Homebuyers today are smart and well-informed, with plenty of resources at their disposal to aid their property search. As a result, some people decide to forego a real estate buyer’s agent when buying a house because they believe doing this will save them money. However, this is not always the case.
Buyer’s agents are typically paid from the proceeds that the seller receives in the sale of the home. This means that the seller-paid commission is split between both agents involved in the transaction. Therefore, homebuyers usually do not have to pay any extra money in order to utilize the professional services of a buyer’s agent.
Even without the extra cost, you might still be wondering if you really need a buyer’s agent. In this post, we will dispel the common myths about buyer’s agents and provide 5 reasons why you should work with one for your next home purchase.
Do you really need a buyer’s agent?
Even if you have bought several houses in the past, it is typically in your best interest to work with a local agent who can represent you in a real estate transaction. There are numerous benefits to hiring a buyer’s agent to help you through each step of the process. Let’s dive into some specific examples.
5 reasons to Work with a Buyer’s Agent
1. They make your home search easier.
The first common myth in home buying is that online listing websites, such as Zillow or Realtor.com, are the easiest way to conduct your search. These sites may supplement your home search, but they are actually very basic compared to the comprehensive search tools your real estate agent uses.
Once you tell your agent the type of property you are looking for, including location, size, features, amenities, and more, they can find homes that meet your specifications much easier and quicker. Additionally, your agent can show you all of the homes you are interested in, not just the ones they have listed. This means that you will have just one point of contact for all your showing appointments.
An experienced agent will also have knowledge about local neighborhoods, new developments, and other helpful insights that may aid your search. Through their vast network of connections in the real estate industry, your agent may even know about upcoming listings that are not on the market yet, giving you an advantage over buyers who are not working with an agent.
2. They have connections with local professionals.
Speaking of connections, a buyer’s agent will know several professionals in the real estate industry who can make your transaction smooth and successful. These may include mortgage lenders, attorneys, home inspectors, and contractors.
With the right experts on your side, you will have many advantages throughout your transaction, such as better loan options, skillful legal aid, and extensive information about the property.
3. They conduct thorough research.
Many buyers believe that it is best to contact the listing agent of a property because they will have information about the house that a buyer’s agent will not have. This is another myth!
In fact, listing agents are legally obligated to protect the seller’s best interests, and they cannot disclose any confidential information to you. This includes the owners’ motivations for selling, their lowest acceptable price, or any offers currently on the table. The listing agent may also withhold negative aspects of the property if you do not ask because, again, they are working exclusively for the sellers.
On the other hand, a buyer’s agent will find out as much information as they can about the house and property because they are protecting your best interests. Your agent will conduct a thorough research about the details and condition of the house, past sales in the neighborhood, property taxes, flood zones, average utility costs, and much more.
4. They can negotiate a better deal for you.
Buyer’s agents want their clients to get the lowest price and most favorable terms in every real estate transaction. In order to accomplish this, they will negotiate on your behalf using their knowledge about the property and experience with successful negotiation tactics.
For example, your agent will know if the house in question is overpriced for the area or if it needs any major repairs. They may be able to leverage this information to get their buyers a lower price. As another example, if the buyers are low on cash, their agent may be able to get the sellers to help them pay for their closing costs.
5. They will streamline the entire process.
Once your contract is accepted on a house, it may seem like the buyer’s agent does not do anything else until closing. This is a common myth because many buyers do not realize all the work that their agent is doing behind the scenes.
The process of buying a home is actually very tedious, and there are many more steps to complete once a contract is accepted. This includes diligent communication with all parties, handling funds, filling out paperwork, coordinating inspections, keeping track of deadlines, and more. Trying to do all of this without an experienced buyer’s agent can be stressful and may even lead to a failed transaction.
Your agent will do all the heavy lifting so that the entire process feels simple and stress-free.
In summary, there are plenty of reasons to hire a buyer’s agent for your next real estate transaction. Just make sure you look for a knowledgeable and experienced agent like the ones on our team here at Sheridan Solomon and Associates.
Our agents are trusted local experts in Macon, Warner Robins, and the surrounding areas. Any of our real estate professionals would be excited to work for you on your next home purchase. If you are interested in learning more about the area or the current market, we can connect you with an agent for a consultation.
Just give us a call at (478) 746-2000, or contact us on our website, www.sheridansolomon.com.