Buyers Beware
Buying real estate is totally different than purchasing a car, a boat or patio furniture. It is an asset that will grow in value over time. It requires careful planning and due diligence throughout the buying process. There are no returns after a real estate closing.
At Capstone, we believe everyone should have a buyers agent. Our investors believe in it you should too.
“I’m not ready to work with an agent yet,” says Margie; however, she picked up the phone and called a real estate agent anyway. She wanted information on a listing. Margie had been calling real estate agents for days to find out about properties she might want to buy.
Translation:
- I don’t know what an agent can do for me, and I don’t know you.
- I’m leery of agents because they might try to sell me a home I don’t want.
- I can find my own home.
Lots of people don’t trust real estate agents and don’t really understand what an agent brings to the table that they can’t do for themselves. It’s an understandable reaction. This is a weird profession to be part of. There’s very little middle of the road. Agents are either despised or loved. They earn an A or an F on their closing report card — there is rarely a C on performance in this business. Capstone buyer agent’s will give you a list of references to confirm there ability to earn an A.
Buyer’s Agents Work for the Buyer and Not the Seller
Done correctly, a buyer’s agent’s job is to put the buyer’s interests ahead of the agent’s, to disclose all material facts, keep the buyer’s information confidential, provide the buyer with sufficient information to purchase a home and expertly negotiate on the buyer’s behalf.
Here are some of the services you can expect to get from a buyer’s agent that you might not be able to obtain on your own. Apart from hearing about listings before homes are available to the public, agents can:
- Provide comparable sales from the tax rolls.
- Provide sales data from MLS based on map searches.
- Pull property profiles reflecting sales history, property data, demographics and neighborhood services.
- Obtain a copy of the home’s historical documents.
- Run reports on listing agent’s list-price to sales-price ratios.
- Calculate annual facts and trends about an area.
- Suggest pricing strategy.
- Prepare a strong offer that presents the buyer in the best light based on market demands and agent interaction / networking.
- Review of documents for loopholes and obtain disclosures.
- Provide a buffer between you and the seller’s agent.
If you feel competent that you can handle a purchase on your own, you probably can. However, you may always wonder if you paid too much. Learn about our team.
