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7 Reasons to use a Buyer’s Agent
Did you know that the average person spends about one third of their income on their home? Buying a home is a big decision and can have a huge impact on your life and finances. There are a lot of mistakes that you can make along the way if you don’t know what you’re doing. That’s why a good Buyer’s Agent is invaluable to a buyer and can be the difference between a smooth transaction and a mine field.
1. Access to MLS
Only a licensed Realtor has access to the Multiple Listing Service (MLS). The IDX feeds that are found on many websites can give you a lot of information but they are often out of date and do not provide as much detail as a Realtor can acquire through MLS.
2. Make Better Use of YOUR Time
You may enjoy driving through neighborhoods to help you decide which ones you’d prefer to live in, but its not a very efficient way to find your new home. A good buyer’s agent will know the neighborhoods in your area, will preview properties and based on your preferences can bring you a list of homes to view that match your criteria, sparing you wasted time and wasted gas! $$$
3. Representation
When a listing agent enters into an agreement with a client, they are then legally bound to always act in the best interest of their client, the seller–not you the buyer. A buyer’s agent has the same fiduciary responsibility to their client, the buyer. Going into contract negotiations without representation can be risky.
4. Negotiating Power
Using the information found in the MLS, your agent will run a Competitive Market Analysis (CMA) which will compare similar homes that have recently sold in your area to determine what the Fair Market Value (FMV) is and whether or not the home is priced fairly. If the home is priced above the FMA, your Buyer’s Agent can present an offer under the asking price with plenty of ammo to back it up and greater chance that the offer will be accepted.
5. Knowledge and Experience
What may be confusing and complicated to you will be just another day for your Realtor. They know the process and what to expect and know when to alert you when something out of the ordinary happens.
6. Industry Contacts
Closing a real estate transaction takes a lot of people. A good agent will have a trusted team of resources available to you including loan officers, title companies, inspectors, insurance contacts, general contractors, painters and more. You can feel confident you’ll have the support of trusted and proven professionals throughout the transaction all the way to close.
7. Peace of Mind
Purchasing a home will probably be the largest purchase you ever make. Its a BIG decision so you don’t want to go it alone. Using a trusted Buyer’s Agent you will feel confident that your interests were protected throughout the transaction.
