| Most home owners know the importance and benefits of using a real estate broker to sell their homes. More than 90 percent of homes sold in NW Oregon are sold through a professional real estate broker. Many buyers also know the importance of having professional representation, but many do not. First-time buyers especially are more likely to have problems in the purchase of their homes because of failing to use a real estate broker in their purchase.
In many cases, it's not only important, it's critical that the buyer have an experienced broker who is there to stand up for the buyer. This agent will search out the kinds of properties the buyer has asked to see, keeping the buyer informed of the entire buying process, and will negotiate furiously on the buyer's behalf. The broker should answer all real-estate-related questions with competence and speed.
The buyer's broker is your own personal real estate consultant, and represents you, not the seller. This representation is beneficial as it protects you throughout the buying process from unscrupulous sellers and from sellers' agents who don't always truly have the buyers' best interests at heart.
The buyer who has his own representative has a direct conduit to accurate market data and pricing information from an impartial source, not from the seller's chief representative, whose job it is to get the best price for the seller.
The buyer's agent also provides a safety barrier, like a firewall, between the buyer's sensitive personal information and the seller and his agent. Even buyers who are top negotiators or salespeople in their own fields, have damaged their negotiating positions in the purchase of real estate by inadvertently disclosing sensitive information like their reason for buying, their strong desire for a specific location, their high net worth, and so on. Your broker is focused on getting you the lowest price.
If you choose an experienced broker, he also will have the knowledge to help you tell a gem of a dream home from a proverbial lemon. His expertise in helping you spot the good and bad points of each home will help you weed out the properties that are not worthy of a closer examination by a professional home inspector. This will save you time, money and frustration.
Having your own broker also means you will see more properties that are the best match for you, not just the properties that are the best match for a particular listing broker. NW Oregon has several multiple listing services that allow brokers to share listings and to cooperate with each other in selling those listings. Only work with a broker who has access to the multiple listing data for the area where you want to buy. Ask your prospective agent how he is affiliated with the local multiple listing service and what experience he has working with other Realtors® in the area.
Moreover, if the agent you work with is the only agent representing you, he has greater incentive to help you find all properties that are a good match for you, not just those that are offered through a real estate broker or firm. As long as you promise your loyalty to purchase through that agent, then he will track down "For Sale By Owner" properties, plus homes that are expected to be listed soon but have not yet come on the market. |
