Byers Team, Author at Byers Team

Thanks to the internet, we live in an age with an almost infinite amount of information at our fingertips. Websites like Zillow, Trulia, and Realtor.com are custom made for home buyers and sellers to do their own research. Because of this access, some potential home buyers believe that they no longer need a buyer’s agent. A buyer’s agent is pretty much exactly what it sounds like. It is a real estate agent that can help a buyer find and purchase a home.

Here are five ways that a buyer’s agent can bring value to your home search:

#1 They’re pros (literally) at shopping for homes.

An experienced real estate agent will know what to look for when shopping for homes. They can point out red flags that you may not know/remember to look for. Some of these items include: hazardous power lines or trees, construction, busy streets, noisy neighbors, etc. They can also point you to the nearest schools, shopping centers, freeways, and public transportation. If you really love the home, your buyer’s agent will know the right questions to ask the listing agent in order to submit the strongest offer.

#2 Three Little Words… “Off Market Deals”

Your buyer’s agent will have knowledge of “pocket listings” or “coming soons” that are not advertised or will not be advertised until a certain date. This gives you an advantage to preview the home before the general public. Depending on the strength of your offer, the home might never even make it to market before -BOOM- it’s yours! On a less dramatic note, sites like Zillow do not necessarily reflect the most up-to-date and accurate information. Agents need to manually go in and update the status of their listing, and sometimes (purposely or not) they leave a “sold” property marked as “active.” Your buyer’s agent has access to the MLS, where they can check the status of a listing in REAL TIME.

#3 Access to any home at any time.

With a buyer’s agent, you don’t have to wait until Sunday’s open house to view the home of your dreams. Realtors that are members of the local MLS (multiple listing system) have access to lockboxes in the county(ies) they are registered. Typically, a seller will keep a key in the lockbox that real estate agents can access when they are doing private showings. These showings can be set up with as little as 1 hour notice or sometimes even immediately! If you are coming from a distance, it is a good idea to set up a few properties to be seen during a larger block of time so you don’t have to make multiple trips to the area. A good buyer’s agent will do their best to accommodate you and what works best with your schedule.

#4 It’s FREE to you as a buyer!

A broker’s commission is negotiated at the time the selling agent takes a listing. That commission is, generally, then split in half: 50% to the seller’s agent and 50% to the buyer’s agent. The seller is entirely responsible for paying the commission to both the listing and buyer’s agent.

#5 Loyalty and fiduciary duty to YOU.

It is always great to have someone on your side (in any situation). Your buyer’s agent will look out for your best interests throughout the entire process, from searching for properties to negotiating the contract and closing of escrow. Your buyer’s agent has a fiduciary duty to you and is your trusted adviser for what will probably be your biggest and most important investment. Your buyer’s agent is there to add value to your life. Now go out there and find a good one!

Rule #1: Know what you can afford.

Before you make an offer to buy a home you should first speak with a mortgage professional. This is important for two reasons. The first is that you will have an idea of the size of loan that you qualify for and what you can afford. The second is that sellers will take your offer more seriously if you are pre-qualified for the loan necessary to close the transaction. Without a pre-approval letter, sellers may not consider your offer legitimate. In a competitive real estate market, bidding wars are common. If you know what you can afford and you understand what your maximum price is, you will be in a position to close if your offer is accepted.

Rule #2: Don’t sacrifice too much just to get your offer accepted.

Inspection contingencies exist for a reason. Most sellers would prefer to sell their home without contingencies, but that does not mean that you should buy a home without doing your due diligence. If you waive your inspection contingency, you are making a huge gamble. You may think that you are paying one price to purchase the property, but you may end up spending much more than expected if you find damages to the property that would have been found in the home inspection. You should know what you are paying for. Get a home inspection.

Rule #3: Know what the house should sell for.

Buying your home at the right price is crucial to its long-term investment value. You should evaluate the comparable sales in the area and determine the top price that you should pay. If you are working with a Realtor they should provide this for you. Once you determine what the home should sell for, you can make an informed decision on what you want to offer. However, in highly competitive offering environments, you may have to pay more than you believe the home should sell for.

Rule #4: Put your best foot forward.

Selling a home can be a very emotional experience and often times sellers want to sell their home to someone that will appreciate it like they did. This means that if you happen to meet the seller, it would not be a good idea to explain how you are going to gut the house and start over. Instead, you could explain how excited you are to make the house your home and how comfortable you are going to be in it. Furthermore, never underestimate the power of a heartfelt letter to the sellers.

5 Reasons to Use a Buyer’s Agent