Since becoming an agent I have heard over and over that people don’t see the need for hiring a real estate agent when buying a home. Most of the time, I politely explain the benefits of having someone on your side. The hope is some of what I’ve said resonates. Now I’m going to spell it out loud and clear why it is a huge benefit to have a buyer’s agent involved in your home buying experience.
6 Reasons you need a Buyer’s Agent:
- Knowledge. – A real estate agent is an agent because they have the proper knowledge base for that specific field. They have taken classes, passed exams, become licensed, and work for a brokerage. They are knowledgable in their field. Why would you not want to take advantage of their knowledge? Would you walk into a courtroom without a lawyer and work with the opposing side’s lawyer instead? I don’t think so. Buying a home is literally one of the biggest legal and financial obligations of your life! Use your resources!!!
- Priority. – Let’s be clear. When you work with a seller’s agent you are working with the other team’s coach. If they’re a good coach they will be helpful, but ultimately their number one priority is the seller. Let me repeat that for those in the back, THE SELLER’S AGENT’S NUMBER ONE PRIORITY IS THE SELLER! When you hire a buyer’s agent you have someone who has your best interest as their number one priority. See how that balances things out and gives you a bit of an edge that you otherwise wouldn’t have?
- Money. – A lot of the time the buyer’s agent doesn’t cost you a thing. In almost all transactions, the buyer’s agent’s commission is covered by the seller. How is that possible? The seller allots a certain amount of commission to their agent and a buyer’s agent. *Be aware, not all agents are created equal and not all transactions will result in not having to pay your agent, so make sure you talk to whoever you’re working with for clarification.
- Accessibility. – So we all know home shopping sites, right? They’re fun and colorful, easy to use, and they make you think you should buy that $600,000 home outside your budget because the payment calculator doesn’t look so bad… Think again! Don’t fall into the trap of false hopes because you’re on a site built to entice you. Your buyer’s agent has access to real time listings through their MLS, which is something you don’t unless you’re an agent.
- Contacts. – Sure you can head over to Google and search up home inspector, lender, etc., however you’re missing out on a valuable aspect of having a buyer’s agent. Most agents have a team of people they have worked with and trust in different areas of the home buying process. Why not take advantage of their knowledge instead of winging it and hoping you’ve found someone decent?
- Offers. – Writing an offer is a delicate and legally binding matter. Your agent knows their forms, they know how to write the offer with your interests in mind and they know how to negotiate with the Seller’s agent. You might think you’re benefiting yourself by trying to go at it alone, but believe me, having that agent with you to communicate and negotiate is far more lucrative.
In conclusion, not having a buyer’s agent is flippant and automatically puts you at a disadvantage, especially if you’re a first or second time home buyer. Don’t set yourself up for failure by forgoing the resources a buyer’s agent can offer.
My best advice to anyone selling or buying a home is to interview your agent. Meet with more than one and find someone that you feel you can trust and that fits with your personality. I think a lot of issues arise from not finding the right agent. Buying a home is one of the most financially impactful experiences of your life, so use your resources and make good decisions. Good luck out there!