When you call the number on the For Sale sign, you are calling the person who represents the seller. The seller’s agent’s job is to SELL that house for the HIGHEST possible sale price. If you are serious about purchasing a home, it is best to find a Realtor who will agree to represent you exclusively.
Misconception: A buyer’s agent is expensive
Reality: Buyer representation is FREE to the buyer. When a seller contracts with a listing agent, the seller is agreeing to pay a total commission to the seller’s agent. When a seller’s agent enters a listing in the MLS, that agent is agreeing to cooperate with whoever represents the buyer and therefore will pay the buyers agent from a portion of the total commission.
Misconception: I will save money if I do all the legwork myself
Reality: You can run yourself ragged calling different signs and trying to coordinate your own showings with the various sellers and agents. You will want to look at many many houses before making a decision. By retaining a buyer’s agent, you will have someone to who can coordinate multiple showings in a short period of time on your timeline. If you call the agent for each individual listing you will have to work on their timelines and meet them at the property when it is convenient for them. What do you save by coordinating your own showings? NOTHING. What does the seller’s agent gain? DOUBLE COMMISSION all while performing her fiduciary responsibility to the seller and providing no representation to you.
Misconception: All the information I want is on Zillow, Why do I need a Buyer’s Agent?
It is true there is a ton of information on the web. But when you are about to make the BIGGEST investment of your life, you need more than information. You need KNOWLEDGE. You can check the Zestimate. But did you know that on a 4-Star rating system Zillow only gives itself a single star on its ability to predict value? A buyers’s agent can help you find true comparable properties and recommend a negotiation strategy based on recent data. Can Zillow, write a persuasive letter to the seller and seller’s agent explaining why the listing price is too high? No, but your buyer’s agent can! (Please ask me for an example of how I use recent and accurate data to support my client’s offer price)
A good buyer’s agent will not SELL you anything. A good buyer’s agent will help you evaluate the inventory, teach you what to look for in each house and use all the tools in her arsenal to help you negotiate the best price and terms for you. Once under contract a good buyer’s agent will suggest inspectors and mortgage brokers and can help you evaluate insurance options. A good buyer’s agent will get you from contract to close seamlessly all while paying attention to contract details and timelines and keeping your earnest money safe. A good buyer’s agent will not rush into a sale but will help you find the right home.
Interview several agents and ask a lot of questions. And, please, put me on our list. I regularly meet with prospective buyers for a FREE buyer consultations.
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