When Buying a Home, Get a Buyer's Agent on Your Side
A Home Buying Article Contributed by Robert Scalia
Why is This Such a Crucial Step When Buying a Home?
Any real estate agent can sell when you're looking to buy a home. That much we know. But a good buyer's agent can offer advice and tips on almost every aspect of your purchase - including the best ways to negotiate a fair price for you.
What are the Main Responsibilities of a Buyer's Agent When It Comes to You Buying a Home?
So you're interested in buying a home? For starters, an agent's job is to get the best possible price and terms for you, the buyer of the home. According to his responsibilities, these agents must disclose all material facts about any given property. If a home has a bad roof or plumbing problems, then you are entitled to know about it.
A Buyer's Agent should be willing to disclose when he believes a seller will be willing to accept a reduced price for the home. Perhaps there is an impending divorce or a foreclosure of sorts. In other words, you have a right to know.
The seller's agents, on the other hand, have different obligations altogether. Their main duty, of course, is to get the price and sales terms sought by the seller. And while he is required to disclose material facts., he cannot disclose any personal information concerning the seller without without his or her permission.
After hearing all this, you might get the feeling that you cannot afford to have one of these agents working for you.But in most case, it will be helpful to have one. Just remember: Never commit to a buyer's agent on the first day. They will want you to sign on right away. But what if the agent doesn't follow-through on his promises or the two of you simply don't get along?
Remember, like any personal relationship, you should always get to know your agent before you commit to having him or her help you when buying a home.
What if the agent can't seem to understand what you're looking for? You need a little time to get to know one another before you commit to an agency agreement.
What Can You Do to Ensure That Your Agent is Committed to Buying a Home for You?
There are a couple of things you can do that will help when buying a home . For starters, you can ask the agent to sign a buyer agency agreement that lasts for just a couple of days. Also, you want to make sure you always sign a non-exclusive agreement, which makes the agent your buyer representative without tying you down just to him or her.
Don't be afraid to ask your friends for recommendations. Picking someone with a proven track record can make things a whole lot easier. On the other hand, you don't want to be bombarding an agent with unnecessary questions. Engaging in a real conversation is far more effective when determining if your personalities match.
And remember, if you ever find an agent is exerting more pressure on you than you think you want to handle, just move on.
