You may be wondering why you would want to contact an agent if you are looking to buy a home. While it is true that Realtor.com and many other sites allow you to see the homes that are for sale, there is much information that you as a consumer do NOT have access to. An example would be how long it has been on the market, or whether there are any homes that have sold recently in the area.
A buyer's agent is not just a door opener to prospective buyers. A buyer's agent protects you by advising you of all of the inspections, contingencies, terms and price that you should negotiate. If you just call the listing agent to see a home, you are not solely represented. The listing agent is representing the seller and in order to represent you, you and the seller must agree to sign an agreement explaining dual agency. Dual agency is when the listing agent meets with a buyer that is interested in the home that they have listed. This is legal and done all over the country, with full disclosure of what it means to both sides of the transaction. One person cannot effectively mitigate loss on the seller's side and give full negotiating skills to you as the buyer in these cases. In fact, the listing agent can only disclose what the seller allows in writing so they cannot advise YOU as the buyer on how to negotiate the contract.
I personally am not interested in representing both sides of a transaction. Even if things go smoothly, one side or the other feels like their interests were not represented. Whether the seller thinks that they could have gotten the buyer to pay more or the buyer feels like they could have gotten the home for less, there can be bitter feelings in the end.
It is in your best interests as a buyer to have your own agent to represent you. The seller is paying for you to be represented, you do not pay for that service. The value of having someone that can negotiate the right terms and price for you is priceless. The buyer's agent will write a contract and make suggestions for the timeframes for every step of your contract from escrow to closing. The agent will also provide you with the sold comparables for the property to assist you in getting the best price possible in the current market.
The buyer's agent with work with your lender, your home inspector, your closing company, etc. to assist with the entire process. The buyer's agent will give you a checklist of the items that you need to complete prior to closing. This kind of guidance will prove to be invaluable to you. You will stay on track and there will be no surprises the week before the closing.
So, the next time that you think that you don't need a buyer's agent, think again. I don't think that you can afford to not have one! Call me for your free buyer consultation to see if you are ready to buy your first home or if the market is ready to sell yours at a great price! Interest rates are still low and there are some great values out there in every price range.
Keep smiling,
Karen