Everyone knows that purchasing a home or investment property can be one of the biggest financial investments that you will make. Before you start looking it’s really important to choose a real estate professional to work for you as your buyers agent. Over the years I have heard so many horror stories from buyers who either didn’t have an agent assisting them or just chose the wrong agent. Here are the top 5 reasons why you need a buyers agent:
- Top of the list. A buyers agent knows the local market. They can provide important information about local properties and help you determine market value. The real estate market is constantly changing and you need someone who is a hands-on professional who tours the local properties on a daily basis and knows how to determine value…not just provide you with the Zillow Estimate. This is especially important in markets like ours here in Fort Lauderdale where we have so much diverse inventory. Local knowledge is key!
- A good buyers agent can help you search for your home or investment property more efficiently. Listening to your specific wants and needs they can help you to narrow down your home search to only the homes that you should be looking at. A good buyers agent will also be able to coordinate showings on those properties so that you can make the most of your time. Trying to schedule showings on multiple properties on your own without a buyers agent is almost impossible. An experienced buyers agent will be great at time management and will contact multiple agents easily to coordinate showings and provide access based on your time schedule.
- Experienced buyers agents have built trusted relationships with local lenders and closing agents within their communities. Your agent can help you get pre-approved so that the lender can help you to determine the price range that you qualify for. This will also ensure that you know what your down payment and closing costs will be and how much your monthly payment will be so that you will be confident that you can afford the homes that you are viewing. Nothing is worse that falling in love with a home only to find out that you don’t qualify for that purchase. It is especially important in South Florida that you work with a local mortgage banker, and it is particularly important if you are buying a condo. Also, your agent’s relationships with closing companies is an important benefit to you as a buyer. In addition to managing the actual real estate closing and providing title insurance, closing companies also do lien and title searches to ensure that you receive clear title at closing.
- Your buyers agent will also be able to help you determine what your initial offer should be and what items may be negotiated in the process. Experienced buyers agents have made hundreds of offers and are skilled negotiators. Purchasing a home, especially for your personal residence, can be an emotional experience. Having an agent as your point of contact in the negotiations is a huge benefit to you. Though you have the final say, your buyers agent can help keep cool heads and will keep emotions out of the negotiations.
- Best reason of all to have a buyers agent. Buyers agent services are FREE! There is no charge to you to have a buyers agent assisting you with your purchase when the homes that you are viewing are for sale by other agents. No, buyers agents do not work for free. The sellers pay for the commissions at closing and this is all negotiated before the property hits the market.
Bottom line. Find an experienced buyers agent that you have a good rapport with to assist you with your home search from beginning to end. They can help you simplify the experience and find you a home that you love. If you are shopping in the Fort Lauderdale area, we’d be happy to assist.
Happy House Hunting!
