The common thought that most prospective home buyers have is that they would be “easily” manage their home purchase themselves. The internet and easy access to information has made it possible for people to handle much of the legwork themselves. But there really is no substitute for a knowledgeable and skilled professional buyer’s agent. An experienced negotiator who knows the vibe of the market can save you considerable hassles, money and time by helping you make an appropriate offer, getting tough when necessary and getting the best possible deal.
But it’s important that you don’t just call the agent that shows up on the listing and sign up. Keep in mind that the agent works for the seller and will obviously keep the seller’s best interests in view. You need to work with a buyer’s agent who will exclusively represent you. Most agents require you to sign a contract that says you won’t work with any other brokers for a specific time frame.
But the fact is that the benefits of hiring a skilled and experienced real estate agent far outweigh the commision they charge for their services. They can make the process of buying a home less stressful, less expensive and less time-consuming as well. Take a look at how a real estate agent can save you money when buying a home:
- They have the right business contacts
When you are considering buying a new home, you need to have the right people in your corner, or else the process can get very expensive and you may not even find the right home for your needs. It can be very time-consuming and tedious to scour various real estate listing sites, go through the details of different properties and visit many of them to identify whether they suit your needs.
Once a buyer’s agent knows that you are serious about buying a home, they will make every effort to show you properties that fit your requirements and budget. Many great agents also have access to off-listing properties and you will save time (which translates into money) on looking for a suitable new home.
- They have the experience to help improve your odds in negotiations
Quoting a buying price isn’t something you can do off the bat. If your offer price is far lower than the listing price, the seller might not consider your offer at all. On the flip-side, if you quote an excessively high selling price, you may end up paying far more than the house is worth and may rue the fact later.
When you attempt to buy a home without help from a buying agent, identifying what the right offer price should be can seem just like a guessing game. However, when you hire the services of a great real estate agent, their knowledge of the local market is a plus. They will be able to guide you on what the right offer price and this improves your chances of sealing the deal.
A qualified and experienced agent will have deep knowledge of the current real estate trends in your local area, the price at which homes similar to the one you are planning to buy etc. This helps speed-up the home sale process for you and saves you, time, money and the trouble of looking at a large number of homes before zeroing-in on one.
- They help you save time
It’s not uncommon for buyers that are managing their property search on their own, to believe that the process won’t take too much of their time. They feel that all they need to do is look on the right real estate sites, search for related ads in local newspapers, attend a couple of open houses and negotiate the price. But the fact is there is much more than that involved in a home purchase.
Buying a home isn’t just exhausting, but can be extremely time-consuming as well. That’s exactly why there are so many real estate agents in the industry today. Property owners that choose to manage this process themselves in an attempt to save some dollars, often find they have very little time on their hands to focus on their professional and personal lives.
If you end up spending all of your time just attempting to look for the perfect property, it takes away from your work, family and leisure time; and all of these are worth a lot more than you think. Working with a credible real estate agent is the best way to take this burden off of your shoulders. They have the knowledge and time required to get this job done efficiently and quickly. The amount of trouble and time they can save you can prove to be invaluable.
- Effective sale negotiations
Knowing your financial & personal circumstances and keeping these confidential is crucial to the home negotiation process. If listing agents know exactly how much you have liked a particular house, and how keen you are in closing the deal etc., that can work to your disadvantage, and the seller may up increasing their asking price or reject your offer altogether.
But a buyer’s agent will keep all this information confidential and will negotiate the best terms and price on your behalf. The simple fact is that a seller’s agent typically works for the seller and prioritizes their benefit. But a buyer’s agent works for the buyer and not the seller and he will prioritize your goals, finances, and interest over selling a home.
Working with a credible and well-established real estate agent will help ensure you get the home of your dreams with the least amount of trouble at a price that fits into your budget. Contact Scot today!