Buying a home is the biggest investment consumers will probably make. It is something that cannot be taken lightly, which is why it is important for consumers to have enough knowledge and get assistance from professionals. Every consumer, especially first time homebuyers, wants to have a smooth and worry-free home buying or selling transaction. The Buyer Agent Search Network, a Colorado-based free consultation service posted several informational videos that will help first-time homebuyers know the vital information about home buying process such as real estate home buyers checklist, how do buyer agent gets paid, avoiding real estate pitfalls, etc.
Consumers may access the videos at https://www.youtube.com/channel/UCjbX1mE37g9WneSOEJe4Dbg
Since most of us have access to the internet, buyers, especially first time homebuyers, have tendencies to start searching for properties online. And that’s where buyers commit this common mistake: seeing properties with the listing agents. On the websites that show houses for sale, open houses, model homes or even on yard signs, listing agents would often ask consumers to contact them. Once the consumers see the property with the selling agent, it will be almost impossible for them to get a representative for that property. It will put consumers in a situation where it will be difficult to get out. They have been claimed already even before they realize it. Contacting the listing agent isn’t recommended for the buyers because their job is to get the highest price and best terms for the seller. Buyers can safeguard themselves by proactively choosing a buyer agent even before getting approved for financing.
The Buyer Agent’s Responsibilities that First time Homebuyers Should Know:
In general, the buyer agent is responsible in protecting the buyer’s interests from house hunting to closing. The list of the duties of a buyer agent is usually included in the buyer’s agent agreement along with how the agent will be paid. The responsibilities include, but not limited to:
- Help consumers find a perfect home. – A buyer agent spends several hours asking questions about what the buyer wants and didn’t want in a home, and other things to consider. This is an important factor for the first time homebuyers to look for.
- Search out properties in the market – After getting the consumers’ wants and needs, they will find properties that fit the buyers’ criteria.
- Evaluate loan package – The buyer agent evaluates the consumers’ loan package, so he can find a perfect home and loan that fit the consumer’s price range.
- Develop preliminary evaluation of property and explain comparative property values in the area – It is important for the buyer’s agent to perform an evaluation of the property, so he can explain the potential benefits or problems with the property.
- Properly advise on price and other negotiating options – The negotiating skills of the buyer agent is needed so the buyer can get the best terms and price of the home.
- Prepare purchase offer – The buyer agent is responsible for preparing and presenting the purchase offer to the selling agent.
- Arrange warranties, inspections, and certifications – The buyer agent can also find and arrange an appointment with home inspectors to inspect the property.
- Attend closing to assist consumers – The paperwork during closing can be a lot of work and must follow many state and federal regulations. The buyer agent handles this for the buyers, too.
Benefits of Hiring Buyer Agents
- Evaluation of consumer’s specific needs and wants are and locating the properties that fit those specifications.
- Assistance in determining what consumers can afford through pre-qualification and show properties in that price range.
- Completion of the leg work which can involve an extensive amount of research on each property chosen and identification of the issues to help consumers make an informed decision before they make an offer.
- Negotiation and presentation of the offer to the seller on behalf of the buyer.
- Access to financing information, list of high-quality vendors (i.e. movers, attorneys, inspectors, plumbers, etc.) and other invaluable information
- Full representation for the consumers and first time homebuyer.
Finding Top Buyer Agents
Tips on finding a good agent:
- Realize that finding an agent is the most important step of all.
- Shop with the agent first.
- Prepare a list of questions to interview potential agents.
- Find an agent that is a member of professional associations.
- Ask for references and contact them.
It is also important to find a buyers agent that knows the area very well, is highly-experienced, is honest, and is prompt in getting in touch with the consumer.
The BuyerAgentSearch Network can simplify and save consumers and first time homebuyer’s time in finding top agents by providing recommendations based on personalized consultations at no cost. They also make sure the consumers will determine the best agent for them by providing a set of good interview questions to interview the agents. Most of their agents been rated and reviewed for over 20 years. For a free, no obligation list of highly-qualified and highly-rated agents anywhere in the United States, Costa Rica and Canada, go to this page in the BuyerAgentSearch site.