Typically Buyers don’t pick buyer agents. The majority of the time the Buyer agent tries to “pick” a client and this happens either through an online inquiry, phone inquiry or open house. On a fair amount of occasions a Buyer will be referred to an agent and on the fewest cases a buyer goes actively looking for a buyer agent themselves. When you go looking for an agent you quickly realize that there are 100’s of agents and we all say the same things. This is why when you go looking a some of the most popular real estate agents in a particular market any background information on the agent is missing. This is an amusing fact in our real estate agent industry.
The value the buyer agent brings to a Buyer, generally speaking, is as follows:
- Buyer agents make it easy for Buyers to look at multiple homes and keep their identity private rather than having to contact multiple sellers or seller agents. This means the agent needs to be available even on short notice.
- The Buyer agent makes it easy to write an offer on a property. Generally a custom legally binding contract can be created within an hour of looking at a property, any day of the week.
- They give advice and have a fiduciary duty regarding contractual subjects and conditions on any one particular property. In this respect Buyer agents give Buyers assurance backed up with actual liability insurance usually up to $3 million dollars.
- The buyer agent can connect the Buyer with reputable sub contractors, mortgage specialists, and home inspectors to help ensure that the home buying process goes as smoothly as possible with little or no stress.
- They give advice about general market conditions as well as specific advice down to a single segment and single property, ideally speaking, helping the buyer ultimately find the right property for them so that the buyer can have the best chance of building wealth.
The first two points are probably the most important practical values a buyer agent can bring to the table and these two points also require the least amount of knowledge/experience. Just by doing these two points, a lot of Buyers appreciate the services of their agent. Just these two points can mean the difference between securing a great property or getting stuck with a not so great property or renting. These are the passive things an agent can help a Buyer with.
The last three points generally require more knowledge and experience to do well. The agent becomes more of an advisor than a passive observer. These points require more of an active approach where the agent tries to actively ask questions that can help them better understand the needs of a particular Buyer. Outside of being available, typically the biggest difference between one agent and another one has to do with these last three points.
Picking the right agent can save you a lot of time and be the difference between finding an excellent property you want to hold on to and build wealth or buying a property that could literally cost more money than it is worth and lead to financial trouble. The difference can be based on who you decided to use as your buyer agent.
Help with all things associated with this big change in your life is an email, txt, or call away when you are ready.
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