20 Reasons Why A Buyer Needs Their Own Agent

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Real Estate

Hello & Welcome Back to #FabulousFriday!  In a competitive housing market like today’s, the process of buying a property can be quite daunting for prospective buyers. The stresses, hurdles, and time it takes to find a property that meets your preferences, budget, and goals can quickly feel overwhelming. While some people may choose to buy a home on their own, it can be useful to get professional help along the way. This is where buyer’s agents come in.Buyer’s agents are a way for prospective buyers to find their desired home or property at the best price, while taking the work out of different steps of the purchasing process.  In fact, if a buyer looks at a home with the listing agent, the listing agent is actively looking out for their client---the seller.  That means a buyer without representation can be at a significant disadvantage.  

So what does a buyer’s agent do and are they worth it for your budget?  Here's 20 Reasons you need a buyer's agent to represent you:

1. Educate the buyer during an initial counseling session and outlining the steps necessary for executing contracts and addenda.

2.  Explain agency relationships to the buyer and their rights and duties for the buying process.

3.  Inform the buyer of working relationships based on local and state regulations and disclosures necessary pertaining to the property and locality.

4.  Collect the data regarding the buyer's want and non-negotiable needs to acquire the desired property.

5.  Understand the buyer's budget and what will be needed financially

6. Help the buyer understand what property their chosen budget will buy and educate on current market trends.

7. Completing a home buyers checklist to address the buying process.

8. Assist the buyer in examining how much they can afford to spend.

9. Provide the buyer with the ability to locate suitable properties for consideration.

10. Match the buyer’s needs with available properties.

11. Constantly re-evaluate buyer’s needs and refocus property showings to fit those needs.

12. After ensuring the buyer understands the rights, opportunities and duties and the benefits to them, obtain signatures on the buyer representation agreement and local disclosures.

13. Explain how compensation is paid, who pays it, and what the buyer’s options are based on state law, and local regulations.

14. Explain Federal and State Fair Housing laws and the rules as they relate to residential real estate purchases.

15. Explain what to look for in applicable property disclosures.

16. Maintain confidentiality pertaining to the buyers personal information. 

17. Inform the buyer that you will disclose all material defects that become known to you.

18. In accordance with state law, provide information on how and where to check the sex-offender registry and crime statistics for the neighborhood.

19. Discuss available resources that the buyer can check to learn more about prospective timelines for house hunting, mortgage approval, and closing.

20. Explain how federal, state and local markets impacts the buyer regarding price, availability and selections options for purchasing real estate.

Contact us today to connect with one of our friendly helpful Shaffer agents.  We look forward to serving to you soon!  Warmly, Susan