Real Estate Buyers Agent
A real estate buyers agent is a professional who works in the buyer's interest. Most real estate buyers agents will require a buyer exclusive representation contract. Without one, of course, they could provide considerable work without any compensation if the buyer works with someone else to close their real estate deal. However, by working with a true real estate buyers agent, you have access to their expertise and help when it comes to all aspects of buying a house, especially when you are a first-time home buyer. Having the exclusive representation agreement allows the agent to dedicate themselves to your home search and finding the perfect property for you.
Find Homes for Sale
One of the many services that a real estate buyers agent can do is to help you find homes for sale in your price range and in the area of your preference. They can show you a selected list of homes, allowing you to narrow the choices down to the best ones. It's important to give your real estate buyers agent the full story and communicate exactly what you're looking for in terms of real estate and how much you're willing to pay. The best real estate agent will locate properties that are the ideal match for you.
Find Homes for Sale
Provide local insights of different areas
If you are moving to a new area, you most likely won’t know which areas have the amenities that you and your family require. Even if you are relocating close to your previous home, you will most likely not have as much knowledge as a real estate agent will about characteristics such as school system, shopping, recreational areas, or the overall direction the neighborhood is moving. It is an agent’s job to provide you with this information so that you can make an informed decision.
Gather extra info about house/area:
In addition to general info about a neighborhood, if you select the right buyer’s agent, they will be able to provide you with more in-depth information that may inform your decision. Things such as restrictive ordinances for the area, or upcoming government projects to improve roads, sewers, or water systems, could largely impact the value of that home. An agent would also have easier access to the by-laws of the homeowner’s association, or specific types of loans that may be applicable for some properties, such as fixer-uppers or down payment assistance. This is all quality information that you should ask agents to provide you with.
Distill info on websites
If you do use a lot of real estate websites, you will probably notice that while they do give you a lot of information about listings, some of the information may be difficult to understand, and you may have questions. For example, do you know what earnest money means? How about CMA? Short sale? Frequently, these apps employ real estate terminology that agents are very familiar with and would be able to explain to you quickly.
Comps and reasonably priced homes:
In addition to info that will help you make a decision on various homes, once you do have a home you want to make an offer on, an agent will be able to provide you with data on comparable homes in the area, and what they are listed for or have sold for. This is invaluable information as you begin the process of structuring an offer. Again, a good buyer’s agent in Chicagoland makes it their duty to know this info, have it on hand, and talk you through exactly what it means and how it will pertain to the offer you want to make.
Recommend Professionals and Professional Services
Real estate agents who represent the buyer can recommend other professionals as needed. For instance, a certain property may warrant an advanced type of inspection. The agent can recommend a foundation inspector if the potential buyer needs more information about this aspect of the property. A real estate buyers agent will have an expansive network of professionals to contact, all of whom are related to the real estate sector in some way.
Negotiate Real Estate Offers
Local real estate agents can do more than show properties. When working on a buyer's behalf, a buyer’s agent will negotiate your offer to obtain the best possible price and terms for you. Anytime a buyer wants to make an offer or counteroffer, there is legal paperwork to complete. Your agent can walk you through the process and submit all offers and negotiations on your behalf. Among the buyer's agent's many duties, negotiation assistance is high on the list.
Navigate Obstacles and Setbacks
Sometimes, alas, there are pitfall in the home-buying process. As the best real estate agent will tell you upfront, it's never a done deal until closing time. Obstacles and setbacks occur in many ways. Something may change the seller's mind. An inspection may turn up some shocking information that could affect the deal. Your real estate agent is there to find out all the relevant information and present you with it. They can advise you about the process—where to go or what to do after a problem arises. It's always helpful to have an exclusive buyer agent who is on your side and working on your behalf.
How to Find an Exclusive Buyer Agent
Now that you've learned about a buyer's agents duties, you may want to procure the services of one. Keep in mind, while a listing agent lists a home and may work on the seller's behalf, a buyer's agent is working with your best interests in mind. Your exclusive buyer's agent agreement gives you dedication and reliable expertise to help you throughout the home-buying process.