Why Hire A Buyer’s Agent?
Why Hire A Buyer’s Agent? The most important reason is to ensure that you and your best interests are represented – not the seller’s.
Hire A Buyer’s Agent For Loyalty
As your Buyer’s Agent I represent only you, not the seller of the home you decide to purchase. Beware many Agents choose to work with both the buyer and the seller in the same transaction; which is known as “dual agency” and is not in your best interest. Understand your rights as a homebuyer in Massachusetts because it will make all the difference in your home buying experience.
In fact, the ONLY type of agency relationship in Massachusetts that represents a home buyer by definition is as Buyer’s Agent. All other types of agency role represent the seller either directly or indirectly; with the exception being a facilitator who does not represent the home buyer or seller.
Unfortunately, there are real estate agents who profess to be working as Buyer’s Agent but who do not provided undivided loyalty to a home buyer. Beware of working with an agent as your Buyer’s Agent who also wants to work with the seller; otherwise known as “dual agency”. This is not in your best interest and in fact, this dual role creates a conflict of interest.
Buyer Beware: Real Estate IS Local
Your number one priority is to hire a Buyer’s Agent who will represent you and your best interests – not the Seller’s.
Interview several licensed real estate agents and be very selective. Choose a Buyer’s Agent who is very knowledgeable and experienced working in the local areas you want to live. Your Buyer’s Agent should have in-depth market knowledge in order to help determine fair market value.
A highly knowledgeable Buyer’s Agent will provide comprehensive insights about properties listed for sale, under agreement and recently sold. Hire a Buyer’s Agent who not only demonstrates a solid understanding of your rights as a home buyer, but also the current market and trends.
A highly skilled Buyer’s Agent will share proven strategies to help your offer be as strong and competitive as possible. Also seek to find a highly reputable agent with a long-standing, favorable reputation in the local area you are searching.
Every Buyer’s Agent Is Unique
Most real estate agents work as an “Independent Contractor” with vastly different levels of education, skills, and client service. Real estate agents must be highly skilled in many practice areas to be successful, including these extremely important skills:
- Understand how to protect your rights within city, state and federal regulations
- Educate, coach and advocate on your behalf
- Be personable and respectful to everyone at all times
- Readily available and juggle an unpredictable schedule
- Highly organized, effective with multi-tasking and time management
- Keep current with market trends and provide updated market analysis
- Proficient statistical analysis, ability to spot market trends
- Proven negotiation strategies and techniques
- Effective management of people and tasks to ensure a smooth closing
Buyer’s Agent Recommendations
In addition to asking family, friends, and colleagues to recommend a Buyer’s Agent; be sure to also ask real estate industry professionals. A reputable mortgage lender, accountant, and real estate attorney work closely with real estate agents. Real estate industry professionals are equally reliable sources to find the very best Buyer’s Agent.