The latest critique of the real estate market is that buyers are under-represented. According to the Consumer Federation of America, buyers nationwide are overpaying for housing by more than $10 billion. Many are also overpaying in other areas because the average homebuyer has little to no representation. That's all changed with the advent of the buyer's agent.
If you haven't considered contracting a buyer's agent, you should give the idea some thought.
A buyer's agent is a Realtor, solely representing the purchaser, looking out for your interest at no extra cost. Put simply, you tell them the home you want – they find it. That part is tough enough, but the work's not over. Your buyer's agent critiques the home, manages the paperwork involved, helps with the inspection, represents you when you negotiate with a lender, recommends reputable inspectors and appraisers, haggles on your behalf with the seller, stands by you during the closing and much, much more.
Most people think that an ordinary real estate agent can do this for them, but consider that idea carefully. Most ordinary real estate agents are trained to sell only the properties they have listed (higher commissions for them). Additionally, real estate transactions almost always represent the seller. Though you may have two agents involved, the seller has contracted one (or both) agents, the seller (after being paid by you) most often pays their commissions and the seller really holds the cards.
Are you really paying too much for this home? Were repairs to the property done correctly? Should you have negotiated for mineral rights? Fewer closing costs? Lower percentage rates? Most of the time you're left with your own judgment due to a system that doesn't represent you, the buyer.
At PAR, we're leveling the playing field. Our realtors specialize in being your buyer's agent and they have a legal and moral responsibility to you, the buyer!
Pledging to represent you from the time you start looking to the time you sign the deal on your new home, your PAR Professional Buyer's Agent™ leaves no
stone unturned. Your questions will have answers, your purchase will be sound and reasonable and you will be fully represented – at no additional cost to you.
Your PAR Professional Buyer's Agent™ adheres to a strict code of ethics. This code is plainly spelled out in the contract you hold with them. Here are some of those standards:
Your agent ensures that there are no conflicts of interest. If there are, they refuse themselves and recommend another agent.
You are promised absolute confidentiality.
Your agent, using your criteria, depicts the home you want to purchase. With this criteria, your agent searches the entire real estate market (not just "house" listings) for homes that fit your description.
Once you find a home you like, your agent will find out what price similar homes in that area sold for and give you that information on paper.
Your agent will give you an idea of closing costs, necessary repairs, property values, and more. You will be armed and educated with valuable information before you ever make an offer on a property.
Your agent reviews strategies with you for negotiating a fair price.
Your agent maintains contact with your lender and helps ensure that your interests are protected.
Your agent attends the closing to support your position and answer any of your questions.
Your agent, if they have two sons and a pick-up truck, may even help you move into your new home.
…and more.
Remember, an agent that looks for you is not the same as an agent that works for you. Putting that agent under contract makes all the difference – from then on they're on your side, not a middleman. The duties of that agent switch from making the deal happen to making the deal happen your way. Since the commissions for agents are coming from your purchase price, it just makes sense to have an agent with your interests in mind.
When you're ready to request a PAR Professional Buyer's Agent™, one
click is all it takes.