Here’s why you should hire a buyer’s agent to help.
Get the inside track.
Houses are selling quickly – by the time you see a house on a real estate website, it could have already had numerous showings and could possibly be under contract. A buyer’s agent can set you up to receive new listings that meet your criteria the minute they hit the market.
In addition, real estate offices with numerous agents will share information in-house about upcoming listings and buyers’ agents in those offices will often have an opportunity to show these homes to their buyers before they hit the market.
Multiple offer situations are starting to be the norm in the current market. Due to low inventory and high demand, most sellers are receiving multiple offers on their homes. A buyer’s agent will counsel you on market conditions, price ranges and negotiating strategies so you can make a favorable offer. As I tell all my clients – an offer is not just about price. There are lots of ways to craft a winning offer and price is just one aspect.
Reliable Market Data.
A buyer’s agent has access to recent sales information and can prepare a comparative market analysis on the property you’re interested in buying. This home evaluation will give you a guide to decide how much to offer.
Texas is a non-disclosure state in regards to home sales. Popular websites like Zillow and Trulia make educated guesses on home values based on public records – usually using tax appraisals. They do not have sales data. So relying on them to make a decision about how much to offer on a property could lead you to offer too much or too little.
Expert Advice at little or no cost to you.
A buyer’s representative can provide you the expertise you need throughout the entire transaction, greatly improving your buying experience and potential results. In most cases, the buyer’s representative’s commissions are paid for by the seller.
A buyer’s agent will make sure that you are truly ready and positioned to buy your next home. The agent will ensure you have met with a lender, you’ve determined your price range and you’re pre-qualified. This is essential and will keep you from being disappointed with the process of buying a home and will also reduce the risk of you losing money along the way.
There are some upfront expenses when buying a home and applying for a mortgage, such as credit reports, option period fees, home inspection costs, and appraisal fees. It would be disheartening to spend money on these items only to find out later in the process you are not able to secure financing. That scenario would be hard on the seller too. That is why good listing agents will always ask to see a pre-qualification letter from a potential buyer.