A major financial decision, buying a house is one that will be a big financial investment. A majority of buyers hire a broker or real estate agent to assist them in the complex home-search and purchase process. A real estate agent is an expert who will represent your best interests when buying a home.
According to a Zillow survey these were the most valuable activities that agents provided for buyers who hired them.
Organized and submitted all paperwork related to the purchase of their home (87% buyers who used an agent rated this service very or extremely valuable).
Taken buyers on private home tours (84% of respondents said it was very valuable).
Negotiations for contracts (84 percent of respondents said it was very valuable).
1. You can save money on your home purchase
Buyers rarely pay extra to have their agent represent them. Sellers typically pay real estate agents in San Antonio a gross commission. This is split between the listing agent, and the buyer’s agent. Buyer’s agents may pay their agents directly in certain cases if they sign an agency agreement. Be sure to discuss the terms of commission payments with your agent.
You can save money by using buyer’s agents. They can save you money by helping you avoid overpaying for a house.
Fair market value
Your agent will be able help you decide the right price to offer on a property. This should take into account the market conditions and the fair market value. They will conduct a comparative analysis (often abbreviated CMA) using comparable sales from nearby areas.
Agents can help adjust the price of your house to reflect any obvious defects.
Negotiate a price
Your agent is more knowledgeable about the market than you are, and can advise you when it’s reasonable for you to negotiate a better deal. Your agent should be able to understand the fluctuations in market conditions, as they change seasonally and month-to-month. You can negotiate even if you are buying in a sellers’ market. It all depends on the home, price, and seller. Talking to the agent listing your property can help you gain pricing insight. Your agent can, for example, ask the seller’s agent before you submit a proposal.
Keep your purchase on track
You need to be aware of many deadlines when buying a house. You can avoid costly mistakes by having your agent make sure that you are fulfilling your obligations.
2. Get quicker access to listings
You can search all public listings, agent-listed or for sale by owner (FSBO) on Zillow. However, agents have access to the entire market and are able to spot homes that are selling faster than you.
Networking with other agents
A listing may not be listed on the local MLS for a variety of reasons. The seller may still be completing renovations or waiting for the holidays to list their home. Your agent might have information about homes that are on the market before they appear on the MLS through their connections to other agents.
A vast knowledge base of the available information
Agents have a greater understanding of the inventory in your local area and can access MLS functionality that allows them to filter more than you will find on buyer-facing websites. Agents will have better chances of finding a specific property if you are looking for it.
Similar to the previous example, an agent who works with many buyers just like you, first-time buyers, will have a better understanding of active listings and be able to make suggestions based upon your list.
Capability to recognize red flags
Agents have seen so many houses and attended numerous inspections that they are familiar with the signs of costly issues such as leaking roofs or water damage. This knowledge will help you avoid buying a house that is more than you want and can also prevent you from having to pay inspection fees before you close.
3. Personalize your shopping support
The home buying process can be daunting, especially for first-time buyers. Even experienced buyers can find it difficult to keep track of all the details. Great buyer’s agents spend their time looking for homes that meet your criteria, negotiating and writing contracts, representing you, and overseeing the entire process. An experienced agent can make the process easier, especially when you have so much at stake.
Agents in real estate have certain duties to their clients. This means that they are legally and ethically bound to meet your needs.
We will work for your interests in the transaction
Providing disclosures
We offer guidance
Confidentiality of certain information
4. Get professional negotiating skills
The process of buying a house is both exciting and stressful. Without negotiating experience, passion can make it difficult to achieve what you want. Agents are able to present requests in a way that sellers are more likely to comply. They can also negotiate while maintaining good relationships with the seller and listing agent — which can be very useful in case of any issues later on in the deal.
5. Request assistance and paperwork
You can have multiple contingencies in a home purchase contract. They can go up to 10 pages long. Your agent can help you manage disclosures such as documentation on mold, radon, and average utility bills.
Agents have the ability to sign stacks of paperwork with ease thanks to a variety of tools. Digital signatures, email delivery systems, and mobile signing capabilities are all common tools used by agents. This means you don’t need to go to an office multiple times to sign documents over the 30-45 day escrow period. You may be able even to close your transaction without ever leaving your house thanks to this technology.
