things a Realtor will do for you... free of charge! It is important to note that while these things are what most good Realtors will do for you, every agent is different and it is important to find one that is right for you. If you’d like to find more information on what makes me different and the services I provide please contact me anytime!