What a Buyer’s Agent Can Do for You
Buying a home is a major endeavor. A successful real estate transaction requires knowledge and experience. Learn how a Buyer’s Agent can help
Purchasing a home is one of the most complicated, important, and expensive decisions you’ll make.
However, for most people, house hunting means navigating uncharted territory. In 2020, experts predict saturation of the real estate market, leaving homebuyers with fewer options, and one in four offers ending in bidding wars.1 In today’s market, buyers’ agents are essential to alleviate uncertainty and stress by guiding you from start to finish. Solely representing the buyer’s best interests, here are some ways buyer’s agents can assist:
Buyers’ agents advocate for other professionals essential to purchasing a home. Their connections make it easier and faster for you to connect with reputable mortgage brokers, home inspectors, and lawyers.2
2. House Hunting
Agents help you set an appropriate budget and arrange appointments to tour homes. If you are unfamiliar with the area, your agent can provide information on surrounding neighborhoods, which will enable you to make an informed decision about the location.
3. Offer Negotiation
Great news, you decided on a home! When it’s time to present an offer to the seller, knowledge is power. Your buyer’s agent can save you money by recommending a reasonable price based on features in the house and similar homes in the area. Your agent is responsible for negotiating and writing up the contract as well as helping you with loan applications. According to the National Association of Exclusive Buyer Agents, their agents keep sellers “unaware of the price buyers are willing to spend” and “for this reason alone, it is very common to save thousands of dollars during the critical negotiation process.”3
4. Unexpected Complications
As with any financial transaction, challenges may arise. Whether you enter into a bidding war or the house inspector finds unexpected issues, your agent will guide you through all the twists and turns. Before you know it, you will be handed the keys to your dream home!
1 “Redfin Predicts Homebuyers Will Have Fewer Options, Bidding Wars Will Rebound in 2020,” prnewswire.com, 2019.
2 “What Is a Buyer’s Agent? A Trusted Guide Who’ll Help You Find a Home,” realtor.com, 2019.
3 Why Use an Exclusive Buyer Agent,” naeba.org, 2018.