I've gotten a lot of questions lately about why a buyer agent might be necessary when purchasing a home. While there are many reasons that having a buyer agent can be very beneficial to you, I've picked out my three favorites, enjoy!
1. Buyer Agents are FREE, FREE, FREE
Yep, that's right, buyer agents cost you nothing. They can drive you around for months, prepare countless market reports, put in offers, and facilitate each and every transaction, and you still don't pay them a dime! Typically, when purchasing a home, the real estate commissions are paid by the seller. In Northern Colorado, its very common for the seller to pay 3% to the listing agent and 3% to the buyers agent. So, because your buyer's agent is willing to do so much for free, I suggest you take advantage of the opportunity and get as much as you can out of your Realtor.
2. Access to Every Home on The Market
Contrary to popular belief, buyers agents not only have access to every home that they are listing, they also have physical access to every home on the market! Any home you want to see can be show by your very own buyer's agent. Without an agent, access to homes can be limited, as homeowners can be wary about letting random unsupervised folks into their house for an extended period of time. It's a toss up whether or not you'll be able to see every home you want to see, unless you're lucky enough to find an open house or model home. Also, their access online is further reaching than the average person. Having access to the MLS system provides the agent with access to more properties and more information.
3. A Buyer Agent Will Negotiate for You
Buyer's agents are trained in negotiation and have a grasp on the ever changing real estate markets. They are experts in valuations and can let you know if a property is overpriced, saving you money. Also, a buyer agent will be equipped with the tools and experience necessary in negotiating tough deals; its what we do every day. Want the seller to pay some of your closing costs? Want that washer and dryer to stay when you buy? Hate the price but love the house? A Realtor has a feel for what can get done and what can't, and they're always willing to listen to you and negotiate with the seller as long as it takes.
So, if you haven't considered using a buyer's agent, your next purchase might be the time to start. Beyond the three points mentioned above, think about all the time and energy you can save by utilizing a buyer's agent. Searching out new homes, calling for showings, filling out contracts, and dealing with the transaction can be a major headache when all you want to do is get into a new home. My advice: Get a buyer's agent, it'll be worth every penny you don't have to spend.