Health & Fitness
Thinking of buying a home? Work with an agent who's on your side!
What is a "buyer's agent" in real estate? A buyers agent is authorized to act in the best interests of a client and is obligated to place the client's interests before those of any other parties, including the agent's own interests. With increased education among both real estate professionals and consumers, buyer representation has grown to the extent that based on recent NAR research, nearly 60 percent of buyers work with a buyer's agent. The services provided by a buyer's representative include:
- Counseling: Assistance in acquiring and interpreting information about the property and its condition as well as advice about financing options.
- Negotiating: Development of a realistic offer and a negotiation strategy.
- Managing the transaction: Guidance through the process and paperwork to ensure an on-schedule closing.
The initial counseling session for an Acton area buyer is a focused conversation between the buyer and the Realtor. For both the buyer and the real estate professional, the counseling session is an opportunity to build rapport. For the Realtor, the aims are to:
- Learn the buyer's needs, wants, goals, and motivation
- Define the buyer's parameters, price range, and timeframe
- Help the buyer form realistic expectations
- Obtain a representation commitment from the buyer
- Plan a strategy for finding the right property
Find out what's happening in Actonwith free, real-time updates from Patch.
Agents May Avoid Some Buyers
Real estate professionals may avoid some buyers because they drain time and other resources. Agents may try to avoid buyers who:
Find out what's happening in Actonwith free, real-time updates from Patch.
- Have a lease that will not expire for another year, but want to go out on showings to get a "feel" for the future market
- Are unqualified or do not want to get pre-qualified or pre-approved until a property is found that meets specific needs
- Have persistently unrealistic expectations, are habitually late, miss appointments or are otherwise inconsiderate, hypercritical, overly demanding, or dishonest in their statements
- Create a conflict of interest or legal liability such as a buyer who wants to purchase a property the agent owns
- Have a family member who is a real estate agent and will not sign an exclusive agreement
- Want to work with several other agents
- Try to negotiate directly with the seller's agent
- Make demands that violate fair housing laws
- Ask for rebates or kickbacks or make other illegal suggestions
Buyers agents work hard to find the right property for their clients and facilitate the process. They should be knowlegable about the community, able to pass along references for mortgage agents, real estate attorneys, moving companies, and many other types of service providers that a potential home owner may need. Best of all, the seller's commission typically pays for the buyer agent, making it a win-win for the buyer!
Betsy Purcell, SRES, CBR, GPS betsypurcell@kw.com 978-758-7414 www.SearchingActonMAhomes.com
Serving both buyers and sellers since 2005 in Acton, Concord, Stow, Boxborough, Maynard and surrounding towns
- See more at: http://activerain.com/blogsview/4308489/why-should-i-work-with-a-buyers-agent-?share_opt=1#sthash.I8...