Top 6 Reasons to Use a Buyer?s Agent
When Purchasing Your Home
Purchasing a home is a big step and a big decision. The average person spends around 1/3 of their income on their home. The home that you choose has a big impact on your life, and can have a big impact on your finances as well. Buyers should not go it alone because of the possibility of mistakes. A good Buyer?s Agent is invaluable to a buyer, and can be the difference between a wonderful transaction and an awful nightmare.
1. Full Access to the Multiple Listing Service (MLS)
The multiple listing service (MLS) is a powerful tool that only Realtors have access to. When listing agents market a home for sale, they typically allow any Realtor to present the home to potential buyers, and to present contracts for purchase. The MLS is a database of all homes listed by Realtors, and represents approximately 99% of all homes for sale in any given market. As technology advances, so does MLS. It has evolved into an extremely powerful search engine. Your Buyer?s Agent can enter in your search criteria and it will return only the homes that match those specific parameters. Buyers can find a lot of this information online through IDX feeds available on many websites, but this information is a ?watered down? version of the MLS. It is because the IDX search engines are not as powerful and don?t return the same detailed profiles as the MLS system.
2. Maximize Your Time
While driving neighborhoods is an excellent idea to help you decide which locations you prefer, it is not a very efficient way to find your new home. Gas is expensive and your time is valuable. Your Buyer?s Agent will listen to your needs, make fantastic suggestions based on your likes and dislikes, and provide you with homes that match all of your wants and needs. Your Buyer?s Agent has helped many new homebuyers through many purchases. They are here to help you better organize your search and decision making process. This will save you valuable time and resources.
Listing Agents enter into legally binding agreements that require them to ALWAYS act in the best interest of the SELLER. They are the seller?s ?coach? and will make sure that their client?s needs are looked after. Luckily, your Buyer?s Agent is there to make sure YOUR best interests are represented. With your expert Buyer?s Agent in your corner, you can be assured that you are on even ground ? or better ? with the Seller. Your Buyer?s Agent will be there all the way from contract to closing.
The MLS maintains a record of all homes listed by Realtors in a given market, as well as the sales prices for all of those homes. Your Buyer?s Agent will run a Comparative Market Analysis (CMA) to determine a prospective home?s Fair Market Value. Your Buyer?s Agent will look at similar homes in the same neighborhood that have sold recently and compare the sale prices to the current listed price to see if the home is listed fairly. If the price is over the Fair Market Value, your Buyer?s Agent can assist you in making a lower offer, and have the data to back it up so the offer will be accepted.
The average person buys 3-5 homes in their lifetime. A good Buyer?s Agent will assist in 3-5 home purchases every month. What might seem complicated and intimidating to you is fairly common and familiar to your Realtor. Your Buyer?s Agent will know what to expect, and will know when to alert you if anything out of the ordinary occurs.
6. Peace of Mind
If you are like most people, your home is the largest purchase you will ever make. The average person spends around 1/3 of their total monthly income on their home. This is a big decision and you don?t want to go it alone. When you use a trusted Buyer?s Agent, you know that your best interests are accounted for, and that you can feel confident in your purchase.
Purchasing a home can be a fun and exciting process! However, it can also be intimidating and mistakes are possible. A Realtor who specializes in working with Buyers can help alleviate the fears and possibilities of mistakes. An Accredited Buyer?s Representative (ABR) has been specifically trained to represent the Buyer through the entire purchase process. Make sure to use a Buyer?s Agent, especially someone with the ABR designation, on any real estate transaction.