Buyers Should Definitely Use a Buyer's Agent!
If you are thinking of buying a home, you may wonder about buyer’s agents and whether you should work with one or not. Buyers should definitely have their own representation – and not rely on the listing agent (who represents the seller’s best interests). You wouldn’t hire your spouse’s attorney to represent you in your divorce. The same goes for real estate. Why use the seller’s agent to negotiate your best interest? There is an inherent conflict of interest in this. The home buying process is stressful enough without worrying about who you can and cannot trust. Your buyer’s agent is your trusted advocate.
Here are a few of the many things that your buyer’s agent will do for you in helping you find and purchase a home:
1) Going over with you the active, under contract, and sold properties that meet criteria to help you get a good understanding of the market where you are looking.
2) Map out the best/most efficient route to viewing the houses for sale that best meet your criteria and setting up the appointments to see those houses.
3) Go over the home buying process with you and make sure that you understand the steps and have good, reliable information to help you make informed decision throughout the process.
4) Talk you out of buying homes you like but that are likely to be difficult resales. Your buyer’s agent has been through hundreds if not thousands of houses with hundreds of buyers, so he/she will know more about this than you do.
5) Help walk you through the offer forms. It is important to understand the specifics of your offer. Your buyer’s agent will help you here.
6) Help you to analyze the price and value of the house you want to make an offer on and help with developing a negotiating strategy to help your offer be in a competitive position with terms beneficial to you.
7) Recommend inspector and types of inspections and tests that you should have done.
8) Assist in interpreting inspection results and negotiating inspection issues, possibly even making the decision as to whether this house is worth moving forward on and compiling a list of items that you request the seller to repair/correct prior to close of escrow.
9) Assist in reading documents like HOA finances and title report, and make sure you get all the right documents.
10) Ensure that the seller provides the required and necessary disclosures and push for additional information and documents called for.
11) Assist in coordinating communications between the escrow company, the lender and title company as well as the seller and buyer so that everything is done properly and in a timely fashion to help ensure a smooth and on-time closing.
12) Help you through the closing process and closing documents.
The key is that buyer agents work to negotiate the best terms and price for the buyer. Remember, the buyer’s agent’s services are free to the buyer. The seller pays their commission. Why would you not have your own buyer’s agent representing your best interests and helping you through the many steps of buying a home? The real estate agents at Pedersen Real Estate work with buyers in Riverside, Corona, and throughout the Inland Empire. Helping you buy your dream home is what we are all about.
Vicki Pedersen, Pedersen Real Estate, is an Accredited Buyers Agent. Call or text me at 951-840-5212. We're here to protect and serve our buyers.