Since home prices are dropping and mortgage rates are low, it is a great time to buy your first home, but you do not have to go it alone! With short sales and foreclosures becoming more common, you want a savvy real estate agent who can help you navigate the waters. So, why should you use a real estate agent?
- IT COSTS YOU NOTHING! As a buyer, you are at a great advantage because you can have a professional real estate agent help you navigate the ins and outs of finding, buying, and closing on your new home and you pay them nothing! You heard right! You pay the agent nothing! The seller pays the agent a commission when the home closes and this commission is either paid to the listing agent if the buyer is not represented or split between the listing and buyer's agent. For example, if a seller is going to pay 6% commission, she will pay a total 6% commission and that number won't change with or without a buyer's agent. The split of the commission is all that changes. So if you do not have an agent representing you, then the full commission goes to the listing agent. Why would you not want someone working hard for you that you don't have to pay?
- An agent typically has a network of preferred vendors that will help your home buying transaction run smoothly. Agents can help you obtain financing by introducing you to a mortgage lender and keep the transaction running smoothly by constantly staying in contact with the lender to make sure you reach the closing table with no surprises. In addition to a mortgage lender, you will need the expertise of other certified professionals through the home buying process including attorneys, inspectors, insurance providers, and others. Agents will have a network of professionals for you to choose from that do quality work at a reasonable price.
- An agent has access to all properties available for sale with no lag times. When a buyer does a search online, there is typically a lag between when the home was entered into the multiple listing services and when it shows up online. A house could be under contract by the time you find it online. This could cost you a sale, especially if you are going after distressed sales that are in mint condition and highly sought after. A real estate agent has access to the listing information as soon as it is entered into the system and can be immediately emailed to the buyer.
- In addition, hiring a real estate agent reduces the amount of stress and frustration that buying a home can cause. Because of their expertise, they can help you during complicated transactions such as short sales or foreclosures by walking you through the steps and by telling you what to expect. They also will negotiate on your behalf and make sure that you get the best deal for the property by pulling comparable sales and advising you on your offer.
Want advice on how to pick a good agent? Contact me today to receive a list of qualities you want to look for in an agent.
For a list of distressed sales with pictures within your specific price range and area, call 1-800-951-5093 ID #1042 for a free recorded message or click on the link below to search for homes that meet your needs.