While some homebuyers prefer the convenience of shopping online for a new home, most of them still prefer to have a professional guide them through the details of the deal. Both options have their pros and cons, so the following article is right for you if you’re still on the fence.
A real estate agent can make the process of buying a new home much easier. Buyers need to know that there are two types of agents on the market, and there are differences between them. The buyer’s agent represents the homebuyer. On the other hand, the seller’s representative is charged with representing the seller, so if you have any questions to ask a realtor when selling your property, he’s the right person for the job.
In the following, we’re focusing on the pros and cons of having a buyer’s agent by your side when buying your new home.
Pros of Hiring a Buyer’s Agent
They Know What to Look For
You don’t go house shopping every day. However, a skilled buyer’s agent visits dozens of houses every week, gathering information and details about the properties. Because of that, they know the things to look at when viewing houses.
You should be aware of certain red flags when purchasing a house. An experienced buyer’s agent will quickly spot potential problems in a house and help you make a good decision.
They Understand the Local Real Estate Market
Every real estate market is unique and there are many factors that can affect it and cause sudden shifts. When looking at houses on the market, it’s important to understand the basics of local real estate.
This is yet another reason to hire a buyer’s agent. When it comes time to offer a house, an experienced agent who is familiar with the local market can be of great help. If you hire someone who doesn’t have an understanding of the local market, it can cost you thousands of dollars and harm the process of buying your dream home.
The Buyer’s Agent Coordinates Showings
A buyer’s agent is responsible for the coordination of property showings. This is one of the most neglected tasks but it can get difficult and complicated pretty easily if you’re not organized.
Hiring a buyer’s agent for house purchases is a great idea as they are organized and will coordinate viewings of potential properties. A buyer’s house search can lead to multiple showings in different cities at different times, so being coordinated and organized can help you so there is no confusion.
A buyer’s agent will help you view dozens of potential properties that are available if you’re interested in buying a house. This includes dozens of phone calls and setting the right route so that you can go through all of them in a short period of time.
They’ll Write the Real Estate Contract for You
A real estate contract has many components. An experienced buyer’s agent will be able to help you write a contract that represents you in the best way possible to a seller. The most common reason that a buyer is rejected from a deal to buy a house is that the contract is poorly written and missing essential parts.
Cons of Hiring a Buyer’s Agent
Buyer’s Agents Work for a Fee
Buyers and sellers often skip the real estate agent as they want to minimize their fees. But, if you’re not experienced in the real estate industry, you’ll pay a lot more without an agent.
You might have heard that the seller often pays the buyer’s agent commission, which is usually 2.25% to 3.5% of the total home price. However, the commission is often included by the seller in the final price of the house. Both the listing agent and the buyer’s agent split the commission, so technically, in the end, it is the buyer who is giving the payment to both agents.
You Cannot Find the Right Agent
The process of finding a buyer’s agent sometimes feels like looking for a needle in a haystack. However, if you eventually find one that understands your expectations, it’s worth sticking with them even if you experience difficulty and come across setbacks in the process.
Hiring a buyer’s agent is worth it because they are able to negotiate for you and can help you find the perfect home. They are professionals in their area and no one knows the real estate market better than them. When you find the perfect agent for yourself, stick to them and allow them to help you purchase the house of your dreams for the best offer.
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