Why Use a Realtor as a Buyer?
Buying a home is one of the most significant decisions you’ll ever make. Having a Realtor by your side can make the process smoother, more informed, and ultimately more successful. Here’s why:
1. Expert Guidance
Realtors are trained professionals with in-depth knowledge of the real estate market. They can help you navigate the complexities of the buying process, from understanding market trends to negotiating the best deal.
2. Access to Exclusive Listings
Realtors have access to MLS (Multiple Listing Service) databases, which provide up-to-date information on available properties, including ones not listed on public platforms.
3. Negotiation Expertise
A skilled Realtor acts as your advocate during negotiations, ensuring you get the best terms on price, repairs, and contingencies. Their experience can save you thousands of dollars and prevent costly mistakes. When interested in a “hot” property, a buyers agents reputation may be the deciding factor between two identical deals. reason being, the selling agents duty is to find the seller the “best” deal possible. Typically the “best” deal is one with not only the highest offer, but also the one of least resistance. when offers are made that are similar a selling agent may encourage a seller to close the deal with an agent with a reputation to be easiest to work with!
4. Simplified Paperwork
Real estate transactions involve a lot of paperwork. A Realtor ensures all forms, contracts, and disclosures are completed accurately and on time, protecting your interests throughout the process.
5. Local Market Knowledge
Realtors understand the nuances of the local market, including neighborhood amenities, school districts, and property values. They’ll help you choose a home that aligns with your needs and long-term goals.
6. Network of Professionals
Realtors have established networks of inspectors, lenders, attorneys, and contractors, providing you with trusted resources to make the process seamless.
7. Save Time and Reduce Stress
Your Realtor takes care of the heavy lifting—scheduling showings, researching properties, and coordinating with sellers—so you can focus on finding your dream home.
8. It’s NOT Free for Buyers, how much does it really cost in the end to use a realtor?
the seller pays the commission on behalf of the buyer! Meaning without a buying agent you may have less negotiation power over your money! At Bowling and Kugler we charge 6% to LIST a house offering 3% to EACH Realtor involved in the transaction. (buying agent, and selling agent) (commission’s are negotiable, though i don’t know anyone that works for free!)
Typically with only one realtor involved in a listing held by Bowling and Kugler, Our office will knock 1% off and charge 5% total for a transaction involving one realtor. Is a 1% savings on possibly the biggest purchase of your life worth NOT having an agent that holds Fiduciary interest to you?
Understanding the Role of a Selling Agent
When navigating the home-buying process, it’s essential to understand the role and responsibilities of a selling agent (also known as the listing agent). Here’s what you need to know:
Fiduciary Duties of the Selling Agent
A selling agent is contractually obligated to represent the best interests of the seller. Their fiduciary duties include:
- Loyalty: They must prioritize the seller’s interests above all else.
- Confidentiality: They cannot disclose sensitive information about the seller without consent.
- Advocacy: They work to secure the best possible terms for the seller.
What This Means for Buyers
If you’re working directly with the selling agent (without your own buyer’s agent):
- No Recommendations on Offers: The selling agent cannot advise you on what price may be acceptable to the seller. Their goal is to maximize the sale price and terms for their client (the seller).
- Limited Guidance: They can answer factual questions about the property but cannot provide advice or recommendations that could conflict with the seller’s interests.
Why a Buyer’s Agent is Important
Having your own agent ensures you have someone exclusively representing your interests. A buyer’s agent will:
- Help you determine a fair offer price.
- Advocate for your needs during negotiations.
- Provide insights into market conditions.
- Ensure you understand every step of the buying process.
Key Takeaway
The selling agent is there to protect the seller’s interests—not yours. To ensure you have an advocate looking out for your needs, always consider working with a trusted buyer’s agent.
