Why Use a Buyer’s Agent
Buying a home is one of the biggest financial decisions of your life and a buyer’s agent can help you navigate the process with ease. Buying a home is a serious financial transaction with emotional ramifications for all parties involved, and having proper representation is critical. Here are six important reasons to have a buying partner who is a licensed Realtor on your side:
Accurate Search Power
Real estate is a local business and the only way to determine the fair price of a home is to analyze the price at which similar homes recently sold in the same neighborhood. While there are a variety of online resources for finding homes for sale such as Zillow, it’s impossible for Zillow to accurately analyze comparable properties as this involves examining a range of factors that Zillow has no knowledge of….factors such as exact location, views, condition of the property, upgrades, schools, geological factors and other things that Zillow has no way of knowing. While many buyers look to Zillow for this information, Zillow does not have access to the complete range of factors that influence home prices in the Los Angeles area. So a “Zestimate” is rarely accurate.
As licensed Realtors, we are keenly aware of the local market and the subtle factors that influence property values. In addition, we have access to the local Multiple Listing Service (MLS), which provides current as well as historical data on specific properties which gives us a complete perspective when comparing properties.
Representation
A good buyer’s agent has your best interests at heart. Unless you are buying a property directly from a ‘for sale by owner’, the seller has professional representation on their side. By negotiating directly with the seller’s agent you are putting yourself at a severe disadvantage since their agent is legally bound to share everything you tell them in order to get the best deal for their client.
No Fee to Buyers
The sellers pay the buyer’s agent commissions, not you.
Real Estate Experience
Realtor® expertise and training comes into play when we are negotiating on your behalf. We often have intimate knowledge of the pros and cons of similar homes that recently sold that can no longer be seen online. Once you are under contract to purchase a home, a buyer’s agent will help you locate a great inspector, negotiate repairs with the seller, get estimates from trustworthy contractors and obtain financing from the most reputable lenders.
Understanding the Language
Buying a home is complicated and requires dozens of forms, reports, disclosures, and other technical documents full of acronyms and jargon. A good buyer’s agent has the expertise to help you navigate through the terms, data and language —while avoiding delays or costly mistakes that can seriously cost you money, time and maybe even the home itself. Also, they must stay current with all the updates in regulations, laws, contracts and practices. Once you retain your Realtor®, they put that knowledge to work for you.
Licensing and Ethics
Not every real estate agent is a Realtor®, who is a licensed real estate salesperson who belongs to the National Association of Realtors®, the largest trade group in the country. Realtors® are held to a higher ethical standard than licensed agents and must adhere to a Code of Ethics.