Working With Seller’s And Buyer’s Agents
As a home buyer, your real estate agent is considered the buyer’s agent. While some people will forego hiring an agent at first when looking for a home in order to save money on commission costs, they will usually end up hiring an agent to:
- Handle negotiations with sellers
- Do paperwork, and
- Survey neighborhoods
It is in your best interest to hire an agent in order to make buying a home a much easier, and faster process.
Negotiations With Sellers
Most people who sell their homes are also working with an agent. This agent is known as a seller’s agent. If you choose not to hire an agent, you will be dealing with a seller’s agent who is looking out for the home owner’s interests, and not yours.
Sometimes, though, the seller’s agent and the buyer’s agent can be the same agent. This means that your agent is looking after the interests of everyone involved. This is a rare occurrence, and it is best to hire a real estate agent that can negotiate with other agents in order to get you the best deal on a home.
Negotiating with agents can take a week or more depending on how high you are willing to go and how low the owners are willing to go. This can become a complicated game once you introduce home inspectors. After an initial home inspection, if you feel there are repairs that should be made prior to the sale of the home, or if you want a price reduction because of the repairs you will have to make, you will have to negotiate with the owners to settle on a fair price. Without an agent, you will have to do all of this work yourself.
When buying a home, there is a lot of paperwork that must be completed before the closing. This paperwork can include:
- Home inspection reports
- Home appraisal reports, and
- Fixture lists (Items that come with the home and items you would like removed)
Filing the paperwork is not difficult, but it can take some time. Working with an agent will save you time and money when creating and sending out various paperwork.
Another advantage to hiring an agent is that you will not have to do as much legwork in the beginning. You may have a few neighborhoods in mind, but you will be able to leave it to your agent to find homes for sale and setting up appointments to see them.
This is another time saver especially if you have to work during the week. Taking time from your busy day to call other agents and homeowners to set up appointments will distract you from your other daily duties.