5 Benefits of Hiring A Buyer’s Agent
More times than not when I’m in buyers consultation or have a inquiry about my services when representing a buyer, a big misconception is that as a buyers agent our services come with a cost. However, our services are actually free to the buyer as they are paid from the sellers brokerage. Here are the top 5 reasons why it is always in a buyers best interest to hire sole representation when purchasing a property.
1. Access to Professional Resources
During the course of a real estate transaction there are several professionals that are needed. When you’re buying a home you’ll need a mortgage broker or provider, a home inspector, a real estate notary or lawyer, trades peoples and a handful of other professionals. When you hire a experienced buyers agent these are the resources you can expect they will have. An experienced buyers agent will not only have reliable companies and professionals to help you during the purchase of you new home, but also after the purchase is complete.
Think of your agent as a one stop shop when it comes to a real estate transaction.
2. Providing Market Guidance
Experienced agents have a strong understanding of the market. You may feel you have kept up on the local real estate trends and prices however, your agent’s full time job is to track data on the local markets and target comparable properties for true value to make sure their buyers make strong and educated offers. Also knowledgeable agents will thoroughly explain the purchasing process and will not leave their buyers feeling uncertain or uncomfortable during the process so you can be confident in your purchase without feeling as though you missed prime opportunities or overpaid. Another benefit is you can rely on your agent to provide guidance beyond the purchase for reliable and sound advice in regards to market conditions and Real Estate related questions.
3. Writing Contracts
Having an agent that knows the ins and outs of contracts is very important. It protects you as the buyer and also will save you huge amounts of time and money. As well, knowing which clauses to add and when these clauses may be omitted, depending on the property is also an exceptional skill.
This also leads into writing highly competitive offers. The Buyers Agent can prepare a subject free offer, while greatly minimizing the risk to the buyer. This can be achieved by reading documents ahead of time, arranging for a pre-inspection and financing beforehand as well. Of course the risks to writing this type of offer would also be explained in detail, so the buyer can make an informed decision.
4. Reviewing Important Documents
A buyers agent‘s most underrated task is that they will read and review all pertinent info about the subject property. If it’s a strata property, all minutes, engineers report, depreciation report, AGM’s, SGM’s and other documents will be read thoroughly by your realtor. If necessary, the agent can recommend for the buyer to seek independent legal advice. As well, the buyers agent will complete all necessary paperwork when buying a home, aside from the contract.
5. Strong Negotiation
A buyer’s agent knows how to negotiate and understands the local market. They have many different approaches to negotiate the price downward, favourable terms, deposits and dates that best suite you and your current situations. It’s their job to make sure you get the very best price.
If you have any questions about purchasing a home or the benefits of hiring a buyer’s agent, contact Dave!