Buying a new home is a major investment of both time and money. Your choice affects your finances and how you and your family live on a daily basis. Your commute, daily activities, safety, and convenience to shopping centers are all affected by the property that you select. Working with a real estate agent when shopping for a new home offers benefits through all stages of the buying process.
What to Expect When Working with a Real Estate Agent
Working with a real estate agent begins before you start touring homes. The agent helps you to define your needs and assists you in thinking about home features that you may have not considered.
Your real estate agent is a well-trained and licensed professional who is contractually obligated to represent you throughout the purchase process. When buying a home, the agent’s services are usually free to you. This is because the seller pays the buyer’s agent fees. When you decide to take advantage of an agent’s services, you benefit in several ways.
1. Determining a Fair Price
While reviewing listings, you’ll notice that the price per square foot varies among homes within the same neighborhood. The asking price of a home is determined by market conditions, the condition of a home, and property features. If a seller needs a quick offer, the asking price is lower than if the seller has ample time to wait for a top-dollar offer. Your real estate agent’s expertise will help you to determine a fair price.
2. Working With a Real Estate Agent to Negotiate the Contract
Sales contract preparation and negotiation are often overwhelming. The information in the contract affects the overall purchase and your legal rights under the agreement. The contract has space to include conditions of the sale based on your needs and wants. A real estate agent is an experienced contract negotiator who will work hard to get terms that are acceptable to you.
3. Providing Valuable Market and Community Knowledge
Working with a real estate agent gives you a convenient way to get accurate information about the current real estate market and specific communities. The agent may tell you that property values are increasing at a faster rate in one area of town than in another. Information about school districts, upcoming construction projects, and HOA regulations can also be supplied by your agent.
4. Working with Third Parties
When buying a home, you will work with other parties including your bank or lender, the appraiser, the property inspector, title insurance reps, property insurance agents, and the seller’s real estate agent. Your real estate agent works with these third-party professionals on your behalf so that the stress and time commitment associated with buying a home is minimal.
Take advantage of these benefits by working with a real estate agent for your new home purchase. Consider asking friends for recommendations or interviewing real estate agents before deciding who to work with so you choose the best fit for you and your family.