By Jennifer Lynn Walker
A lot of people think that they will save money if they buy a property without the help of a real estate broker. They think they’ll negotiate a better deal because they are saving the cost of fees.
In fact, it doesn’t cost you anything extra to have a real estate broker represent your interests when you buy a property. The seller already has a contract with their listing agent to sell the property. This contract details the remuneration amount if their real estate agent brings in a buyer. If the listing broker works with both parties, they will keep the whole amount. All broker fees are already in place before a sale begins.
Brokers Offer Training and Market Intelligence
Having a broker working in your interest delivers a whole raft of benefits.
First of all, you aren’t relying on the listing broker to represent you and the seller at the same time. You have someone trained in all of the laws around buying and selling who is ready to stick up for your interests.
Your broker has access to all the updates, statistics, and can compare your deal to details about properties in the area that have sold in the past. Your broker will ensure you receive all the disclosed information about the property and ask the right questions before you put in an offer.
The most important aspect of a broker’s job is to protect you; to dig down into the depth of their knowledge base and formulate a solid deal so there aren’t any repercussions in the future. They also know how to formulate and respond to offers, resolve problem inspection reports and irregularities, fact check all the information, and know which resources to pull on so you can make an informed decision.
Brokers Save Time
A good broker will do all the research for you, set up visits, and spot problems that may arise in the future. Once an offer is submitted, they take care of the timeline to assure that the deal won’t fall through. They understand your needs and won’t waste your time.
Having a broker when buying a property makes so much sense that when I buy, I make sure I’m represented; despite the fact I’ve been working in the business for 15 years.
It’s so easy to have your judgment clouded because real estate deals can be emotional. Having that second opinion to ensure you don’t miss an important element is worth thousands more than any broker could ever charge.