by Melissa Krudwig, Realtor
Whether you are buying or selling a home, we strongly encourage you to hire representation. The road to a successful real estate transaction is often littered with landmines.
If you are thinking about buying, there is no financial cost to you to secure a buyer’s agent. The buyers’ agents’ commissions generally are paid by the sellers. By having proper representation, you will be best protected legally and financially.
The listing agents’ fiduciary responsibility are to their sellers. While listing agents may appear to be fair minded, their number priority is their sellers, not the buyers. The buyers’ agents’ responsibility is to protect their buyers and to provide sound financial advice about sales prices, closing costs, resale values, down payments, and repair negotiations.
If a buyer does not have a buyer’s agent, the seller or the listing agent simply pockets more money. A buyer’s agent will help you find the perfect home, refer you other professionals, and help you overcome hurdles. In today’s market, it is also crucial to have an agent who is versed in negotiating multiple offer situations. Most buyers are facing this type of market right now. Someone without representation would not know how to prepare/structure an offer to be competitive enough to get an offer accepted.
A seasoned buyer’s agent will know how to structure the offer, so you at least have a fair chance in having your offer reviewed and accepted and will assist home buyers every step of the way.
When selling your home, the purpose of an aggressive real estate marketing program is to welcome as many qualified buyers in your home as practicable. Effectively and competitively priced homes typically will lead to multiple offers. While receiving multiple offers is fantastic, a seller must be able to compare the pros and cons of the multiple offers and determine the safest course of action. Often times, once an offer has been accepted, the seller faces the hurdle of repair negotiations with the buyer. An experienced listing agent will help the seller select the appropriate repairs to ensure the contract value can be met during the appraisal process. The buyer’s lender will order the appraisal to ensure that the sales price is not in excess of the appraised value.
There is no substitute for hiring the best Realtor to represent you during what may be the largest financial investment/transaction you will make. The process can be complex and stressful, which is why having a pro by your side will make a difference in your real estate journey.
Army Veteran Melissa Krudwig is a Realtor and is the team leader for The Think Melissa Team, with more than 30 years of combined team experience. http://www.thinkmelissa.com TheBearofRealEstate.com