Updated May 15th, 2019
Many buyers feel stressed about the complicated process of purchasing a home. Although a bit daunting, the process is easier with an agent. Buyer's agents can use their knowledge and experience to help buyers find, evaluate, and negotiate the purchase of a property.
What is a Buyer's Agent?
A buyer's agent is a real estate agent or broker who is trusted to represent the financial interests of the buyer in a real estate transaction. Buyers agents search, evaluate, negotiate the purchase of a property on behalf of a home buyer, guiding and assisting them through every step of the process. A buyer's agent has three primary responsibilities they perform for home buyers:
To help the buyer find the right property, the agent beings by uncovering the needs and wants of the buyer. This includes working at the price point they can afford. They sort through active listings, finding homes that meet the buyer's criteria. To help the buyer decide which house is right for them, the agent schedules appointments to visit the house. They discuss the various pros and cons of the property while in the space.
Once a buyer settles on a decision, the agent advises the buyer on a price and will write up and offer to present to the listing agent. If the seller rejects the offer, the buyer may decide to negotiate or try another property. The agent continues to be a valuable resource to the buyer, even after an offer has been accepted. The agent likely has a network of contractors, home inspectors, brokers, and movers who can help during the final phases of the sale.
Why Use a Buyer's Agent?
There are more than a dozen reasons why you should work with a buyer's agent. First of all, a buyer's agent helps take some of the stress out of buying. As a buyer, you don't have to spend hours driving through neighborhoods, searching every lawn for a “For Sale” sign. Your agent not only has access to the Multiple Listing Service database, but they are also part of a larger real estate network, giving them the scoop on what's for sale before the sign even goes up!
Your agent is legally and ethically responsible for representing your best interest at all times. This includes loyalty, disclosing known material facts, maintaining confidential information, and accounting for the money that is handled in the transaction. It's pretty nice to know someone has your back when you're out on the real estate battlefield.
What Does a Real Estate Agent Do For a Buyer?
A real estate agent is a real rock for many buyers. Most people just assume they perform primary listing searches and parade clients around to see houses, but their job is so much more. An agent becomes a buyer's advocate during the entire home buying process.
The agents take the time to get to know their buyer, uncovering their needs and wants, as well as motivating them when it comes time to make a decision. They provide guidance and follow up through the entire closing process, especially during the delicate and stressful moments, like submitting an offer or waiting to hear the results of the inspection. The buyer's agent is present all of the up to the closing and works to protect all of the buyer's rights. Most buyers feel lost without the stellar services provided by their agent.
Are There Alternatives To Using a Real Estate Agent?
With large, swift shifts in technology, the real estate industry works to reshape itself to keep up with the times. Some sellers take taking buying and selling into the own hands in attempts to dodge a commission fee, which explains the rising popularity of MLS-only listings and more and more for sale by owner properties cropping up. Discount and flat fee real estate agents are also now more popular than ever before.
Clever, a discount real estate service, even offers a commission rebate for just for using one of their top, local agent. Not only could you get money back, but you will be paired with someone who knows your area and market well, and will put your interests first.
There are endless alternatives to working with a buyer's agent. All of them come with pros and cons. Ultimately, however, it is up to the buyer to decide which approach they feel is most appropriate for their situation. It is recommended that you find a buyer's agent you really trust and work with them until from list until you close. Their expertise in the field will ensure your legal and financial safety. It will also provide you with the most outstanding housing options on the market.
Although daunting at first glance, working with a local, qualified buyer's agent makes the process stress-free and enjoyable.
Working with a buyer's agent is easy with Clever. Clever uses top local real estate agents to help you with your home search and save you money. Call us today at 1-833-2-CLEVER or fill out our online form to get started.