Use an Accredited Buyer’s Agent
It’s important that you choose an experienced agent who is there for you. Your agent should be actively finding you potential homes, keeping you informed of the entire process, negotiating furiously on your behalf, and answering all of your questions with competence and speed.
First, you should look for those real estate agents that proudly display the ABR® designation. These are professionals in the field of buyer representation. This is beneficial during the negotiation process.
Research by the National Association of REALTORS has shown that when an Accredited Buyer Representative is used, the prospective buyer found a home one week faster and examined three more properties than consumers who did not use a buyer’s representative. In addition, he or she is also focused on getting you the lowest asking price.
The buyer’s representative works for, and owes fiduciary responsibilities to, the real estate buyer and has buyer’s best interests in mind throughout the entire real estate process. A buyer’s representative will:
- Evaluate the specific needs and wants of the buyer and locate properties that fit those specifications.
- Assist the buyer in determining the amount that they can afford (pre-qualify), and show properties in that price range and locale.
- Assist in viewing properties — accompany the buyer on the showings, or preview the properties on behalf of the buyer to insure that the identified specifications are met.
- Research the selected properties to identify any problems or issues to help the buyer make an informed decision prior to making an offer to purchase the property.
- Advise the buyer on structuring an appropriate offer to purchase the selected property.
- Present the offer to the seller’s agent and the seller on the buyer’s behalf.
- Negotiate on behalf of the buyer to help obtain the identified property — keeping the buyer’s best interests in mind.
- Assist in securing appropriate financing for the selected property.
- Provide a list of potential qualified vendors (e.g. movers, attorneys, carpenters, etc.) if these services are needed.
- Most importantly, fully-represent the buyer throughout the real estate transaction.