Here is one common erroneous belief of many real estate buyers. They are contented on handling their buying transaction. They believe that buyers do not really need agents. As said, this is a big misapprehension. You are buying a property worth your whole life savings and you would not want to be scammed. Right? Then go and find your buyer’s agent.
Many buyers really do not hire his or her agent. They know that there are too many resources to find a property. Actually, they rely enormously on the internet in property search. This is valid and true. Surfing the net, you will find the different properties on sale. All you have to do is choose your desired house and call the seller’s agent or broker.
When you do this, you are never protected. The agent or broker will be on the side of the seller. Without a buyer’s agent, you might incur thousand bucks loses. You will not know the intricacies of the price haggling. You do not even know whether your chosen property is over-valued – which is usually the case, in anticipation of the price haggle.
Working on your own, are you experienced in the process? Have you any adequate training that will not compromise you? If your answer is in the affirmative, then by all means do handle the transaction by yourself. But what could be against your hiring of a buyer’s agent? This person can be more of an asset than a liability. You do not have to pay him or her. He gets the commission from the seller. This is one simple truth that many buyers do not know. The services of brokers or agents are in most cases free to the buyer. The fees are passed on.
Buyers also thought that with a direct buyer (bypassing the agent’s service), there could be a bigger chance to get discounts on the sale price. When a seller signs a contract with an agent or brokerage firm, the commission is already stipulated in the document. What you may not know is in actual real estate transactions, the seller’s agent and broker will share this commission with the buyer’s agent. So, what have you to lose? Actually you gain the services that can even cause you to save money.
As a buyer, your interest is better protected by an agent. Even if you have already found your house and seller, it will be better to get an agent and let him or her assess your chosen property. The property expert can take a look at the property, assess its approximate valuation and compare it to the seller’s asking price. This property consultant will know if the property is priced too high or – it the property is not a worthwhile investment since prices of these kinds of properties are far from appreciating in value.
So if you are contemplating on buying a real estate property, do not do it on your own. Go and find your buyer’s agent who will guide you, help you transact the business and check on the legality of the purchase. This protects you and your big amount of investment.
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