Why Work With A Buyer’s Agent
September 23, 2020by Sarah Day
With all the
real estate sites and apps available to you for free you might start looking
for your next home on your own; however, I highly recommend working with a
buyer’s agent when the time comes to actually start the home buying process. Working
with a trusted buyer’s agent will ensure that you have an experienced advocate
during the process. The best part? A buyer agent’s commission is paid for by
the seller at closing – this is a FREE service to you as a home buyer. With
this in mind, there is no good reason to not work with a buyer’s agent.
Buyers have
shared lately that our current market conditions are overwhelming. Some have
even said they are intimidated to put in an offer due to the fear of ending up
in a multiple offer situation. Market conditions like this, where we do still
have high buyer demand and low inventory, are an especially important time to
work with a buyer’s agent. An agent can help you move quickly on properties and
provide recommendations for how to make your offer as competitive as possible.
What are
some other benefits of working with a buyer's agent?
- Your agent is going to be aware of things that aren’t readily accessible to you through free real estate websites and apps. For instance, accurate listing price and recent sales data for the area – which will be able to help determine what price you should consider offering for a specific property.
- A buyer’s agent will be familiar with the current inventory, market trends, requirements and procedures. They will act in your best interest to guide you through the process so that you can focus on what’s most important – successfully completing your personal real estate goals.
- Real estate transactions include multiple forms that can be confusing. Your agent can answer questions you have regarding these forms, make sure all the necessary forms are completed and also help with the nitty gritty of actually filling them out.
- Buy-Sell Agreements (contracts for purchase) typically include multiple contingencies and contingency release dates. Your agent will be there to watch these dates and make sure nothing is missed. An example of a contingency is the home inspection contingency. Depending on the property and your personal goals, your agent can help determine what inspections you should consider as well as coordinate scheduling.
- Unless you are paying for the property in cash, you will also be working with a lender. Your agent and lender should work together as a team. Your agent will periodically check in with the lender to make sure things are on track and can often help resolve anything that comes up regarding the property during the process.
- A buyer’s agent can also be a great resource for getting to know the area. If you’re new to the Gallatin Valley you might be looking for recommendations for restaurants, shops and local activities etc. Your agent can provide recommendations and insight – regardless of whether you’re asking during the home buying process or months after – they’re here to help you get to know the area.