Why Work With a Full-Service Buyer Agent?
To answer this question, we not only need to look at the services a full-service agent provides, but at the overall value that they bring to each and every transaction. In my opinion, the term full-service real estate is used very loosely these days, so I will define what it means to me.
Educate, Negotiate, and Protect
Above all, a full-service buyer agent should educate you about the market, negotiate strongly on your behalf, and most of all, protect you from potential pitfalls which invariably arise in real estate and which can pose a substantial risk to your investment.
Why shouldn't I use a discount agent? Wouldn't I save a lot of money?
If you're planning to use a discount service provider I would encourage you to thoroughly research what level of protection and what level of service they are offering. Is it possible that you could buy a home with a discount agent and come out ahead financially? Sure it is, but in my opinion your risk factors increase tremendously. If you don't have a good buyer agent and strong negotiator on your side you might leave a lot more money on the table than what you might save by using a discount broker in the first place. It comes down to what risk level you're comfortable with. I strongly believe that using a full-service agent will substantially increase your chances of finding a better home for a better price.
Your Bottom Line
Using a great full-service agent can make a substantial difference when it comes to your bottom line. Without a skilled buyer advocate on your side you can easily overpay for a property, overlook serious warning signs that could indicate material defects and lead to expensive repairs, or miss out on opportunities to negotiate a better price.
What Defines a Full-Service Buyer Agent?
It really depends on who you're talking to. In my opinion, a full-service buyer agent should (at a minimum)...
• be a true advocate who acts in your best interest (and only your interest) at all times. • listen carefully to what your exact goals are and act accordingly. • be proficient with the latest technology which will facilitate better communication and aid the buying process. • be aware of market trends and changes to local real estate law, and explain how they might affect you. • have full-time support staff (broker, office manager, transaction coordinator, etc.) behind them. • thoroughly research and understand your exact focus area. • be a strong communicator and keep you informed at all times. • dedicate enough time to each client to ensure that their goals are met. • offer constructive advice during all stages of the buying process. • preview properties before showing them to you whenever possible. • be able to identify potential problems with a property and communicate them to you clearly. • point out external factors that may not be obvious but influence a property's value, either now or in the future. • advise you to walk away from a property if the risk to value factor is no longer acceptable. • understand common issues with the type and age of home you're looking for. |
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• conduct a thorough comparative market analysis on any home that you consider writing an offer on.
• be a strong negotiator.
• have experience with a variety of transaction types.
• have experience with multiple offers and other competitive situations.
• have strong industry contacts (inspectors, contractors, etc.).
• attend and supervise all inspections, evaluations, work estimates, etc. and communicate the results to you if you're unable to attend.
• manage and supervise the closing process (all the way from mutual acceptance to closing).
• be a resource for you long after your transaction closes.
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Alex Eckardt Coldwell Banker Danforth 206.778.7844 |
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