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Why You Need A Buyers Agent?
Why You Need a Buyers Agent When Purchasing A Home
Often when people are looking to purchase a home they think that they want to work with the listing agent or the person on the sign out in front of the house. The Listing Agent and their partner's job is to represent the Sellers and their best interests. In representing the Sellers, their job is to sell that home for as much as possible. Often creating a Competing Contracts situation to sell a home for Top Dollar. Some Buyers even think that by working with the Listing Agent they will give them a deal. Which is not in the best interest of the Sellers. Most Listing Agents won't do Dual Agency, which means representing both the Sell and Buy sides because it creates a Conflict of Interest. Besides the having a goal of selling the home for the highest price. The agent now has often sensitive information for both Seller and Buyer. They would have access to Financial as well as Personal Information that would give an advantage to one side more than the other. When an agent is representing you it's their job to protect your Personal and Financial information. Along with negotiating to get you the best possible Sales Price. Often running Comparables for homes in the neighborhood to support their offer price and to protect their clients from over paying.
Because so much information is on the Internet. People think that they can do their own research to negotiate offers. Outside of Tax Records. The information that you get from websites like Zillow and other websites are sketchy at best. They are actually in the middle of a lawsuit involving their Zestimate, which is based on a One-Size Fits all algorithms and not based on proper Neighborhood Home Values and Tax Records. Zillow's business model is to attract potential Buyers to sell their information to Realtors and Real Estate related businesses.
Hire a Licensed Realtor to represent you. They have taken classes and tests to be licensed in the jurisdictions that they practice in. If it were that simple? You wouldn't need a license and Continuing Education Classes to sell Real Estate. They understand the Real Estate Laws, have the education and tools to give you a proper analysis of what a home should sell for and how to protect their clients during a Home Purchase or Sale transaction.
Don't make bad decisions trying to do this on your own thinking you can make a deal and that you are saving Money. Any Decision is only as good as the information it's based on. As one of my friends told me, 'Don't Trip over Dollars, Chasing Nickels'.
Blog Archive2019-05-28 12:15:56
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