Let's get right to it. What is a buyer's agent? A buyer's agent is a real estate professional who helps real estate buyers navigate the real estate market. Everything from managing your showings to negotiating on your behalf at the closing table. Ultimately, having a buyer's agent who works to protect your interests throughout the process will save you both time and money.
Many real estate buyers hold the misconception that working directly with the listing agent is best. In fact, any given listing agent has a signed agreement with their seller to get the highest and best price for their property. Cue the buyer's agent.
Here are some reasons why you'll want to hire one as soon as possible for your next home search:
1. A buyer's agent service is free
Well, for you at least. Once the transaction is closed, the seller is responsible for paying the full commission in which the listing agent and buyer's agent split. If you stop reading here, we don't blame you.
2. A buyer's agent is truly a local expert
This is especially important if you are moving from out of town. A real estate professional that works mostly with buyers will have invaluable local knowledge. They know which neighborhoods are trending and are up to date on the surrounding areas including schools, gyms, etc. A buyer's agent will ensure that you don't only love your new home but also the lifestyle that the surrounding community provides.
3. A buyer's agent has access to the MLS
While searching for homes on secondary real estate websites like Zillow is a good start, the MLS has the most accurate and up to date information. A buyer's agent will utilize the MLS to notify you in real time of changes in your market of interest. You won't have to worry about missing any new listings or price reductions. More importantly, you won't have to constantly monitor the market yourself.
4. A buyer's agent will manage and accompany you on showings
As a real estate professional, your buyer's agent will be able to notice things that you might not immediately pick up on when you first walk into a home. This could greatly simplify your home search. Plus as you work together more, a buyer's agent will be able to narrow down your search to get you closer to your goal, faster.
5. A buyer's agent will keep you on track
Need preapproval? Need financing? Don't know the difference between earnest money and a down payment? Does this all sound like a foreign language? Hire a buyer's agent! Not only will they be able to help you through the financing process but they'll be able to keep you on track so you don't miss a deposit deadline.
6. A buyer's agent will negotiate for you
As we mentioned, a buyer's agent has your best interests at heart. This is most important at the closing table. A buyer's agent will negotiate for you throughout the closing process as things come up, and they will. A buyer's agent also has experience with real estate contracts and access to any additional resources needed such as their managing broker.
There are very few things in life that are all upside with no downside. Hiring a buyer's agent is one of them. When hiring a buyer's agent, make sure they are an expert in the area you're interested in. Remember, you'll be spending a lot of time with your buyer's agent. Hire someone who's both qualified and who you wouldn't mind spending a lot of time with!
Looking in Boca Raton/Delray Beach? Our team Buyer's Agent, Teri Jacobsen
, would love to work with you!