Let me first say we have not been under a rock for the past couple of years. Our real estate landscape is changing and we are not looking back. Buyers are more informed, savvier and aware of how they are spending their real estate dollars. Online home buying portals, for sale by owners and new home builders are all trying to find ways to profit on one of your families biggest investments. It is important to understand you can have all the financial guidance and proper buyer representation all for FREE.
So if you are a renter dreaming of your first home, homeowner looking for new home or maybe a life change is causing you to think a new home is something you can't wait any longer for, this article is for you.
Moments where buyers have made mistakes
Potential Buyer - Do-It-Yourselfer
After weeks of searching Zillow, buyer 1 finds a list of homes that match their criteria online. They do all their research and try to understand what is happening in different neighborhoods and narrow down their list of favorite homes. After hours of online searches they try to contact either the listing agents or homeowners about viewing the properties only to find most are under contract, have the wrong square footage, or inaccurate room count. But persistence pays off. They finally decide on a home they like and discuss the terms with the listing agent. They tell them when they want to move and how much they think the house is worth. The listing agent won't tell the Seller buyer 1's motivations and how much they'd be willing to pay for the house, right? WRONG.
We realize there has been an explosion of online sites to assist homebuyers in finding properties. Honestly we have checked them out and their user experience is fantastic and loaded with data. But data inaccuracies and missing listings make our clients confused and uninformed on what is really happening. And in the end you are left with inaccurate price guidance, negotiations, handling volumes of paperwork and hundreds of real world experience.
Potential Buyer - New Construction
Buyer 2 is expecting their first child and their spouse is ready to make the move to the new larger house in one of our Charlotte suburbs. Together they drive out on a beautiful spring day and view a new construction neighborhood model home. After seeing the big backyard, new granite countertops and builder incentives the model representative can tell the couple is ready to sign a contract. Should they sign up without consulting a realtor?
Did you know: The model reprehensive is really a licensed agent that is working at the best interest of the builder. Although the builder will do their best to make it seem like you don't need someone representing you and it will save you money, the commission saved will go back into their pocket and not yours. A real estate agent will keep a detailed account of the builder's actions and make sure that you are getting the most home for the money. The best part is that there is no additional cost to you.
Potential buyer – Open House
Buyer 3 walks into an open house and falls in love. They talk to the agent about their needs, wants and budget. After mentioning they are in the middle of a divorce and need a place to live ASAP. He suggests you draw up an offer right away. The agent represents your interests because he knows so much about you, right? WRONG.
Did you know: In North Carolina, all Realtors work in the best interest of the Seller – it's the law. The Listing Agent (the agent who represents the Seller) has a primary duty to the Seller. The other Agent who finds the Buyer is working for the Seller too – unless the buyer has signed a Buyer's Representation Agreement with the Agent which in effect makes him a Buyer Agent. A Buyer Agents' duties are to you, the Buyer.
10 reasons to work with a Realtor
- Education & Experience
- Your Advocate - Buffer To Sellers and Agents
- Neighborhood Knowledge
- Price Guidance
- Understanding Market Conditions
- Negotiation Skills & Confidentiality
- Finds the Best Financing and Contractor Options
- Handling Volumes of Paperwork
- Answer Questions After Closing
- FREE
Your market expert and negotiator is FREE! The seller pays the listing agent. The list agent agrees to share a portion of their commission with the buyer's agents. So you can have somebody work exclusively in your interests and get paid by someone else!
The REALTOR® is the only constant in the real estate transaction. Can you afford not to have that experience on your side?
Contact us to help you save time and money.
Read the "Working with Real Estate Agents Brochure" for further explanation of agency and how it could affect you in a real estate transaction.
