We Don't Need a Real Estate Buyers Agent... right?
Since the advent of the internet and mobile devices, the power to search for properties has been transferred from the realtor's hands to the potential home buyer. With unprecedented information accessible to anyone who wants to look for a home online, we begin to question if there is still a need to work with a real estate buyer’s agent.
But can we actually cancel out the buyer’s agent in the home-buying process? This article enumerates the numerous functions of a buyer’s agent and the reasons why working with one is still the smart approach to home buying.
- Most online sources provide outdated or incomplete information about homes for sale. Prospective home buyers may be able to look for a home online, but there is no guarantee that the property they will find online is accurately described or still available for purchase.
- A buyer’s agent represents the buyers in the process, gives advice to the buyers, and negotiates the terms of the purchase in favor of the buyers.
- A buyer’s agent studies the needs and wants of the buyer and provides support- from finding the right home, to filling out the necessary paperwork.
- It’s also their job to explain the current real estate market conditions to help buyers make wise home buying decisions.
- They provide insight into genuinely active listings, conduct research, and make suggestions after cross-referencing buyer’s needs.
- They help buyers narrow down their search until they have found a home worthy of commitment.
- Agents guide buyers through the entire negotiation process, most especially in preparing all forms for making offers and/or counteroffers.
- They assist with scheduling home inspections.
- They give advice on how to handle needed repairs.
- And, agents follow through until the final step (closing) to make sure that the buyer’s interests are protected.
Buyer’s agents may no longer be the key to property searches, but that is not their only function. Buyer’s agents are experts in understanding your wants and needs, finding properties that wouldn’t turn out to be a waste of time, and assisting you with the legal procedure of acquiring your largest investment. Sorry Google; it may take decades before you can actually take over the other integral tasks of a real estate buyer’s agent.
Source: The Zillow article “What Does a Real Estate Buyer’s Agent Do,” by Monte Mohr can be accessed from the Forbes.com website here.