Tuesday Tips: Why a Buyer’s Agent is the Smart Choice

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Are you thinking about purchasing a home? Have you debated whether to try purchasing a house by yourself, use a buyers agent, or have you thought about just talking to the listing agent? Below are a couple key points to remember when you are deciding who you want to help you purchase your home.

Free of Charge: Not many buyers realize that the Sellers of a property pay the buyers agent’s commission. This means, you will not be paying your buyers agent, unless you have signed a contract with them that specifies a different way of compensation.

Negotiating: We are experts at negotiating. I think buyers forget that Realtors are negotiating on a daily basis if they are a full time agent. Full time agents, like the Sue Prins Group, have been taking classes, practicing, and refining how to negotiate with listing agents as well as sellers (when dealing with a for sale by owner). This is so we are ready for any type of negotiating needed because price is not always the most important component to a buyer offer.

Tricks up our sleeve: Currently, we are in a very strong sellers market. This has been difficult and frustrating to many buyers. It’s hard to win a bid on a home when there are multiple other offers on the house; in fact, we recently  won a bid on a home that had 38 other offers on it. In addition, the Sue Prins Team adjusts our strategy depending on the market. We have been perfecting the way we write offers in this sellers market.  It’s important for us to stay ahead of the game so we can represent our buyer in the best way possible.

Downfalls of using a Listing Agent: We often hear that buyers want to just deal with the listing agent of the property that they are interested in.  If a buyer uses the listing agent, the listing agent would become a dual agent. This means that the agent can’t put the buyer or seller at an advantage or disadvantage. So the agent cannot guide you appropriately as to what you should or shouldn’t do when writing an offer or dealing with inspection issues etc. Basically, this means that the agent will not be negotiating for YOU- they can only mediate the transaction itself.  The Sue Prins Group suggests that a first time buyer not enter into a dual agent situation. The first time buyer often needs more guidance and professional advice when purchasing a house.  Lets face it, even if you are not a first time buyer, you will have an advantage by having a Realtor who is looking out for your best interest throughout the entire transaction.

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