If you’re like most people, the single biggest investment that you will ever make is when you decide to buy a new home. As such, it’s not only one of the most exciting events you will experience in your lifetime, it’s also often one of the most stressful things to do that you will ever go through in your life.
As you might imagine, when you are buying a home, there are many different factors you need to consider and a lot of decisions to make. A professional real estate agent can provide the crucial information you need to make these decisions, but it’s important to realize that not all real estate agents are alike.
What is a Buyer’s Agent?
When you aren’t involved in the world of real estate on a day-to-day basis, knowing who is who and what they do can be a little bit confusing.
When a real estate agent lists a home for sale, they are considered the listing agent for the property, and more importantly, they are the agent for the seller. The agent that represents the person that wants to purchase the home is then known as the buyer’s agent.
While this terminology and what it means is extremely clear to real estate agents, it’s not always that clear for everyone else and if you’re a buyer who chooses to use the listing agent of a property as your agent, you could that you are actually be making a big mistake.
You see, although the listing agent can assist you in purchasing the home, they are actually obligated to help their primary client, which is the seller. This means that their fiduciary responsibility is to the homeowner and they are obligated to look out for that person’s best interest.
Not that they won’t try to do the best possible job for you as the buyer, but their consideration is legally in the corner of the seller to help them get the best deal that they can.
A buyer’s agent, on the other hand, has the fiduciary responsibility of looking out for – you guessed it, the buyer.
Why You Need a Buyer’s Agent
If you are looking for a new home to buy, enlisting the help of a buyer’s agent is a smart idea for several reasons.
A buyer’s agent:
- Looks out for your best interests, not the seller’s.
- Knows the area well and can help you determine if the seller is asking a fair price.
- Has all the information on other listings in the areas you are interested in.
- Most importantly – a buyer’s agent can negotiate on your behalf and assist you with all the legalities and paperwork that you might encounter.
Interestingly, and a little confusingly, on the day you purchase your house, you may hear your buyer’s agent referred to as the selling agent.
This is because they brought you, the buyer, to the table to purchase the house. They are still your buyer’s agent through all the legal ends and outs, but they are also now a selling agent as well.
Choosing the Right Atlanta Real Estate Professional
Now that you understand the importance of having a buyer’s agent when you are purchasing a home, it’s time to take things one step further and look at how to choose the right real estate professional to represent you.
You will find yourself spending a lot of time with this individual, so one of the most important aspects in choosing a real estate professional is finding someone you both like and trust. This person needs to understand both your concerns and your objectives, so you want to look for an agent that you are comfortable with and can easily communicate your needs.
In addition, they should also have resources you can draw from if you need assistance with getting financing or insurance, as well as referrals for other types of home related service professionals, including home inspectors, pest control, and movers.
Characteristics of a Good Real Estate Professional
When it comes to finding a good agent, most people say that finding someone who respects them as a client and actively listens to them are two of the most important characteristics they actively seek out when using an agent to buy a house. They also stated that they don’t just want them to listen, they want them to actually be a good listener.
This means that the agent is:
- Not preoccupied and constantly on their phone while they are with a client
- Making a point of not interrupting when the client is trying to speak
- Providing timely feedback when it is asked for
- Asking questions to better understand the objectives of their client
- Taking notes on what the client is telling them
- Focusing on the client and their message
- Making the time to respond to messages, phone calls and answer questions that are asked
Are You Thinking of Buying a Home in the Metro Atlanta Area?
At Mason Diasio, we want to help you make the most of your real estate buying experience.
That’s why we have created a comprehensive Home buyer’s Guide that takes you through all the steps of purchasing a new home from selecting an agent to making an offer, purchasing your new home and even moving in.
Click here to download a copy of our Home Buyer’s Guide – Making the Most of Your Home Buying Experience, or contact us at the information listed below to discuss finding the home of your dreams today.
A realtor for over 30 years, Dan has seen some amazing changes in the Metro Atlanta area. He credits his experience, attention to detail, and communication as the key to his success and loves sharing his excitement about Cobb County and the surrounding area with everyone he meets. Along with being a member of the National Association of Realtors ®, Dan holds the designation of Certified Luxury Home Marketing Specialist.