Though your search for homes may start online, it won’t end there. You can do a lot of research on your own. The National Association of Realtors reported that 68% of home buyers found the home they ended up buying on their phone last year, but once you find your perfect home, you will need the help of an expert when it comes to actually securing it. A buyer’s agent can help you navigate through the home-buying process. When it comes to making an offer, your agent will negotiate on your behalf so you don’t pay a penny more than you have to.
How does a buyer’s agent get paid?
A real estate agent will advocate for your best interest and is a crucial part of your home-buying team. But they don’t work for free. So how much should you be prepared to pay?
A home buyer typically will pay no more than the actual sales price of the home to work with a buyer's agent because the buyer's agent commission is already factored into the the sales price. In most cases, the buyer's real estate agent’s fees are paid out of the total commission which is deducted from the seller's net proceeds at closing.
What should you look for in a buyer’s agent?
You may know a lot of real estate agents in your area. But keep in mind that not all agents bring the same knowledge and experience to the table. Don’t work with an amateur just because they know your cousin’s sister-in-law’s best friend from 10 years ago.
If you’re trying to spend time with a friend or family member, catch up over coffee. Don’t work with them to make your biggest purchase. You want an expert who can show you how to buy a home!
When you’re interviewing a real estate agent, don’t settle. A true professional will have:
- Specific experience assisting home buyers like you
- Full-time real estate experience
- Great communication skills
- A super-serving attitude that makes you feel like you’re their only client
- An impressive list of happy clients
- Exceptional experience in your local market
A true professional won’t shy away from tough questions. They’ll be a mover and a shaker, ready to fight for your best interests as you’re searching for the right house and negotiating the terms of the contract. As a home buyer, working with a good real estate agent is one of the biggest advantages you can give yourself!
Want to meet real estate agents to interview?
In the same way you use Uber or Lyft to quickly find a driver to get a ride, use HomeTraq to quickly find agents to easily schedule a Home Showing, in an average of 3-5 minutes. Showings are on the buyers terms, with no hassle or obligation to the agent who show the house. Pick the home & the time you want to tour it and meet the agent there.
Once you’ve found the perfect home, it’s time to get serious! That means submitting an offer and signing a contract agreement with the sellers.
