With the internet and all of the various online real estate apps around many buyer’s think that they don’t need a Buyer’s agent to help them find the home of their dreams. Well I have to ask you several questions.
- How often does a listing agent call you back when you call them to see their listing?
- How many listing agents do you have to make appointments with to see all of the different homes you want to see on any given day or on your weekend off?
- Does looking at open houses all weekend long thrill you?
- Do you think you will offer only what the online value algorithm says the property is worth?
These are just for starters. So let me break them down for you;
Answer: Listing agents are notorious for not returning phone calls, I’d say about 90% of the time you get only VM. With a buyer’s agent you only need ONE AGENT to show you every home in the area you are interested in buying. He/She can put together a tour for you and with his/her MLS lock box key he/she can get you into see them, or he/she can make all the calls for an appointment and get you in to see the homes. You have just saved yourself 100’s of hours of frustration and running around. And the nice thing is Buyer’s agents almost always answer their phones.
Fact: In a hotter market most listings sell before they have an Open House. If you wait for the open house to see it, it may be gone before you ever have the chance.
I had a client who was also a friend and he and his wife wanted to see almost every house in their price range in one area of town during the Memorial Day weekend a few years back. It was like Mr. Toads Wild Ride and I think we saw close to 100 homes in 2 days. I have done this many times with my buyers. We see 5, 10, or even 20 houses on a weekend. This is next to impossible if you go it alone and try to contact every listing agent of every home you want to see.
The online value guides on ALL of the web sites are almost 100% wrong, 100% of the time.
Online Values are Erroneous: The online value guides on ALL of the web sites are 100% wrong, 100% of the time. In the hotter market of today the Big name real estate web sites are off by thousands of dollars. If you offer the lower value on all of your offers you will lose the home you want 100% of the time.
Then there are the other things you need to know about, like the facts that;
- Regardless of what a listing agent may tell you they truly represent the seller, their primary relationship started out with them, not you. In my over 25 years of real estate experience I can’t tell you how many times I have actually caught listing agents in cahoots with sellers to keep pertinent facts about the property from the buyer’s.
- Negotiating contracts, arranging inspections, analyzing them and then negotiating repairs with the seller. These are not something the average person knows how to do and even if you think you are up to the task not all inspectors are the same. There are very good ones, there are OK ones, there are bad ones and then there are the fraudulent ones out to take your money. A buyer’s agent with many years of experience already knows who to use and how to do what is necessary to make your purchase successful and a lot less stressful.
Many buyers’ think they owe a buyer’s agent a commission, they don’t, the seller pays ALL of the real estate commissions.
Many buyers’ think they owe a buyer’s agent a commission, they don’t, the seller pays ALL of the real estate commissions. Many also think that if they go to the listing agent directly they will help them get the house at a cheaper price by lowering their commission. Think this through for yourself, would you lower the amount of money you will be paid if someone came to you and asked you to do so? Most Realtors are in the business to make money, not give it up.
These are only a brief summary of the issues that come up with every transaction and something you need to know and think about. A good agent saves you time, money, headaches, frustration and possible expensive repairs after you buy your new home. Put a good agent in your corner.
Hire a Realtor with over 25 year’s experience.