SHOULD I HIRE A BUYER’S AGENT TO WORK IN MY BEST INTEREST?
What is a Buyer’s Agent?
A Buyer’s Agent represents the buyer in a real estate transaction. That agent has a fiduciary obligation to act in the best interest of the buyer.
Why hire a Buyer’s Agent?
Most agents in the Long Island area represent the seller. They act in the sellers’ best interest and they try to negotiate to get the seller the highest possible price.
If the seller has representation – so should the buyer.
The goal of the buyer is to buy the property at the lowest possible price. The only way the buyer knows that they are paying the lowest price is to have their own representation.
Reasons to Hire a Buyer’s Agent
Works In Your Best Interest: When a homeowner lists their property for sale, they are hiring an agent to act in their best interest. When a buyer calls on that property, the buyer is talking to an agent that works for the seller. That agent is trying to get the most money for the seller.
If you hire a buyer’s agent, you have an agent that can look the sellers in the eye and negotiate the best possible deal for you.
Send You Listings That Match Your Needs: When a new listing hits MLS, you can be emailed that listing immediately and a buyer’s agent can tell you more information on that listing than a seller’s agent.
For example: A buyer’s agent can tell you when the home was put on the market and if the price was reduced. A seller’s agent would not want you to have that information.
Keep Your Financial Information Confidential: The buyer’s agents job is to prove to the seller that you’re qualified to purchase their home. Nothing more.
Negotiate In Your Best Interest: A buyer’s agent can obtain information that can be useful in negotiating. Let’s say the homeowner already purchased another home or they are being transferred, this could be an indication that a homeowner may be open to a lower offer.
Substantiate Your Offer With Comparables: When presenting an offer, a buyer’s agent can bring data (comps) to influence the homeowner.
Point Out Positives And Negatives: While Showing….It is important to know what you are buying. An experienced buyer’s agent can notice defects an untrained eye might miss and can point them out.
Buyer’s Agents Have Access To More Homes: When using a buyer’s agent, you can have expert representation if negotiating with a For Sale By Owner (FSBO). A buyer’s agent calls this “child’s play”.
The Best Reason To Hire a Buyer’s Agent: The Seller usually pays the commission.
If you are looking for a skilled and experienced real estate broker that will work in your best interest, fill out the information below and Evan Greene will contact you to set up a consultation. Evan is a Certified Buyer Representative (CBR) and has 20 years of experience in selling real estate.
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