The Value of a Great Buyer’s Agent goes beyond the time and money you save, it also includes peace of mind that all the boxes are being checked by a professional that deals with the boxes on a daily basis.

“Time is more valuable than money. You can get more money, but you cannot get more time.”

– Jim Rohn

THE VALUE OF A GREAT BUYER’S AGENTS

Check out my Podcast on Behind the Door (Buyer’s Agents)

What to look for in a Buyer’s Agent!

• Not just years experience, but volume as a Buyer’s Agent | Some agents pride themselves as a listing agent (ratio should be no less than 40% Buyer’s Agent Experience)
• Relatable Buyer Stories | Can they give you stories about past buyer transactions that show you they know their stuff?
• Systems | A Great Buyer’s Agent has done this so many times they have a process (checklist) of what needs to be done and when!
• Able to answer your questions | Are they open to answering all your questions and even “what would you do” based on your own history with buyer’s agents?
• Can they express what their value is to you as your Buyer’s Agent? | If their value is all generic that could apply to any Buyer, then they don’t know you and your needs!

Post NAR Settlement

So we are still getting used to the ramifications of the lawsuits and the proposed NAR Settlement and awaiting for a definitive answer on everything we are being told, as to all the changes. There is one thing that seems to be more than probable as remaining and that is Buyer Broker Agreements–The Agreement between the Buyer’s Agent and the Buyer(s). This agreement is a very important document and if you are thinking of buying a home in the near future, I recommend asking to see this document well prior to wanting to see homes. While you are at it, ask to see all the documents you are going to be requested to sign either by the Brokerage you are thinking of using and by the State Real Estate Board you are in.

In the end a Great Buyer’s Agent is worth every dime and then some…like peace of mind that all the boxes are checked…

HAPPY HOME BUYING

It may seem paradoxical but it may be true!

“Buy land, they’re not making it anymore”

Mark Twain

Some little known positives about higher interest rates!

• Buyer’s have less competition to buy a home
• Seller’s more likely to accept a contingency
• Seller’s less likely to ask for an Appraisal Guarantee
• Seller’s more likely to pay Closing Costs
• Seller’s less likely to ask for Post Possession
• Buyer’s have more homes to choose from

When Interest rates are low, everyone is buying, including cash buyer’s…why? Because they aren’t earning money keeping it in the bank, and the real estate prices are historically going up in a low interest rate market, so it’s a win-win for cash buyers to buy. This trend reverses itself when real estate prices go down substantially, and then those investor’s with cash start buying again when the sentiment is that the real estate market has hit a bottom. Investor’s tend to stay out when the market is stable and interest is high.

What it was really like when interest rates were low…

• Seller’s receiving multiple offers on the first day!
• Seller’s only taking offers for 24-48 hours and only if you saw the property!
• Seller’s asking to stay in the property after closing for free for up to 6 months!
• Buyer’s offering sometimes 25% or more over list price and then guaranteeing the Appraisal Gap before even knowing what it would appraise for…
• Seller’s laughing at a contingency offer and then tossing it in the trash
• Seller’s dictating everything from title company, buyer paying all closing costs (including those normally paid by seller’s), and when closing would be, denying homewarranties…
• SELLER’S ARE IN CHARGE WHEN INTEREST RATES ARE LOW!

Here are some ideas on getting the Seller to help reduce your interest rate!!