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A buyer’s agent is essential to help you navigate the fast-paced market of the real estate world. Imagine having someone who helps streamline the process all while the property owner pays for the commission. Such a win-win, right?
Below are the top 10 reasons why hiring a buyer’s agent is totally worth it.
1. It’s free!
Yes. Hiring a buyer’s agent is free unless the property is FSBO (for sale by owner) where the seller may not be willing to pay the buyer’s agent for commission. Fortunately, that is a pretty rare case but you still need to be aware of it. Now, since a buyer’s agent is free 9.9% of the time, grab that opportunity where a seasoned professional makes sure your best interests are protected.
2. A buyer’s agent knows what to look for
Viewing houses is made easier when you have a buyer’s agent working for you. You don’t physically go to houses on a daily basis but buyer’s agents do. A buyer’s agent looks at dozens of listings each and every week and already knows what to look for when viewing houses. You may not be aware of the red flags but an experienced professional who looks at houses day in and day out will be able to identify potential problems easily.
3. Every real estate market is different but a buyer’s agent understands them
It’s extremely important to understand that when you buy a house, you understand the local market. Local markets can differ from one town to another and having a buyer’s agent who understands and who also has experience in selling houses can go a long way. Choosing a buyer’s agent who has a critical understanding can save you from making an offer on a property that is not in line with local values.
4. A buyer’s agent can help you secure financing
What you can expect from a buyer’s agent is that he/she can help you navigate various financing options especially which type of mortgage will best suit you.
5. Coordinated showings
Coordinating showings can be quite tricky but a good buyer’s agent makes sure that you view potential properties when available. Depending on the type of house a buyer searches for, a buyer’s agent can coordinate a large number of showings even in different areas at different times. Moreover, a buyer’s agent will ensure that you get pertinent information about the properties you wish to look at.
6. A buyer’s agent can help you clearly navigate a real estate contract
As a seasoned professional, a buyer’s agent knows the ins and outs of a real estate contract. Real estate contingencies, deadlines that need to be set and other significant items all comprise a contract. Additionally, an experienced buyer’s agent will know how to write a good contract. A poorly written contract is one of the reasons why a purchase offer is rejected.
7. A buyer’s agent has connections to other professionals
What’s another great reason why hiring a buyer’s agent is more than a good idea is his/her connections with professionals you may need during the entire home buying process. Sooner or later you’ll need a mortgage company, a good home inspection company in Chicago, IL a real estate attorney, and other professionals to streamline your home buying journey.
8. Two is better than one when it comes to negotiations
As mentioned earlier, your buyer’s agent has a better understanding of the current trends in the local market. When it comes to making an offer on an overpriced property, your buyer’s agent can negotiate on your behalf. Apart from that, the buyer’s agent can provide a detailed comparative market analysis to prove the house is either reasonably or unreasonably priced.
9. You don’t need to worry with schedules
Any delay in a real estate transaction can be frustrating for both sellers and buyers. When you hire a top-notch buyer’s agent, you are guaranteed that your real estate transaction stays on schedule.
10. Consider your buyer’s agent as your emotional bank
It’s perfectly normal to be overwhelmed with emotions when you buy a home. After all, it’s not a cheap investment and is not something that should be taken lightly. Your buyer’s agent can be your emotional filter since he/she is not emotionally attached to any specific property.
Final thoughts? Hire a buyer’s agent if you want to ensure that a seasoned professional is out there to look out for you during one of your most prized purchases.
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