House-Hunting Should I Hire My Own Agent?
Buying a house is one of the most significant investments you will make during your lifetime. Whether house shopping or preparing for your mortgage, a buyer’s agent will ensure you get the best deal possible and that your interests are protected throughout the process. There are a plethora of reasons that house-hunters should utilize a buyer’s agent to guard their investment. Read ahead to learn of 9 reasons you may want to seek a buyer’s agent to assist you in the purchase process.
Unless you are purchasing a home listed for sale by the owner (FSBO), a buyer’s agent won’t cost you anything because they are paid by the home seller once the home has sold. In addition to that fact, your agent’s job is to protect your interests and save you time and money in the process. Their wealth of knowledge and resources cannot be understated when you are making a long-term investment for your family.
Professional Experience in the Field
Finding the perfect home and making this purchase can be very time-consuming and stressful. An agent has tools and technology the average person doesn’t have access to that streamlines the process and saves you hours viewing properties that aren’t right for your family. A buyer’s agent who has your needs and preferences in mind will save you time while also screening out homes with common issues you may miss, such as leaky roofs, potential mould, or cracked foundations.
Buyer’s Agents Know the Area
Real estate in every town is different. An agent who is aware of the intricacies of the market can ensure you are making sound decisions in your purchase. They will know the specific locations and types of neighbourhoods you should be searching in, and those you should stay away from. Their understanding of the pricing will ensure that you aren’t offering too much, especially in a seller’s market or when housing is scarce.
One of the most important and time-consuming tasks for house-hunters is coordinating house showings. Your buying agent will be responsible for this task, which includes making all the calls, determining the most efficient route and mapping it out, and getting all the information together to present to you for each viewing. Don’t overlook how demanding this job is! Your buying agent will be skilled in completing this task, so you don’t have to do anything except show up!
Writing Contracts and Offers
Even if this isn’t your first home purchase, it’s doubtful that you have enough understanding to comprehend real estate contract jargon. Your agent will know how to write a contract that not only covers you as the purchaser but also presents you in a positive way to the sellers, which is important in this market. They will help you navigate your responsibilities and due dates and have an eye open for any aspects of the contract that might not serve you well.
They Represent YOU
Purchasing a house is a negotiation. The seller provides a list price and gives you the home information, but every buyer is welcome to make an offer that is different from the listing. This includes several components of the contract such as the dates, down payment, inclusions, and exclusions, and most importantly price. Your buying agent will negotiate on your behalf to ensure that you get the best deal as well as the best price on your purchase.
They Understand Financing
Your agent will have experience with evaluating and securing a mortgage for your new home. Their understanding of the different mortgage options and connections to brokers can help smooth the process and help it go more easily for you. Your agent can introduce you to a local mortgage broker who will understand the process and any local regulations or rules that may apply to your purchase.
They know People
A great buyer’s agent will have connections to local professionals that will ensure a safe and speedy purchase. These professionals include home inspectors, lawyers, mortgage brokers, and other professionals who may be needed such as engineers, contractors, or moving companies. These professionals will have your best interests in mind as the purchaser and protect your investment.
They Take the Stress Away from You
House hunting in the current market is stressful enough especially without having someone who knows the industry’s inner workings to make the process easier for you. Reach out to us today to find out how we can get you started and make this process enjoyable and beneficial for you, you’ll be glad you did!