Plan on buying a home yourself? What are you really saving and what are the potential pitfalls ?

* Representation costs you nothing!

• Locating Homes for Sale
• Determining the best offer price
• Market conditions
• Terms and Conditions
• Liability
• Contract Offer

As a homebuyer, it is in your best interest to contact a real estate agent first.

This is due, in part, because of the lack of accurate public information on homes for sale.

Representation costs you nothing!

Remember, as a homebuyer, you do not pay commission, the seller does! So having a real estate agent help you find and purchase the home of your dreams costs you nothing.

Locating homes for Sale

You will have to search the Internet, read newspapers or drive around in order to find houses. You end up with less available homes to choose from. (More choices mean more options and ultimately a better match on your home.) You can locate your home this way but typically you waste time and effort. Many signs stay up in front of homes long after they already have contracts on them. Newspaper ads may not be current. Internet listings may not always be updated frequently.

As your buyer's agent I will use all of the information that I have available to quickly locate the homes that match your requirements. As a Licensed Real Estate Agent I have access to MLS information and am able to locate more available properties than appear to the general public. Because of this I can react much more quickly than you can on your own and have complete access to all properties (and their selling agents)actually available for sale.

For Sale By Owner

When you buy a home that is for sale by the owner, (FSBO) you may get the home priced down by a few percent. This difference is normally the seller’s commission to real estate agents. This can look like a savings for you.

However, while you feel that you are saving money, you actually may end up paying more than you would if an agent represented you. This is in part because neither the Seller, nor you, the buyer have accurate methods for researching price based upon actual sold properties options and conditions. Research is the key and without accurate information you are not making an informed purchase decision.

Determining the Best Offer Price

As a member of the general public you have to keep track of newspaper sold articles or go to the county records to research properties that have sold. This is a very time intensive process and ultimately is not very effective. So, you do not have an effective way to determine if the price that you will offer is a competitve offer price.

As your buyer’s agent, I have data access to sold and current similar properties for sale. I also stay up-to-date with current market conditions and trends. I can quickly and easily determine a fair price for any home you are looking at and judge this based upon the property's condition, features, age, and other factors. And best of all, I am working on your behalf. Most likely you would be dealing with a professional seller’s agent who is working for the seller's interests only.

Market conditions

You could sign up for various trade magazines and track market conditions and trends, but the general public does not have access to the same information that Professional Licensed Realtors have available. More importantly, because I am a Professional, it is my full time job to keep up-to-date and track the current market.

Liability

Law is best left to the lawyers, and as it turns out, liability can shift to either the buyer or seller if things go wrong with the contract. So unless you are insured for the specific types of liability issues that can arise, you may be on the hook for a costly settlement.

As a Real Estate Professional, I have to maintain liability insurance and errors and omission insurance. This protects you, the buyer, along with me your buyer’s agent.

Also, because you are unaware of all of the requirements of real estate sales contracts, the laws can get tricky. If you are dealing with a contract where there is a selling agent, they may get you to agree to various terms that may not be in your best interest. Remember, a selling agent represents the seller’s interest and is trying to get the best deal for them, not you.

Contract Offer – an unfair advantage

Without a buyer's agent you will have to write an offer by yourself, and present this offer without representation. Getting the terms and conditions you really want will be costly if mistakes are initially made. Typically, you will be putting an offer in front of a Seasoned Professional Real Estate agent, the seller’s agent. They can help you with filling out thepaperwork, but they represent the seller, and are trying to get the best terms, conditions and price for the seller – not you. So, if you omit something, it is too bad, it is not a part of the offer.

As a Buyer's Agent, I put your requirements above all else, and am dedicated to making the offer as good as it can be for you, the buyer. And best of all, you will end up saving your time and money as well as getting the house you want.

BOTTOM LINE – You will get a better purchase price and terms by purchasing your home through my services.