Why you need representation when buying a home !
There are two million licensed real estate agents in the United States. About half or one million are Realtors®. These Realtors® are held to a higher standard than a licensed agent with no affiliation. They are bound by a code of ethics that they must adhere to.
It is reported that only half of the active Realtors sold a home in the past year. If you are looking for buyer representation in this market you do not need a part time agent. The process is just too complicated for the inexperienced agent to help you, when problems come along, and they do come along.
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Experienced agents will have a network of vendors who have proven themselves over time. This will help you find the best inspectors, attorneys and the best mortgage people to handle the transaction. This network alone could save you money.
Knowledge of technology by your agent is paramount. The ability to simplify online home searches that will make you aware of new listings as soon as they hit the market will save you hours. In this market a good home priced right will sell quickly, so you must be ready to be first. An experienced agent will know how to compete when there are multiple offers.As I reported just last week, a home in Metro Atlanta that is in top condition and priced at the market or below the market will sell in a median time of 25 days (half quicker and half a little longer). A well priced home may have two or three offers on it in the first week.
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Experienced agents will be able to study the activity in the community and help you structure an offer that makes you look good to the seller without over-paying for a home. Sometimes your agent may suggest you pay list price or close to it. This is not because they want you to pay a higher price. It is because they have studied the market and know that a home may be priced at or below market.
Your agent looks for housing trends which help you to buy the very best home for the future appreciation as well as being the best place for your family. A buyer’s agent can find out about any home you are interested in and can show you any home listed in the MLS or not. They can help you buy bank owned, foreclosure, short sale, listed, unlisted and For Sale by Owner homes.
A buyer’s agent will reduce your work load, help you structure a good offer and save you time and money.
For more information about buying a home go to Realtor.org where you will find a weatlh of information.
Feel free to email me with questions about buyer's agency. Hiring a buyer's agent will not under normal circumstances cost you a penny. It could save you thousands. Nancy@Minor.net