Exclusive buyer's agents who dedicate themselves to representing buyers only, bring a special advantage to the home purchase process for first time home buyers. Buying a home today is a complicated process so the advocacy of an experienced, skilled real estate agent can provide additional help for the first time home buyer and result in a better outcome.
Wouldn't you like to know about the availability of first-time home buyer loans that have lower interest rates on their mortgage products? How about getting a home inspector who understands that he works for the buyer, not the real estate agent? If you are buying a new home you will need to learn about construction standards and lot selection. These are just some of the advantages of working with an exclusive buyer's agent.
Other benefits to using an exclusive buyer's agent include finding out the seller's motivation for selling. If the agent works for the seller, he cannot disclose that information to you yet it could have a major impact on the amount you offer for a house as well as the date for closing. If the agent works for the seller, he cannot tell you about any conversations he has had with the seller that would reveal information that could strengthen your bargaining position. And he cannot point out reasons not to buy the house or that a better home is available in the neighborhood.
Home buyers who have not made a purchase in over a decade may find that they, too, would benefit from working with an agent who is skilled at educating the novice buyer. Seek out your own special agent, one exclusively representing buyers, to help you. Use an interview process to ask the kind of questions that help you understand the difference between a “standard agent” and an “exclusive buyer's agent”.
Whether your dream home is new construction or an existing home, you will want to know what to look for as you begin your home search. You will need a checklist for buying a home to serve as your road map with criteria for buying a home.
Check out the list below and how I, as an exclusive buyers agent will help you conduct a home search, negotiate, and close on a new home. I can help you with the process of buying a home while representing your best interests throughout the purchase process.
Use the home buyer checklist below to prevent errors and to stay on track:
- Get fully pre-approved for your mortgage
Credit report, FICO score, type of mortgage, shop for best rates and programs. - Determine your wants and needs
Style of home, size, price, location. - Contact me to set up an initial meeting. Make a list of questions for that meeting & look for good personal chemistry.
- Search for homes in the MLS, always available on my website.
Sign up for daily email notification services. - Check out the neighborhoods, schools, crime rate, traffic, zoning, and work commutes.
Rely on your exclusive buyer's agents expertise and in-company resources. Check the web for helpful information. - Do the due diligence and research on your property of interest
Visit city hall to learn of any zoning changes, liens, easements, or other restrictions. - Prepare the offer and negotiate
- As your exclusive buyer's agent, I will prepare a property value study and ask the seller if there are any other offers and his motivation for selling, deadlines, etc.
- Conduct the home inspections and other inspections
Take advantage of the inspection contingencies in your offer and get thorough inspections to eliminate any surprises after you move in to your new home. - Final negotiations and sign the Purchase Agreement.
Use the inspection report to make repair requests, if necessary. - Walk-through inspection prior to Closing
Visit your new home before close of escrow to make sure everything is as you expect it to be. - Closing
Real estate transactions have grown increasingly complex with the need for greater due diligence and research before an offer is made and a full understanding of the roles and duties of agents involved in a transaction. The Southern California real estate market is picking up steam once again. The investors are back and homes that are perceived to be a good value are once again seeing multiple offers.
As your Exclusive Buyers agent, I can help you make certain that when you find the right home, you are able to move quickly and present a solid offer. After your offer is accepted, I'm with you every step of the way through the inspection process. I can assist you in understanding the disclosures, title reports & HOA docs. I'll always review your lenders charges and the preliminary closing statement to head off problems.
Finally, I will continue to be available to you long after I've handed you the keys to your new home!
Selected information courtesy of NAEBA.