Buying a home is one of the most significant events in your life, especially your first home. Having a professional on-hand to look out for your best interests is essential. Without a buyer’s agent, you have no one looking out for your interests.
The seller/listing agent works for the home seller and the seller alone. Their allegiance is without question to the seller. There are many reasons to have a buyer’s agent on your side. Let’s look at some.
- It’s free.
The home seller pays a buyer’s agent once the home sells. The money is not coming out of your pocket.
- Your buyer’s agent can help you find a lender and advise you on potential loans.
Your buyer’s agent is an excellent source to help obtain the best loan for you. She has extensive knowledge of different financing options. She will save you an enormous amount of time finding the appropriate loan for your unique situation. You will understand the loan process.
Bonus tip: One thing to keep in mind about financing—it is typically best to work with a local mortgage company when possible. Local companies know the market you are in better than those without any local presence. They tend to be easier to work with and more likely to be helpful.
- Agents have to put you first.
In Colorado, a realtor has a fiduciary duty to the client, whether a buyer or seller. A fiduciary duty means the agent is legally bound to put the client’s best interest first. Having a buyer’s agent gives you that advantage.
- A negotiator on your side.
All good negotiators know the importance of knowledge to get the best results. Your agent knows homes and the market and will use that knowledge to your advantage. If you fancy yourself a great negotiator, ask yourself if you have this specialized knowledge or does the buyer’s agent.
A critical negotiating situation frequently occurs after the home inspection. If there are any significant inspection problems, you’ll want your buyer’s agent to help negotiate either a credit, price reduction, or repair. Negotiating after an inspection is squarely in the territory of a buyer’s agent.
Please protect yourself. Don’t go to the table without someone to represent you exclusively.
- The agent will take care of coordinating showings.
Coordinating showings with sellers and their agents is frequently time-consuming and frustrating. Especially in a market like Northern Colorado, where inventory is tight, and homes are selling fast.
Think of the agent as your assistant. Let her know when you are free, and she will do the rest.
- A buyer’s agent understands how to navigate real estate contracts.
Real estate contracts are confusing and difficult to understand. It is easy to become overwhelmed. An agent will show you the way thru the various agreements and paperwork utilizing their knowledge and experience.
Your agent will ensure you are on schedule with paperwork not to lose the home you wanted. Avoid possible legal problems by using a buyer’s agent.
Final Thoughts:
You will be glad you decided to ask for the help of a buyer’s agent instead of going thru the entire complicated, convoluted buying process on your own. They will back you all the way!