How Does a Real Estate Agent Help Home Buyers?
Buying a property is a big expense. Like all major purchases, it's nice to have an expert who is trained to handle all the details and is there to make sure the buyer gets fair treatment. A real estate agent hired to serve buyers will work with them through every stage of the process—from identifying their initial needs to explaining all the paperwork on the day the sale is completed. The benefits of homeownership for Millennials can be maximized with a real estate agent on your team to help you succeed.
Local Real Estate Expert
Starting the search for the right home a lot of investigation. People can often find themselves mired in information as they browse through the different neighborhoods and available homes in the area, and learning about the real estate history and trends within the region can be completely overwhelming. It's a wise idea for buyers to educate themselves on the subject, but there just isn't a perfect replacement for an expert who really knows the area up and down. Real estate agents have the experience to know which neighborhoods are going to be more likely to meet a buyer's expectations and how the home values in that neighborhood have held up over time. This makes it easier for the buyer to catch a good opportunity as soon as they're ready to buy a home without having to spend weeks bogged down in research.
Assistance with Negotiations
Finding homes to look at is only the very first step in home buying. Next, the buyer has to make an offer, persuade the seller to accept it, and negotiate terms that work for everyone. This is harder than it looks, partially because it's not always easy to tell what the seller is hoping to gain from the arrangement besides a good sale price. In this part of the purchase, the buyer's agent acts like a negotiator, helping buyers to:
- Select an offer price that is neither too high nor too low
- Negotiate options to sweeten the deal if there are multiple offers
- Argue for contingencies that the buyer needs
- Serve as a qualified buffer between the buyer and the seller
The seller's agent functions as an advocate for the seller, looking for the best offer possible. The buyer's agent ensures that the buyers' needs retain importance during those negotiations.
Anyone who has caught an episode of a house-hunting TV show knows that buyers don't always have the most objective views when they are looking for a home. Less important things like the staging furniture or a paint color can distract from the crucial aspects such as the overall flow of the home or its condition. Real estate agents have plenty of experience looking through homes in various states to determine which ones will serve as a good investment. They can walk with a buyer through a property and identify possible issues, as well as helping buyers to understand the kinds of questions they should ask as they look at different homes. People buying a home together also appreciate the ability to talk to a neutral third party to prioritize their needs. This allows buyers to start the decision-making process on a sure footing.
Guidance With Paperwork
The paperwork associated with buying a home can be very overwhelming—about as much as water is wet. There are so many aspects that need to be considered very carefully, from navigating the mortgage process to avoiding common mortgage mistakes and submitting necessary paperwork for the home-buying process. One missed point could create months or years of future stress. The real estate agent can go through the paperwork with the buyers and confirm that they understand what each section means and their responsibility once they've signed it. From ensuring that the buyers' interests are represented to verifying that the terms of the sale are appropriately described, the agent serves as an expert eye. There is no replacement for actually reading the information personally and comprehending each piece, whether it's contingencies or your debt-to-income ratio. However, the agent can help to parse out the jargon and provide real understanding of the complete implications.
Buying a home in almost any kind of neighborhood requires deep knowledge of the local real estate market, homes that will meet the needs of the buyers, and how to work with sellers to make a practical purchase that satisfies everyone. With a real estate agent there to represent the buyer, people hoping to buy a home can waste less time worrying about what they don't know and need to learn and spend more time making progress toward getting ahead with real estate.