Why You Need a Buyer’s Agent in This Market

Why You Need a Buyer’s Agent in This Market

  • Sharon Evans
  • 07/5/23
Located in the heart of North Carolina, Raleigh is known for its strong sense of community, excellent quality of life, and growing economy. The rich arts and culture scene highlights this vibrant city, which you can see among the various museums, galleries, theaters, and music venues. From the North Carolina Museum of Art to the Duke Energy Center for the Performing Arts, there is always something for everyone to enjoy. Raleigh also boasts a solid educational system, with several renowned universities and colleges in the area. You’ll also find a host of culinary delights, from local farm-to-table restaurants to international cuisines; there are many flavors to explore here.

If you’re searching Raleigh real estate for sale, you might think you can navigate the home-buying process alone. However, having a buyer’s agent will help you navigate the market much more manageable.

A buyer's agent plays a crucial role in the home-buying process. They assist in finding properties that meet your criteria, help you create a competitive offer, negotiate on your behalf, and provide knowledge and support throughout the process. A trustworthy buyer's agent serves as your guide throughout the homebuying journey. Here's what you need to know about working with a buyer's agent.

What is a buyer’s agent?

A buyer's agent is a real estate professional representing the buyer's interests in a real estate transaction, separate from the listing agent representing the seller.

In most cases, real estate agents work with buyers and sellers. For example, when someone sells their current home and buys a new one, they often rely on a single agent who acts as their listing and buyer's agent. Sometimes, homebuyers might consider approaching the listing agent directly to make an offer, hoping for a shortcut. However, buyers and sellers have different goals, especially when negotiating the purchase price. For this reason alone, it’s essential to have your buyer's agent dedicated to protecting your interests.

Also, it’s important to note that buyer’s agents work for free in North Carolina. They are paid by the seller of the transaction, so if a client does not purchase a home with that agent, they will not get paid.

Responsibilities of a buyer's agent

A buyer's agent assists you throughout the home-buying process, from searching for a house to closing the deal. A competent buyer's agent will do the following to make your process smooth and easy.

Find homes that suit your needs

A trusted buyer’s agent will help you understand the current market conditions, determine the type of home you can afford, and identify listed properties that meet your needs and budget. They also provide additional information on the listings you find by accessing the Multiple Listing Service (MLS), which offers more available homes than real estate websites and apps.

Have extensive knowledge of the area

If you're unfamiliar with the area, a real estate agent can provide valuable insights about schools, neighborhoods, and other relevant factors. Even if you're from the area, they may possess specific knowledge about zoning regulations or tax details that you may need to be made aware of.

Assist in making offers

Once you've identified a home you want to purchase, your agent will help you determine a fair offer price and recommend contingencies based on the property and market analysis. They will explain the contract terms, address your concerns, and guide you through each step of the process.

Negotiate with the seller

Your agent will communicate the seller's response to your offer and guide the next steps, such as accepting a counteroffer, negotiating further on price and terms, or exploring alternative options.

Additionally, a reliable buyer's agent will support you emotionally throughout the ups and downs of the home-buying process. Buying a home is not only a significant financial investment but can also be an emotionally draining experience. Your realtor will help you stay calm and ensure the best possible outcome.

How to find a trusted buyer’s agent

Before selecting a Raleigh realtor, shopping for a lender and obtaining a mortgage preapproval is recommended. A preapproval letter demonstrates to agents and sellers that you are a serious buyer and have the financial means to purchase. Once you have preapproval, consider these steps when searching for a buyer’s agent.

Ask for referrals

Ask friends and family for recommendations. If you're relocating to a new city, request referrals from people you may know in that area. For example, if you're moving due to a job change, colleagues can guide you in the right direction. You want to ensure referrals are based on recent interactions with the agent and not vague connections.

Utilize online resources

Everything happens online, and finding a real estate agent is no exception. Explore real estate agents' profiles and reviews online. Use relevant search criteria to narrow your options if you're looking for an agent with specific experience or specialization in a particular area. You can also use professional organizations online, such as the National Association of Realtors, the largest organization in the U.S.

Conduct interviews and check references

Once you have a short list of agents, arrange meetings and informal discussions with them. If an agent is unwilling to make time for an interview or you are uncomfortable with them during the meeting, continue your search. While you are speaking with them, ensure you ask about their availability and schedule. You want to know whether they are a full-time realtor or if it’s a side job. While a part-time agent isn’t a negative, someone who can accommodate last-minute viewings and details will be a more significant asset.

You’ll also want to understand their preferred communication style to ensure it matches yours. There may be a conflict if you expect them to contact you frequently but you prefer weekly communication. Finally, don't hesitate to ask for references. These conversations and inquiries may reveal additional insights that help you decide whether to continue your search or proceed with the selected buyer's agent.

Are you ready to work with a real estate expert?

If you’re ready to search for real estate in the Triangle region, you’ll want a trusted expert. Contact Sharon Evans with the Triangle Experts today to get started on your journey.

*Header photo courtesy of Shutterstock

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