A house purchase is an exciting experience that buyers need to prepare for! Making a mistake in the homebuying process could lead to future problems whether you’re shopping for houses or getting a mortgage. A majority of home sellers will have an agent representing them. This agent is often called a sellers agent or a listing agent and they are responsible for protecting the seller’s best interests.
How can a buyer ensure their best interests are protected? A buyer’s agent is a simple way to protect your best interests and they are an important asset to have by your side when you buy a home. For example, if you are wanting to buy a home in Greenville South Carolina, a Greenville SC buyer’s agent will ensure that you receive the best possible deal as the buyer because they are looking out for your best interests. Here are the top reasons to hire a buyer’s agent when you are ready to buy a home.
There Are Little to No Costs Involved
A buyer’s agent is a free service that can be very useful in buying a house. It is rare that a buyer’s agent costs money!
A buyer may have to pay a commission to a buyer’s representative if they purchase a for sale-by-owner (FSBO) home where the owner is not willing to pay the commission to the buyer’s agent. Although it is rare for FSBOs to refuse to pay a commission, it does happen. However, it is important that you do not just hire any buyer’s agent.
When you consider hiring a buyer agent, it is important to remember that they will protect your best interests during one the largest transactions you will ever make.
Buyer’s Agents Are Professionals at Viewing Homes
No matter if you are buying your first or fifth house, there is a good chance you don’t actually look at houses every day. A good buyer’s agent will be physically visiting dozens of houses every week. It can be hard to be aware of certain red flags that can pop up when purchasing a house. A skilled buyer’s agent will quickly spot those potential problems in a house. A buyer agent can also identify pest problems, roof problems, leaks, and more!
They Are Experts in the Local Real Estate Market
Every real estate market is unique. There are many factors that can affect real estate markets. When buying a house, it is important to understand the local market.
When it comes time to offer on a house, a buyer agent who is familiar with the local market can be a great help. As a buyer agent, it is highly recommended that they have previous experience in selling houses in the local area. If you submit an offer that isn’t in line with local house values, it could cost you thousands of money to hire a local real estate agent.
Buyer’s Agents Also Have Knowledge in Financing
Real estate financing can be confusing and complicated. A buyer’s agent can help you evaluate and secure the best financing to suit your needs. A buyer agent can assist you in choosing the best type of mortgage and get you in touch with a good mortgage broker. When you are looking for financing, it is important to remember that you should use a local mortgage company. Local mortgage companies are familiar with the process for real estate transactions, as well as any local regulations.
They’ll Handle the Showings For You
A buyer’s agent is responsible for the coordination of buyers’ showings. This is one of the most neglected tasks. It can be difficult and confusing to coordinate showings.
A buyer’s house search can lead to multiple showings in different cities at different times. A buyer’s agent will help you view any potential properties that are available if you’re interested in buying a house. It may take a dozen calls to find the best route and provide all the relevant information without having a buyer’s agent by your side!
They Know How to Write Real Estate Contracts
It’s unlikely that you are familiar enough with navigating a real estate contract, even if this is your tenth time buying a house. A buyer’s agent is a professional who has gone through real estate school and understands the intricacies of real estate contracts when you buy a house.
A real estate contract has many components. You should consider including real property contingencies in your purchase offer. There are also deadlines that must be included in a contract.
An experienced buyer’s agent will be able to help you write a contract that presents your best side to a seller. When buying a house, a poorly written real estate contract or one with missing or unfilled areas are the most common reasons for rejection.
A Buyer’s Agent Has Access to Other Real Estate Professionals
There are many professionals needed during a real estate transaction. A mortgage originator, home inspector, real estate attorney and other professionals are all necessary when you buy a house.
A buyer’s agent can recommend professionals to you when you buy a house such as law firms, mortgage companies, and more. They should recommend professionals who provide high-quality services and are willing to work in your best interests throughout the home buying process. When interviewing buyers agents, one of the most important questions is whether they have a recommended list of service providers; they should be able to provide multiple from a few different categories.
A Buyer’s Agent Will Act As Your Negotiator
The amount of money that should be offered to buy a house is one of the most frequently asked questions that homebuyers have. The best thing about hiring a buyer’s agent is the fact that they will negotiate on your behalf! A top-notch real estate negotiator is crucial depending on where you live and what the market is like in your area.
If you are trying to buy a house that is too expensive, the buyer’s agent must be able to know what is included in purchasing a home that is overpriced such as a comparative market analysis to prove the house is too expensive or structuring the contract dates in a way that appeals to the seller. You will need to negotiate the terms of your purchase on your own if you don’t hire a buyer’s agent.
They Will Ensure the Process Stays on Schedule
Real estate transactions can be delayed, but that doesn’t make them acceptable. Any delay in a real estate transaction can be frustrating for all involved, particularly the seller and buyer. Hiring a buyer’s agent will greatly improve the likelihood that your real-estate transaction will run on time and will help you avoid any reasons for the closing being delayed.
The buyer’s agent is responsible for ensuring that the contract dates (such as a written commitment to a mortgage) are met. Closing delays can also be caused by delays in ordering appraisals or in the completion of an instrument survey. A well-organized buyer’s agent will have a system that prevents delays due to these things.
Having a Buyer’s Agent By Your Side Can Prevent You From Making Emotional Decisions
Purchasing a home can be very emotional, especially if it’s a home you really love. A buyer’s agent is a great option for those looking to buy a house because they can act as an emotional filter.
A buyer’s agent doesn’t have an emotional attachment to the property that you are interested in. This can prevent you from making spur-of-the-moment decisions based on emotions. You will ultimately make the final decision; however, a buyer’s agent can help you weigh the pros and cons of potential properties while taking emotion out of the decision.
Conclusion
A buyer’s agent could be just the person to help you buy the home you have been dreaming of. They are a valuable asset that you can’t afford to ignore and are a bit different than a traditional real estate agent. Do some research on reputable buyer’s agents in the area you are interested in buying a home and give them a call today! You won’t regret having them by your side during the homebuying process.