Buyer Specialist, Buying Agent, Buyer’s Agent… there are many terms that are used to describe the role of the real estate agent who assists buyers when they are purchasing a home. And while there are many names for that role, there are also just as many opinions about the necessity of using a buyer specialist to purchase a home. As a team of real estate agents, we may be biased, but we think it is important to use the experience and knowledge that a buyers specialist brings to the table. Here’s why.
Buying a home is more than just looking at homes and picking one, although that is a part of experience. The purchase of a home involves entering into a legally binding contract and involves purchasing a product that may have either increasing or diminishing returns. Information about the buyer is shared to numerous parties and discretion is hugely important. Hiring a buyer agent is the same as hiring a lawyer to represent you. You want someone who is knowledgeable and who has your interest as top priority.
One of the biggest misconceptions about buyer agents is that the buyer pays the commission. In fact, in almost all transactions, the seller pays the commission of both the listing and selling agents. This means that as a buyer, it is free for you to hire an agent to work on your behalf. And just like in court, you would not want the opposing side’s lawyer to represent you, you don’t want to share an agent with the listing agent. After all, that leaves it a little murky whose best interest they are looking after. As a buyer, you want an agent who is looking out for number 1…you!
Negotiation is a tricky business sometimes in real estate. As a buyer you don’t want to overpay for a home, but you also don’t want to ruin the opportunity to negotiate by coming in with an offer that is too low. A buyer specialist not only knows the market, but knows what home are selling for in the area. Allowing you to make a competent offer and look like the pro you are (or at least like the pro you hired) gives you the upper hand in a negotiation.
Legal contracts are sometimes a pain to understand and navigate. Even the smartest cookie among us can go a little cross eyed making sure all the t’s are crossed and the i’s dotted. An experienced buyer specialist will not only make sure that your contract is correct,but that you get all the pertinent information, such as disclosure, flood plain information, etc. Buying a home is not only about making and getting an accepted offer. The contract dates (often termed due diligence period) gives the buyer ample time to inspect and request repairs if needed, as well as get out of purchasing a lemon. While a buyer could possibly keep up with all of this on their own, a buyer specialist will handle it all for you. Tracking down documents, getting repairs agreed to, referring reputable inspectors and lenders, and making sure the title is free and clear are all part of what a buyer specialist does.
Life is all about relationships. We are fortunate to live in a time when you can “google” someone before you meet them, whether for a date or for a doctor visit. Taking the time to interview your buyer specialist is important. After all, this is the person who will not only help you buy your home, but most likely will be the person who helps you sell it in 7-10 years.
As a real estate team, we have one goal in mind, customer service. Our goal is that every person on our team is ready to give 100% to each client. This begins at the top with our lead agents all the way down to our newest hire. If you are looking for a dedicated buyer specialist, contact our team today. We have three dedicated buyer specialists, Carmen Patty, Alexis Scott and Joanie Sompayrac, ready to assist you from the initial search all the way to the closing table.