When you are involved in a business transaction it is always important to have someone working on your behalf. Although buying a home is personal, it is no question that it is a business transaction. I am often asked why a buyer would need a buyer's agent working for them. Many think that just going through the listing agent of the home they would like to buy somehow get them the best deal. It is quite the opposite. Here are the reasons it is always best to have a buyer agent represent you when purchasing a home:
It's FREE - That's right, having a buyer's won't cost you a thing. It's the seller who pays the commission, not the buyer.
It's Convenient - Targeting the right neighborhoods, finding homes that fit your criteria and scheduling showings can be a full time job. If you already work 9-5 it can become daunting and overwhelming very quickly.
Market Knowledge - Understanding the local market is key to finding the best home at the best price possible. And market knowledge is something that isn't easily attained in a short period of time.
Professional Negotiation - Making an offer and negotiating with a seller is by far one of the most specialized parts of the home buying process. A good buyer's agent will be skilled and experienced in the negotiation of the price you will pay for a home.
Professional Connections - Getting to the closing table requires the expertise of a number of professionals. Mortgage brokers, inspectors, contractors just to name a few. Buyer's agents have worked with a number of providers, both great and not so good. When you hire a buyer's agent you get access to their network rather than having to research and build relationships from scratch.
Access to Comps/Sales Info - Comps are extremely valuable when you're considering how much to offer on a home. Agents have access to the latest sales prices of comparable homes and can help you submit an offer that will be acceptable to both parties. This is just one way that a buyer's agent can save you money during the home buying process.
Mitigator of Emotions - Buying a home stirs up a lot of emotions, which is to be expected. However, if those emotions aren't kept in check it can cause many problems that could otherwise be avoided. A good agent removes the 'emotion' in a transaction and helps all the parties keep on track with their goals and more or less 'neutralizes' most situations.
Buying a home can be a long, emotional, expensive process. It is also an exciting, life changing step in a person's life, whether it is your first home or your 10th home. It is important to have expert advice, every step of the way, to make sure that you make a sound investment and get the most from your money. Plus, it can take some of the pressure off while you attend to other responsibilities in your life.