Did you know that you should always have a buyer’s agent representing you in a real estate transaction? You may wonder…why do I need a Real Estate Agent when I can find homes online?
Let’s dive into what a Real Estate agent does for a buyer and how they get paid. First thing to know – agents who work for the buyer of a home are called the buyer’s agent.
1. The buyer’s agent is a consultant.
The agent will go over the home buying process, expectations, market conditions, reconfirm your needs, wants, budget, location, and timeline so the agent can find you the right home. They are there to support you and have your best interests at heart. The agent will also provide you with their knowledge, expertise on neighborhoods, schools, lifestyle, transportation, and many more so you can make the best decision possible.
Sometimes when I work with my clients I will have couples who are completely opposite so it is my job to make sure we are able to find a home that suits both of their needs.
If you’re curious about what the whole process looks like from start to finish, check out my free Home Buying Flowchart.
Having a buyer’s agent to help you navigate through the home buying process does not cost you anything! The buyer’s agent is paid by the seller, the owner of the home.
2. Lender recommendations
The buyer’s agent will provide you lender recommendations. The agent will point you in the right direction on who would be the best fit based on your situation. This will save you time and headaches from trying to do everything yourself. For example, let’s say you are a first time home buyer and you are thinking about getting a FHA loan or need down payment assistance, not all lenders can provide this loan. What if you want to do 5% down, 20% down, you are self-employed or you need a VA loan. There are many different types of lenders and loans.
If you are wondering “where do I come up with the Down Payment” or “How much down do I really need,” click for my free Down Payment Guide.
3. Property information and disclosures
A buyer’s agent will provide you detailed information about the property you may not see on the surface. When you find a property you like and want to put in an offer, your buyer’s agent will go through the disclosures and reports provided by the seller and explain to you the condition of the home and if there is anything you should be aware of that could impact your decision on the property.
4. Purchase contract
The buyer’s agent will go over the purchase contract and guide you through the offer process and advise on contingencies. The buyer’s agent will negotiate on your behalf on any repairs or credits that make sense on the property based on the situation.
5. Market conditions and comparables
The buyer’s agent will go over the market conditions and comparables. Before making an offer on a property the buyer’s agent will run a comparative market analysis to understand what homes are selling for in the area and how much over or under they are selling for. The agent can also get insights on the interest level of the property you are interested in so you can understand the competition. This will help you determine the number you want to offer.
6. Vendor recommendations
The buyer’s agent will provide you with trusted experts. You will have access to their network. For example, if you bought a home and it needs some work, your agent will have a good contractor they can share with you. You may be thinking why does that matter when you can find trade people online? Well, there’s a big difference between tradespeople we personally worked with and have a great reputation as opposed to someone online that you’ve never worked with. Good people are hard to come by and you can’t really afford to go through many contractors because that will cost you thousands of dollars and time.
7. Help you achieve your real estate goals!
The buyer’s agent will help you get the home you want! You don’t have to settle; I will work tirelessly to find you exactly what you want.
8. You become a client for life.
With all my clients I see them as my friends and family. I always like to say the relationship doesn’t end when the transaction ends. I am not transaction-based. I am a relationship-based. It’s the beginning of a lasting relationship. You’ll find me checking in to see how you are doing and if you need any vendor recommendations or just want to catch up and hang out, I’m always available for that. I strive to educate my clients and enable them to make the best decisions with real estate that will allow them to own a home, build wealth, and grow happiness. I seek to inspire, motivate and create lasting change in everyone I encounter. Real Estate is the area of my expertise but it’s the people and relationships that matter the most to me.
Now you know what a buyer’s agent does!
Make sure you have one because there’s only so much a robot online can do for you. If you are thinking about buying a house now or in the near future in the San Jose, CA and the surrounding Bay Area Silicon Valley, please give me a call, send me a text or email me, and I’d love to show you what I can do for you. It does not cost you anything!
Here is my free Home Buyer Guide to help you get comfortable with starting the process.