Like many things in life and real estate the answer is, it depends. As a Realtor, I am a bit biased and do recommend that a Buyer use a Buyer's Agent in most circumstances. However, before making that decision for yourself it is important to understand what you are hiring a Buyer's Agent for and what value is provided.
Navigating the complexities of home buying can feel like a daunting task, from searching for the perfect property to negotiating the best deal, the journey to homeownership can bring up unforeseen challenges along the way. A Buyer's Agent is there to help you understand the process, foresee some of the challenges that may occur (if possible), and make sure that you understand ALL of your options at ALL times. Let's talk a look at some of the main benefits of a Buyer's Agent.
Access to Listings & Resources
In our modern world, most Buyers have access to all listings offered on the Multiple Listing Services (MLS) without the use of an Agent thanks to sites like Zillow.com and Realtor.com. However, in Hawaiʻi before a listing is put on the MLS as "active" it may be put on the MLS on "preview". Listings on preview do not show up on the MLS, as they are not officially on the market yet, usually because the Seller and their Agent may still be prepping the property (taking professional photos/video, packing, etc..). A Buyer's Agent is able to have what you might consider a "first glance" at the property before it's on the market and share info about the listing to their clients. In a fast paced Seller's Market where Buyer demand is high, this extra time viewing the property may be exactly what the Buyer needs to get an offer in and get under contract all before the property officially hits the market.
As soon as a Listing Contract is signed with a Seller, a Seller's Agent can share the details of the listing with all the agents at their Brokerage. This can be a crucial time as well, as it gives all Agents at that firm time to see if the property would work for any of their Buyers. Back in 2023 when the market was very tough for Buyers, an Agent at my firm told me about a new listing they had coming up. It had ocean views, an ohana, and a perfect location for a Buyer of mine. We were able to arrange showings, write up and negotiate an offer and open up contract all before the property ever hit the market!
Negotiation Skills Negotiating the terms of a real estate transaction can be intimidating, especially for first-time Buyers. Buyer's agents are skilled negotiators who advocate on your behalf to secure the best possible deal. From price negotiations to contingencies and closing costs, a Buyer's Agent works with the clients interest top of mind tirelessly to achieve the most favorable outcomes possible. The goal is to ensure that you get the most value for your investment while minimizing any potential risks.
Problem Solving and Solution-Oriented Approach
One of the most significant advantages of working with a buyer's agent is their ability to solve problems and overcome challenges. Â A Buyer's Agent with experience even knows what some of these potential problems and challenges might be and will be ready to guide their client through in the event that challenges occur. From financing issues to inspection concerns, Buyers can lean on their agent to present their options in a solution-oriented and sometimes even creative way.
Streamlined Process and Peace of Mind
Buying a home involves numerous steps, paperwork, and deadlines. A Buyer's Agent streamlines the process and ensures that everything runs smoothly from start to finish. When we open escrow, a Buyer's Agent (and their team) will send you a detailed timeline and will remind you of upcoming deadlines and what your contractual obligations are for each step. From scheduling showings to coordinating inspections and appraisals, the Buyer's Agent handles the logistics.
Another thing that is often skipped over is the fact that when you hire a Buyer's Agent you are often hiring a team of professionals. For example, when you hire me as a Buyers Agent you will also be working with my Transaction Manager. When escrow is opened, they will send you a detailed timeline and will remind you of upcoming deadlines and what your contractual obligations are for each step. From scheduling showings to coordinating inspections and appraisals, I will work alongside my Transaction Manager to handle the logistics. I also work closely with my Broker and they are involved in each transaction, so you will also have Broker support.
At the end of the day, only you can decide if a Buyer's Agent is right for you. The most important thing for all Buyers is to be able to find the home that best suits their needs and negotiate the best deal possible for them. Some experienced Buyer's may feel totally comfortable embarking on this journey solo. However, a Buyer's Agent is going to be able to provide you with their expertise, market knowledge, negotiation skills and problem solving abilities that are all aimed at making your home buying process smoother and more successful.
If you'd like to talk more about how a Buyer's Agent can support you, please reach out at jackieo@luvarealestate.com or 808-895-0679!
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