8 out of 10 home buyers work with a professional real estate agent at some point during their home buying journey. Real estate agents provide so much value to a home shopper in so many different ways. In this article you’ll learn about what a buyer’s real estate agent does, how they can help you in your journey, & how to find your real estate agent.
What Is A Buyers Agent And What Do They Do?
A buyers agent is a licensed real estate agent that represents the home buyer in a transaction. Most homeowners that are selling a home & buying a new one will use the same agent to both buy their home & sell their current home. If you have questions surrounding specifically how to buy & sell a home at the same time, learn more here.
A buyer’s agent provides value in many different ways. Working with a great buyers agent you can expect…
Immediate Access To ALL Listings Available: Your local buyers agent should be able to automatically send you new properties that become available & match your preferred criteria. By receiving these property alerts you will never miss out on an opportunity to find the home you love. Find all of the listings here.
Skilled Negotiations & Communication: Between determining a fair market value for a home before you make an offer & then finally presenting that offer to the sellers agent, your agent needs to have your best interest in mind all the time. Your agent will not only negotiate on your behalf, but they also need to represent you in the best way possible. How your agent presents your offer matters.
Experience & Guidance: An experienced agent can see things coming before they happen. Expecting counter offers, checking for red flags prior to inspections, & projecting how the negotiations will play out can make your negotiation period go so much smoother.
Recommendations: An experienced local buyers agent should have many recommendations for you throughout the home buyer journey. Loan officers, real estate attorneys, escrow officers, & home inspectors are all recommendations that your local buyers agent should be able to recommend to you.
Paperwork & Transaction Management: From crafting your most likely to be accepted offer, to getting the paperwork all the way to closing, buying a home is a legally binding contract that values hundreds of thousands of dollars. Ensure that your buyers agent has a proven process & track record for ensuring that your transaction closes on time.
How Much Does It Cost To Hire A Buyer’s Agent?
Most transactions have a commission rate of 6% of the purchase price of the home. That 6% is generally split 50/50 between the buyers agent firm & the sellers agent firm. This rate is normally paid from sellers. In most cases, a buyer’s agent cost you as a buyer, $0.00
That means you get free representation, free transaction management, & free access to all of the listings available in your market. Having a buyers agent is an absolute must throughout your home buying journey.
How Do You Choose A Local Buyer’s Real Estate Agent?
Choosing a buyers agent can be as simple as Googling “Local buyers real estate agent near me” & getting a phone call from a random agent after entering your information.
But if you really want a great experience throughout your home buyer journey, you should interview at least three agents & ensure that you and the buyers agent have the same understanding of what is most important to you.
You should ask the people you know for recommendations, check online for local reviews on real estate agents, & pay attention to what agents show up on your social media accounts.
You & your buyers agent are going to be spending a lot of time together & you need to make sure that your experience is going to be great.