Thinking of Buying? Why Hire a Buyer's Agent
Tuesday Mar 02nd, 2021Share
By: Fiona Flores-Lyons | 3-minute read
Buying a home is, without a doubt, one of the most exciting things to happen in life. However, it is also one of the biggest transactions that you will make in life. Real Estate Agents don't just handle the selling side of this process, they also help interested buyers navigate the real estate market.
Here are some of the benefits and things to consider when hiring a Buyer's Agent.
First and foremost, it's FREE...
Most of the time, the cost of using a Buyer's Agent is covered by the Seller, taken from the money they received from the sale. You won't have to budget any extra costs to cover fees for hiring an Agent.
Access to their Network...
Agents work hard to build a valuable network of contacts that cover all aspects of buying a home. They will be able to refer you for everything you need including, mortgage brokers, appraisers, lawyers, and even contractors!
Their knowledge and expertise...
Experienced Agents will be able to help you sort through all active listings on the market. They also know what red flags to look for when buying a house, many of which may not be noticeable to the untrained eye. Common things that Agents may be able to notice are;
- Pest/Insect Issues
- Potential Mold Issues
- Roofing Issues
An Agent is also very knowledgeable about their local real estate market. They have an in-depth understanding of the various areas and neighbourhoods in the city that they operate in. It is not uncommon for the real estate market to change significantly between neighbourhoods. For instance, the average price of a 2-storey house in one neighbourhood might be different in another neighbourhood. Therefore, working with an Agent might save you from spending thousands of extra dollars.
Offer and Negotiation Skills...
An experienced Agent is well acquainted with the offer and negotiation stage of the buying process. They know about all the possible conditions that can be placed on a contract, what the various sections of the contract entail, and any potential legal issues that can arise from a broken contract. When it comes to an investment this large, you'll want to have an experienced hand on your side.
They know how to handle setbacks...
After an offer has been accepted, it moves to the conditional stage. If something comes up during a home inspection or appraisal, a Buyer's Agent can help you figure out what your next steps are. It is helpful to have someone on your side, who is experienced, to guide you through this portion of the transaction.
At the end of the day, there are no major disadvantages to hiring a buyer's agent. Remember, the commission is usually paid out by the seller, so there are no extra costs on your end. This is a big investment, so make sure you consider all your options when it comes to seeking out some help!
If you are thinking of BUYING a home, contact Moe today! Ask about how he can help you move forward with your real estate goals!
Don't hesitate to get in touch with any questions you may have.