Buyers Agent? Do You Really Need One?

Is now the best time to buy in 20 years for Real Estate? Many industry experts are saying yes it is and that you still should be an informed buyer.

While the internet can provide you a tour of nearly all the homes on the market and certainly give you a sense of what is available and what is a good value it is still a good idea to seek some expert advice.

Starting Your Real Estate Search

The internet is the most widely used tool by today's home buyer. Several websites offer features where you can see listed homes, addresses, pictures, virtual tours and maps of nearly every listed property.

A search saver feature should allow you to search throughout the real estate listings at your leisure, save a search of your favorite properties and log back in any time of day.

Enlist a Buyers Agent

Pick an agent that will take the time to work with you, answer questions and never give you any pressure or timeline to buy.

Learn about financing options right away.

Get pre-approved for a mortgage. A good lender will help you take an honest look at your budget.

Create a list of wants and needs for your new home.

Start a search for homes with your agent and get out looking.

Many home buyers believe that if they work with the listing agent they can save money. This is a big misconception. The listing agent represents the sellers best interest not you as the buyer.

Typically, a seller will have an agent involved in helping them negotiate the sale price of their home. This is why you need a buyers agent on your side. You need them to negotiate the best price and terms.

In real estate everything is negotiable and having a knowledgably buyers agent in your corner can help you make a strong offer without having to over pay for your new home.

A buyers agent has a fiduciary responsibility to you. Your agent should always answer questions about recent sales in the neighborhood, how many days has the home been on the market and any neighborhood facts that may affect your quiet enjoyment of the home.

How does your agent get paid? The seller of the home almost always pays the commission. The only way a buyers agent gets paid is upon a successful closing.

Most brokerages will have the buyer sign what is called a buyer compensation disclosure. In a market filled with desperate sellers it is a good idea to know that your agent is not steering you to higher paycheck for themselves.

Buying a home is maybe the largest financial transaction you will ever undertake. The process can be lengthy and sometimes confusing, and not having a buyers agent guiding you through the process can be a costly mistake.

According to a recent report by the National Association of Realtors, 86% of homebuyers reported difficulty and confusion in the home buying process.

Don't let yourself be one of the eighty six percent. Get a buyers agent that can make your home buying experience as easy, educational and enjoyable as possible.

Article Source: http://www.propertymagnate.com/articles

Kevin Curtis is a licensed agent with RE/MAX Advantage Plus. He is The Minnesota Real Estate Team's 2007 Agent of the Year. Kevin and his team provide great service and ongoing insights into the Minnesota Real Estate market at MinnesotaPropertiesOnline.com.

Please Rate this Article 5 out of 54 out of 53 out of 52 out of 51 out of 5  Not yet Rated