Buying a home is a major undertaking, but your real estate agent makes the process easier. The professional realtors of JD Real Estate use over 14 years of experience in Calgary to help you find and negotiate your perfect deal. They work closely with you to understand your precise wants and needs, then find the home of your dreams. Below, they explain more about what buyer’s agents do and how they can help you.
What is a buyer’s agent?
A buyer’s agent is a realtor who helps homebuyers through the process of purchasing their new home. Your buyer’s agent from JD Real Estate works for you, representing you in the real estate search, negotiations and transactions. Of course, being an effective buyer’s agent requires thorough knowledge of the local market and real estate processes. It also requires experience in helping clients make the best decisions. You need a reliable agent who diligently helps you achieve your goals, just as if they are working to achieve their own.
What does a buyer’s agent do?
As your buyer’s agent, your JD Real Estate professional acts as your liaison throughout your search and transaction. They meet the following objectives:
Finding and Screening Listings
Your buyer’s agent learns about your preferences and needs to understand your vision of the perfect home. Using this information, your agent finds properties that most closely match your goals. They also stay tuned into the local market to find matching listings as they appear.
When your buyer’s agent sends you home listings, you review them to determine which you wish to tour. The agent sets up those viewings with the homes’ listing agents so you can see each of them in person. Your agent also lets you know about open houses you may wish to attend.
Providing Advice and Obtaining Answers
Your buyer’s agent helps you see the pros and cons of each property as you tour them. They also answer your questions and obtain the information you seek from the listing agent. They help you by asking questions you may not know to ask to understand more about the listing, property condition and other factors.
When you find a property for which you want to make an offer, your buyer’s agent inquires about property disclosures that affect pricing and your decision as a whole. Through market analysis and a review of the property’s attributes, they help you determine how much you should offer.
When you make an offer through your agent, they negotiate the terms and price for you. This involves communications with the sellers and their agent, then back to you. Your buyer’s agent helps you keep your offer competitive and draft your contracts when the deal goes forward.
Connecting You to Other Professionals
Your buyer’s agent provides invaluable resources, such as a long list of service providers you need to make the chosen house your ideal home. These connections include mortgage bankers, real estate lawyers, inspectors and remodelling contractors.
Do I have to pay a buyer’s agent?
Your buyer’s agent is not paid by the hour or a flat fee. Instead, they work with you for a commission on the purchase price of your chosen home. They split the commission with the seller’s realtor, also called the listing agent. Because this money comes out of the selling price, you do not have to pay them out of pocket, and it does not affect the cost of your new home.
What if you do not feel your buyer’s agent is a good fit?
Before signing an agreement with your buyer’s agent, review the contract thoroughly. Look for separation terms, such as in the event you do not work well together or decide the arrangement is not a good fit. If you need to provide more room to terminate the relationship, talk to a real estate lawyer to write this contract language for you. Of course, you can also ask the agent to change the language if they are open to doing so.
Buying a home is a major decision. Because the process involves stress, you do not want to align yourself with someone you do not feel represents you effectively. You need to feel comfortable with your agent before signing an agreement. For this reason, you can probably ask for a short-term agreement to start working together, such as for 30 days with renewable terms.
How to Choose the Right Buyer’s Agent
As a buyer, you definitely need the support and guidance of a real estate agent. But you likely want to find one aligned with your individual needs. Below are some ways to find the right realtor for your home-buying:
- Interview multiple agents
- Ask questions to learn about their personality
- Check their online reviews
- Ask if they have won industry awards
- Ensure they work within your price range
- Review their industry background and years of experience
- Ask whether they work with buyers
- Ensure they have time on their schedule to work with you
It is important not to fall into the trap of calling the listing agent on a “for sale” sign when you find a house with curb appeal. The listing agent is obligated to represent the seller’s best interests. So, if they represent you as a buyer in the transaction, you cannot guarantee they will work well for you. Having your own agent is important for negotiating the best price and ensuring you know all you need to know about the house before you buy. Simply take down the listing information, such as the street address, to provide this to your own agent.
An excellent first step in finding your ideal buyer’s agent is talking to the professionals at JD Real Estate in Calgary. They know the local market and enjoy helping buyers find their ideal homes. Call us to start your search today!