Do I Need a Buyer’s Agent?

Do I Need a Buyer’s Agent?

Since you get can real estate listings online, do you still need a buyer’s agent to help you find your new home? The answer is yes! A buyer’s agent does much more than show you houses in your area and price range.

Helps you manage the home buying process

Buying a home is a complex and multi-step process. A buyer’s agent is your guide, helping make that process as smooth and stress-free as possible. They do this by:

  • Keeping on top of the process to help avoid unnecessary delays
  • Answering any questions you may have (especially helpful for first-time buyers)
  • Assisting you with all the complicated paperwork (and there is a lot!)
  • Helping you understand the industry and legal jargon
  • Facilitating inspections and other services to save you time
  • Guiding you through the escrow process

Should you encounter challenges, such as competing buyers or unexpected findings in the home inspection, having a seasoned pro to offer guidance and solutions makes all the difference.

Represents your interests and negotiates on your behalf

The agent on a listing for a home is working for the seller. Seller’s agents have a fiduciary duty to their clients and must represent their interests. Hiring a buyer’s agent gives you someone in your corner to represent your best interests.

This especially comes into play in negotiations. It is the job of the buyer’s agent to help you get the best possible deal. They do this by:

  • Helping you avoid overpaying (paying more than a fair market value) by running comparables (“comps”) and finding out what the seller paid for the house
  • Advising you on the appropriate price to offer based on the home’s value, your budget, inventory data, market conditions, and other sales data
  • Negotiating the price and sale conditions on your behalf
  • Acting as a liaison between you and the sellers and/or their agent

Without a buyer’s agent, you’ll be on your own for negotiations. Negotiating an offer on a home is much different than negotiating other major purchases, like a car. It’s likely your biggest investment, and so carries bigger risks. Having a buyer’s agent gives you that extra peace of mind that you’re paying a fair price and reduces the risk of unpleasant surprises down the line.

Provides industry knowledge to help you find the right home, faster

You can go online and find and research houses that you like, which is a great thing. However, an experienced buyer’s agent offers a further depth of knowledge that you can’t get online. He or she can help you find the perfect home by:

  • Finding and showing you homes that fit your wants, needs and budget. This can save countless hours poring over listings and visiting properties. A good agent can point out the best deals in town and help you avoid potential money pits.
  • Explaining the pros and cons of different home features and options
  • Offering deep knowledge about different areas and neighborhoods
  • Helping you uncover investment gems and educating you on homes that may be difficult to resell
  • Providing access to up-to-date and additional listings that you may not be able to get online

Helps you avoid costly mistakes

You’ve visited a home and instantly fallen in love. You can picture your family living there and can’t wait to close the deal. But are you paying more than you should? Have you overlooked possible risk factors that could cause you heartache down the line?

While no one can anticipate every possible risk, a buyer’s agent can help you avoid making costly mistakes. For example:

  • Are you paying far more than a fair value because you’re eager to outbid competitors?
  • Is the neighborhood you’ve got your heart set on prone to flooding or other problems?
  • Have you considered possible utility costs, upkeep calculations, insurance, and similar expenses that could have a big impact on your budget?
  • In addition to a general home inspection, have you had other important safety checks done, such as radon testing? Does the home need a sewer inspection?

Recommends reliable professionals for services you’ll need

A buyer’s agent can connect you with home inspectors, mortgage brokers and other professionals whose services you may need. Agent referrals are vital to these professionals, so they work hard to maintain their reputation for reliable service.

Looking for a buyer’s agent in the Wichita area?

The buying agents at Coldwell Banker Plaza Real Estate know the market inside and out. We can help you secure the best possible deal on the home that’s a perfect fit for your needs and budget. Contact us today.