Using a Buyer’s Agent to purchase a home makes the otherwise stressful situation much less complicated. Buyer's agents are similar to real estate agents, except that they work for a brokerage that represents the buyer in the real estate transaction. Their entire focus is on helping people find the right home, in the right neighborhood, and for the right price - often at no extra cost to the buyer.
Buyer's agents provide experience and guidance from the start:
Home buyers looking for Real Estate in Durango Colorado can begin working with the agent early in the process. A buyer's agent will help the buyer determine the amount of home they can afford, and help them get pre-qualified. This pre-qualification puts the buyer in a much better position at the negotiating table when a suitable home is found.
Buyer's agents ensure that buyers are looking at the right homes:
Seller agents may feel pressured to sell certain properties, and might prioritize those homes over properties that are more suitable for the buyer. The buyer agent's brokerage, however, does't list homes, so conflict of interest is avoided. This agent will determine the needs and wants of the home buyer and locate properties that fit those specifications.
Buyer's agents help make informed decisions:
The buyer's agent will take the time to research properties, identifying any problems with the home and looking at historic sales data for similar properties. This information is invaluable in helping the buyer make an informed decision before an offer is made and the buyer is locked into the purchase.
Buyer's agents negotiate in the buyer's favor:
Once a suitable home has been found the agent will assist the buyer in preparing and presenting an offer. Seller agents are contractually obligated to make the sale happen in the seller's favor, as close to asking price as possible. Buyer's agents work solely in the buyer's interest. All buyer information is kept confidential, protecting the buyer's ability to negotiate. They also offer expertise and experience to assist with bidding strategies so that the buyer can get the best possible deal on the home, and will negotiate on the buyer's behalf.
Buyer's agents advise the buyers during the purchase process:
Finally, the buyer agent's experience helps to protect the buyer by identifying red flags in the purchase agreement. The agent may also provide a list of qualified vendors that offer services such as inspections and certifications. The buyer's agent also helps the buyer navigate the maze of people involved in the closing process. It's vitally important to be sure that all necessary documents are prepared, signed, and promptly sent to the right people so that closing isn't delayed.
All of these benefits at no cost:
Buying agents tend to split the transaction fee with the selling agent, which provides a service that has no extra cost to the buyer. For example, a 6% commission from the seller’s agent will get split into 3% each. This commission is paid by the listing brokerage to the buyer's broker, who then pays the buyer's agent.
Using a buyer's agent will not only make the home buying process less stressful, it also helps the buyer protect themselves and ensure that they get the home they really want. At no cost to the buyer, it's a service that everyone can afford.