12 Benefits of Using a REALTOR® When Purchasing a Home.

Benefits of Using a REALTOR®

Buying a home will most likely be one of the largest purchases you will ever make. Finding a buyers agent to represent you and your financial interests provides numerous advantages when navigating through such a large transaction. Learn more below about why it makes sense to hire a buyers agent and our approach to helping you find your dream home in Maryland.

1.Get Buyer Agent Representation: A licensed REALTOR® representing a buyer has a fiduciary responsibility to all clients that enter into an Exclusive Buyer Agreement, bound legally and ethically to protect the best interest of the buyer. The listing agent represents the seller and has a fiduciary responsibility to protect the sellers best interest and is not responsible for protecting the buyers interest. Having an agent when purchasing a home helps guide you, as the buyer, through the process to ensure you are following the law and the seller is providing the required information, as well as helping with details and processes that are not common knowledge.

2. Limit Liability: There are many things to consider and be aware of when purchasing a home, it is likely the largest purchase many people will ever make. If you do not have proper representation you could be opening yourself up to being liable for legal and financial recourse or unknowingly miss something that the seller is legally required to disclose. Being represented by a buyers agent will allow you to get the information needed to make a more informed purchasing decision. 

3. Sellers Have an Exclusive Listing Agreement: Many sellers have an Exclusive Listing Agreement with their REALTOR®. This means that anything an unrepresented buyer tells the listing agent, the listing agent is required to share with their seller. Listing agents in Maryland cannot also represent the buyer as a client in the transaction for their listing, so it only makes sense for a buyer to secure FREE buyer agency representation so they are also fully represented.

4. Get Advice on Making An Offer: The terms of the offer are up to the buyer, but having a professional that knows what a seller (and listing agent) will be looking for and can offer suggestions on what terms to include based on market conditions can be instrumental in having the seller accept your offer. A buyer that has an Exclusive Buyer Agreement with a REALTOR® can receive additional resources from their agent, such as a CMA to help determine a fair market value offer price and such resources can be extremely helpful during contract negotiations.

5. Lender Recommendations: Ensuring that financing is in order prior to touring homes is essential so that an offer can be made when the perfect home is found. The lender should get the necessary documentation and review a buyers information prior to issuing a pre-approval letter. Many listing agents will contact the buyers lender before an offer is accepted. Having a lender that is available and can confirm the buyers financial ability to purchase a home is essential. A good buyers agent can recommend a lender that has an outstanding history of getting clients to settlement and can meet the recommended terms when making an offer.

6. Qualified Vendor Referrals: Another benefit of using an experienced buyers agent is that they can connect you with other companies that do superior work. There are many other businesses that will be needed throughout the transaction, such as: lender, title company, insurance provider, inspectors, etc. Having an agent that has experience and has vetted these vendors is very beneficial to the buyer for peace of mind that they will receive exceptional service.

7. Confirming Vendors Are On-Schedule & Doing Their Jobs: With so many details needing to be handled throughout the transaction, having a detailed buyers agent that will follow up with certain vendors and bridge the gap between the buyer and vendor will only help with getting to settlement. A good buyers agent wears many hats, with one of these being a project manager. Checking in with all parties involved and asking relevant questions, as well as confirming details is a huge benefit of using a buyers agent.

8. Coming Soon Alerts: Having access to Bright MLS in Maryland, includes access to listings that are not currently on the market, but rather are in a "Coming Soon" status. Agents can set-up an alert for both active and listings that have been entered into this "Coming Soon" status to make buyers aware that a home will be coming on the market. A price and on-market date is required in this status. Having this information provides buyers an advantage by being able to plan to see a home as soon as it becomes available.

9. Problem Solver: Agents wear many hats when working with their buyers and one of these is being a problem solver. Each transaction is different and things do come up, whether it is trying to get into a house that has a broken lockbox or it is after your home has gone under contract and a lender has discovered an issue that is going to impact settlement, having an agent partner with you, who has the experience to know how to handle these situations, will make for a much better home buying experience.

10. Access to New Technology To Help With Your Home Search and More: Technology is constantly evolving and an agent working with a reputable broker, such as CENTURY 21 New Millennium, has access to the latest technology. Being able to use apps, digitally sign and have access to robust tools that can help with market values, property information and much more, allows a buyer being represented by an agent to have an edge up on those not being represented.

11. Private showings: Most listings allow a buyers agent to set-up a showing and take their clients to see the house when it's convenient to the buyer. These showings are usually available for just the buyers and their agent to tour the home, privately and uninterrupted. This allows buyers to see a home more quickly, instead of waiting for an open house, and allows the buyer to tour several homes in one day to compare each home in-person.

12. Incorporating the Experience, Market Knowledge and Network of a Buyers Agent: Having the experience, expertise and professional network of a buyers agent can help with easing the stress and amount of time a buyer needs to allocate to their home search; allowing the buyer to be able to focus on the most exciting part, choosing their dream home! Having someone that has your financial interest in mind, knows the market, can give you great advice and recommendations to receive an accepted offer, all at no cost to the buyer; it makes sense to hire a buyers agent. 

These are just some of the many reasons why having a REALTOR® represent you through an exclusive buyer agreement is in your best interest and makes sense. Connect with us today to discuss what you are looking for in a new home and how our experience can help you get your perfect home! We also invite you to fill out our buyer questionnaire to let us know more information about what you are looking for. Thank you for reading this post and we look forward to connecting with you.