Gulf Coast Real Estate News & Market Trends
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Real estate agents are more than property finders and researchers. A buyer's agent representing you would negotiate price and agreement terms on your behalf. He or she also oversees and orchestrates the details of your transaction that unless you have a complete understanding of your local real state laws and practices would not be anything to play around with considering the amount of money on the line and legal problems that could occur. Also, an agent that you have shared details with about what you can afford and what you are looking for and need and about the specific market, area and property you are looking to make an offer on, will always be the number one consultant that will best service you, not zillow, a real consultation service through personal interaction. Typically broker's fees are charged to the seller's side of the transaction and are usually "free" of charge to the buyer. It seems a buyer would do themselves a disservice by not taking advantage of professional services and knowledge. It would be like representing yourself in a trial and turning down professional legal advice and servic
Get your own representation, have them negotiate for you.
As a buyer's agent their main purpose is to look after the interest of the buyer. They have insider information about the current situation with the sale of the house which can be a benefit when you are putting in an offer, as to how much to offer, what sort of contingency to put in the offer and etc.
They can also advise you based on the professional experience what is a fair price of the house, what to look for when visiting an open house. They can help you filter out open houses based on your criteria so there is no need to go to every one of those open houses in the location you plan to buy.
They will also help you to point out what are the critical problems in the property inspection report. A seller agent wouldn't tell you that since their first priority is to look after the interest of their seller.
You don't need a buyer's agent to buy real estate. Nor do you need a lawyer in a court of law. But let me ask you this.
Why does a judge warn a defendant against self-representation? The defendant may not know the rules. He is emotionally tied to the outcome. That is why he needs a lawyer. It's the same principle in real estate.
The buyer's agent knows how to get the client the best deal possible. How? By doing it every day. That's his profession. The buyer's agent can expose the client to multiple properties and an exceptional amount of valid information. The agent has training and experience in negotiating not only the price but also the terms of the sales contract. The buyer's agent can recommend the best home inspector, best surveyor, best closing attorney and so forth.
Here is another factor that the so-called experts often miss – time. Many people do not have the time to take off from work to tend to the minute factors involved in a real estate transaction. Again that is the job of the buyer's agent.
Why risk making a mistake?
"Sellers' agents and dual agents do not and cannot by law give a buyer the same degree of loyalty as an agent who acts on behalf of a buyer. Sellers' agents owe their allegiance to the seller. Dual agency invites a conflict of interest. A buyer who relies on the seller's agent or on dual agency does not receive the same degree of legal protection as that afforded by an agent acting solely on behalf of the buyer".
July 31, 2017
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