Why You Should be Working with a Buyers Agent
If you had the option and there was no additional cost,
would you choose to save time, money, and reduce stress when buying a house in
Southern California? Most people would, which is why most people choose to buy
with a buyer’s agent when buying property.
What Is A Buyer’s Agent?
A buyer’s agent is a real estate agent specializing in:
- Finding a home for your budget
- Finding the right home location for you
- Looking out for the buyer’s interests throughout the negotiations and closing of a home sale
In addition to these fundamentals, a buyer’s agent
actually does much more for their client than just the negotiating. Before
breaking down all the benefits of working with a buyer’s agent when buying a
house, we need to clear up some confusion that sometimes arises around the
terms used to refer to the different parties involved in a typical real estate
transaction.
What Does the Term “Buyers Agent” Mean?
You may encounter the terms, “buyer’s agent” and “selling agent,” used interchangeably. In
actual fact, the buyer’s agent may be referred to as the selling agent once the
contract is signed. Here’s the reasoning behind this potentially confusing name
change: Your buyer’s agent may be referred to as the “selling agent” because
they brought in the buyer who agreed to purchase the property.
Luckily the agent listing the property and representing the seller will always be referred to either as the “listing agent,” or, “seller’s agent.”
Buyer’s agent = selling agent
Listing agent = seller’s agent
Now that we’ve cleared up any confusion around the terms,
let’s get down to all the benefits of working with a buyer’s agent when buying
a house.
Working With A Buyer’s Agent Benefits You Financially
Working with a buyer’s agent when buying a home is absolutely free. Not only does it not cost you money, but it can also save you money.
Many people think that not using a buyer’s agent will save them money. The norm in North
America is for the seller to pay the buyer’s commission to the real estate
brokerage.
Below are 5 outstanding reasons why you may want to consider taking advantage
of this free service and working with a buyer’s agent when buying a house in
Southern California.
Buyer’s Agents Are A Wealth Of Information
Buyer’s agents bring a wealth of knowledge, experience, and insights to the negotiating table. They can leverage that knowledge not just during negotiation but when it comes to virtually all parts of the home-buying process. A good buyer’s agent will answer your questions about housing laws, market conditions, neighborhoods in the city you’re buying in – practically anything related to real estate in the area.
The buyer’s agent is there to equip you with accurateinformation to help you make the best-informed decision. If your
agent doesn’t have a comprehensive answer on hand, they’ll do the necessary
research to inform you.
A Buyer’s Agent Saves You Time
Money isn’t the only thing a buyer’s agent can save you. All of the knowledge they command is instantly accessible to you when you work with an agent. Instead of spending hours previewing homes and reviewing listings, you’ll get all the homes which meet your needs from your agent. As an added bonus your agent is likely to have local knowledge and can advise you regarding:
- The Neighbourhood
- The community a listing is located in
- The Projected value of the home
- The condition of the home
A buyer’s agent will also handle mundane tasks like
writing up offers, and dealing with contracts. These tasks add up. The time you
save can be reinvested into finding the perfect home or simply going on with
your life.
Your Buyer’s Agent Gives You Access to More MLS Listings
Although everyone can access public MLS listings, buyer’s agents like our own give you access to coming-soon listings before they hit the market. They’ll also give you access to exclusive listings which aren’t advertised to the public.
Your agent can also help you navigate and search the database more effectively.
They’ll find out what you’re looking for and use their understanding of the MLS
Database to help you find it using custom criteria.
In addition to the publicly-available MLS database, buyer’s agents can give you
information from a Realtor’s database that isn’t accessible to the public.
Your Buyer’s Agent Will Handle The Paperwork
Any real estate transaction involves paperwork and lots of it. Your buyer’s agent will handle all of it, from drafting the offer to going over the closing documents and title work.
Each of these documents must be perfect, and your buyer’s
agent will make sure they are. They can also answer any of your questions
regarding these legal documents.
Perhaps most importantly, you can rest easy knowing all
of the necessary real estate documents are submitted before deadlines when you
work with a buyer’s agent.
A Buyer’s Agent Looks Out For Clients
When you go into the housing market with a buyer’s agent, you have a knowledgeable professional on your side, guaranteed. Buyer’s agents have an ethical and legal duty to look out for you.
Your agent must not disclose your confidential information, must stay loyal to
you, promote your best interests, disclose any known material facts, and
account for any money they may be handling during the course of your real
estate transaction.