Recently there have been a lot of headlines about who should pay the buyer's agent as part of the real estate transaction. Should a buyer's agent be paid by the seller, factoring it into the listing and sales price, or should a buyer pay their own agent, factoring it into the offer.
While the courts wrestle with a "six of one versus half dozen of another" dilemma, the vital role that the buyer's agent plays in a real estate transaction has been overlooked.
Buying a house can be one of the most difficult, complicated, and financially significant purchases that many people will ever make. Not only is it most people's largest single purchase, but the legal ins and outs of real estate transactions can be confusing for someone who doesn't work directly in the field. Add in the emotional aspect, and the fact that no two pieces of real estate are identical, and you start to understand why the process is so difficult.
This is why 86% of home buyers used a real estate agent in their home purchase according to the National Association of Realtors Profile of Home Buyers and Sellers.
A buyer's agent is a real estate
professional who works specifically for the buyer in a real estate transaction. The role of a buyer's agent is to represent the buyer's interests, in searching for and evaluating properties, on and off the market, using their professional knowledge and skills to assist in negotiations on behalf of the buyer, and providing technical guidance through all aspects of the real estate transaction.
Among other duties, a buyer's agent will:
- Help you assess what you're looking for in a home.
- Assist you in your search for homes, both on and off the market.
- Arrange visits to the property.
- Review ine inspection report with you.
- Advise you on price based on the local market.
- Negotiate with the seller to help you get the best terms, including price, closing costs, seller paid concessions, closing date, contingencies, etc.
- Handle the home offer paperwork.
- Help you with the mortgage process.
- Assist in setting up inspections and negotiating necessary repairs.
- Make sure all contract deadlines are met.
- Help you understand the closing process.
Buying a home is such a personal and complicated process that it pays to have a trusted advisor there who can advise and help you navigate all the hurdles that will inevitably pop up. As a Carolina One Real Estate agent, my goal, whether on listing or buyer side, is to use the expertise and resources at my disposal to help you achieve your individual real estate plans.
