Why Use a Buyer Representative?
There are hundreds of good reasons to use a real estate professional to guide you through one of your most significant financial transactions but you should be aware that there are different types of professional representation. A real estate professional can represent your interests alone as a buyer representative who can negotiate on your behalf, assist you as a transaction facilitator while representing the seller, or a dual facilitator who provides limited assistance to both parties with permission of both.
Hiring a buyer representative has many important benefits. Here are some of them:
- Expert Market Knowledge: With their wealth of experience, buyer representatives can provide insights into local market trends, pricing, and neighborhood specifics, helping you make informed decisions.
- Access to Listings: Buyer representatives can broaden your search. As subscribers to the Multiple Listing Service, they have access to comprehensive and up-to-date property listings, including those not available to the public and options that you may not have known about or considered.
- Time Savings: Buyer representatives streamline your home search, saving you time by handling the legwork, coordinating showings, and using their market knowledge to give you the best chance of finding your new home.
- Objective Advice: It’s easy to get caught up in emotions when buying or selling a home. Buyer representatives offer objective advice and support, helping you to stay focused on your needs and budget.
- Contract Guidance: Buyer representatives can help you navigate and understand contracts and forms like purchase and sale agreements, clarifying common terms and contingencies, and highlighting risks and benefits.
- Professional Network: Buyer representatives connect you with trusted service providers like inspectors, contractors, and mortgage brokers.
- Negotiation Skills: With professional negotiation skills, buyer representatives can secure better deals, with favorable terms, and most important, an accepted offer.
- Deadline Management: Buyer representatives stay on top of deadlines to make sure your ability to have a successful closing is not compromised and no costly mistakes are made.
- Transaction Management: Buyer representatives manage the entire transaction process, from initial offer to closing, ensuring a smooth experience that helps to relieve your stress.
- Tax, Permitting and Zoning Verification: Buyer representatives check on tax issues such as municipal transfer taxes and homestead exemptions, proper permitting of renovations or additions, fire district requirements, restrictions on rentals or accessory dwelling units, and much more.
If you choose a buyer representative who is a REALTOR®, you will work with a licensed real estate professional who is also a member of the National Association of REALTORS® (NAR). Beyond the duties of a real estate agent, a REALTOR® pledges to uphold integrity, honesty, and client interests through a strict Code of Ethics and must complete ethics training every three years.
REALTORS® also have access to exclusive resources and education so they can offer clients an elevated level of service and commitment. Through its affiliated Institutes, Societies, and Councils, NAR offers a wide selection of real estate training options. It also serves as the country’s largest trade association advocating for homeowner and private property rights.