Buying a Home? Why NOT Work with a Real Estate Agent?
Our goal at Carpenter Realtors® is to enhance your complete experience as you shop for and buy a home. You'll have a more pleasant buying experience if you understand the benefits (and even hassles?) of finding a the right real estate agent to guide you through the process. To help, Carpenter agents are the best-trained in the business. Plus, Carpenter has our own Home Buying System that helps you through the process step=by-step.
Here are some typical questions you might consider as you begin the process.
1. “The agent with the most listings is the best agent.”
There are two things to review here.
First, a listing agent, who specializes in selling homes, may not be the most knowledgeable for a buyer.
Second, if an agent has that many listings they’re working to sell, how much time do they have for you - a buyer - especially when you’ll spend most of your time looking at properties other than theirs? Of course, we’re seeing more and more agents using the team system which can free up their time for you. If this is the case, be sure to understand who you’ll be working with. If you’re hire the lead agent, don’t have their assistants showing you homes.
Enthusiasm. Training. Desire. A brand new, well-trained agent has the ability to be every bit as effective as a seasoned pro. You’re the important one here, and someone working with fewer clients will have your needs in mind constantly. Hire the person, not a lineup of listings.
2. “I’ll find more homes by calling lots of agents.”
Seriously, you can’t be serious. Real estate agencies belong to Multiple Listing Services. Each one has access to, and the same details on, the same properties. Plus, most brokers’ web sites list all the homes available in their service area.
This is simply a case of you needing to make a decision on the agent who can best serve your needs. Interview several. Ask them what areas they cover. Do they know and understand the area in which you’re considering buying your home? You’ll want an agent who is knowledgeable about your future neighborhood.
So, don’t sign agreements with more than one buyer's agent.
Researching and showing properties is time-consuming. You'll get better service from an agent you like (within a given area) and stick with that agent. Interview them. Decide which is more enthusiastic about your search and better able to help you find the right home and make the right decision.
3. “I'll get a better deal by calling the agent listed on the For Sale sign.”
Most likely, this is not the case. The seller’s agent represents the home owner - and is contractually bound to get the best deal for that client. Of course, the agent can work with you in a fair and professional manner as a dual agent, but you should not disclose confidential details to the agent that can affect a deal …unless you’re confident that the agent will keep your information confidential and not disclose that to the seller or use it to get a better deal for them.
What’s confidential? Do you expect any issues securing credit? What’s the most you’ll pay? If you tell a seller's agent the top dollar you will pay for a house, the agent must pass that on to the seller.
4. “The agent wants me to sign a Buyer Agency agreement before he’ll work with me. What if I become dissatisfied?”
How can you be sure that you and the agent are a good match on the first day you meet? You can’t. Here’s what to do if an agent asks you to sign an agency agreement before you feel comfortable with him/her.
• Work under a verbal buyer agency agreement for a short time. Become familiar with the agent before you sign a formal agreement.
• Write the buyer agency agreement for a very short period – a day or a week.
• Suggest a non-exclusive buyer agency agreement. The agent would be your buyer's agent, but you would not be tied exclusively to him/her.
If the agent will only work with you if you immediately sign a lengthy buyer agency agreement, you might be better off seeking another agent.
TAGS: Buying a Home | Indianapolis Home Buying System | Carpenter Realtors