The purchase of a home is an important financial decision. To help with the complex home buying process, 85% of buyers consult a broker or agent. It’s a no-brainer that you have an expert on your side to help you find the right home.
A recent survey found that these were the three most valued activities of their agents to buyers who had hired them.
They organized and submitted the paperwork necessary to purchase their home. (87% of buyers who hired an agent described this service as extremely or very valuable).
Private home tours were taken by buyers (84% said it was highly valuable).
Led contract negotiations (84% of respondents said that this was extremely valuable)
1. Get a lower price on your home purchase
Buyers don’t usually have to pay any out-of-pocket costs for working with an agent. A gross commission is paid by the seller to their agent. The net proceeds are split between the buyer’s and listing agents. If the buyer’s agent agrees to the buyer’s agency agreement in their case, however, they may pay their agents directly.
There are many ways that buyers agents can help you save. They can help you avoid paying too high for a home, negotiate better deals and make sure you fulfill all your contractual obligations to ensure you aren’t in financial or legal trouble.
Find fair market value
If you are ready to make an offer on a home, your agent can help you determine the appropriate price based on market conditions and fair market value. Your agent will perform a comparative market analysis (often abbreviated CMA), using comparable, nearby sales.
An agent can also adjust the offer price to take into account any obvious defects.
Negotiate the price
Your agent will know the market better than you, so they’ll be able to tell you when it is reasonable to ask for a better deal. Your agent should have a good understanding of market conditions. They need to be aware that they can change from month to month and season to season. Even though you may be buying in a seller’s market, that doesn’t mean you can’t negotiate. It all boils down to the property, price and seller. Talking with the listing agent is a great way to gain pricing information. Before you make an offer, your agent may ask the seller’s representative how firm they are about price.
Keep the purchase on schedule
A home purchase requires you to pay attention to many deadlines. A good agent can make sure you fulfill your contract and avoid costly missteps.
2. You can get listings quicker
Buyers can search almost all public listings (both agent-listed and for purchase by owner) on Zillow. Agents are plugged in to the market every day and often can spot new homes that have sold faster than you.
Networking with agents
There could be many reasons why a listing is not on the local MLS. It could be that the seller is still working on renovations, or that they are waiting until the holidays pass before putting their house up for sale. Your agent could have connections with other agents in the area that can help them find out about houses on the market, even before they are posted on the MLS.
Knowledge of all that is available
Agents are more knowledgeable about the area’s inventory than buyers-facing sites. They also have better access to the MLS functionality, which allows them to use more filters. Working with an agent will give you better chances of finding the right home if you’re searching for something specific.
Also, agents who work with many buyers like you (first-time buyers) will already be familiar with the available listings. They can also make suggestions based off your list.
The ability to spot red flags
Agents visit many homes and attend many inspections. This allows them to spot costly problems like a failing roof or water damage. This knowledge can help you avoid purchasing a home that is too fixer-upper for your needs, as well as avoiding inspection problems before closing.
3. Personalize your shopping experience
For first-time home buyers, it can be difficult to navigate the process of buying a house. Even experienced buyers have difficulty keeping up with the details. A great buyer’s representative will spend time finding homes that match your criteria, negotiating contracts and advocating for you. A professional agent can help you feel more confident, especially with so many dollars at stake.
The clients they represent have certain obligations to real estate agents in San Antonio. They are legally and ethically obligated to fulfill your needs.
Your interest in the transaction
Providing disclosures
Guidance
Certain information should be kept confidential
4. Professional negotiating power
It can be stressful, exciting, and sometimes emotional to buy a home. Your passion for negotiating could make it harder to achieve the results you desire. Agents have the ability to ask sellers to be more open to your requests. They also know how to maintain a good relationship with the seller and the listing agent, which can prove useful if there are any problems later in the process.
5. Process assistance and get paperwork
Multiple contingencies can be included in home purchase contracts, which can sometimes exceed 10 pages. Your agent can assist you in juggling disclosures that you may need, such as documents on mold, lead, radon, average utility bills, and other pertinent information.
Agents also have tools to make signing paperwork easier. Many agents now use digital signatures, mobile signing capability and email delivery systems. You won’t have multiple trips to the office to sign documents in the typical 30-45-day escrow period. This technology may allow you to close your deal without ever leaving the comfort of your own home.
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