You Need a Buyer Agent - Here's Why
Most of the time, when a real estate transaction in Honolulu, takes place, there is a buyer and a seller who are represented by a real estate agent. Unfortunately, the real estate agent is typically the one who has a vested interest in selling the home and is working with the buyer while working for the company that represents the seller. What this means is that there are often cases in which the agent cannot fully have the buyer's best interests in mind when that same agent is to receive a commission or kickback from the completed sale of the home. To be sure that the real estate agent offers the right price for the property, you can check the prices for real estate in Honolulu on this website hawaiitrustedrealty.com/houses-for-sale-honolulu. So you can be more confident that you are not overpaying more.
As a buyer, it is important for you to be represented by a buyer agent who will have your best interests in mind. A buyer agent will negotiate on your behalf without thinking about the best interests of the seller, and the primary focus will be on the ways that a finalized sale will benefit you as a buyer. Here's what a buyer agent can do for you:
- Find properties that truly meet your needs
- Work with you and provide his or her knowledge on actual pricing trends in comparison with the properties that you are interested in
- Help you to analyse various properties in comparison with the neighbourhood features, schools and other details that may be of overall interest to your individual needs
- Negotiate the sale price on your behalf with your best interest in mind
- Help you find a closing attorney
- Help you find a suitable mortgage
- Provide guidance and assistance in securing the proper home inspections, appraisals, warranties and other details pertaining to the home purchase
Compensation for a Buyer's Agent
The buyer's agent will be compensated, but you, the buyer, will not be the one who provides compensation. Typically, when a home is placed for sale, it is listed for a fee with a brokerage firm. The firm enters the home in the MLS database, and the firm agrees to pay a percentage of the sales price to any agent who produces a buyer for the home. Your agent will help you find a home and then, if you buy the home, a percentage of the sale price will be paid to your agent. This money is part of the commission that the seller pays to the broker for listing the home, and does not cost you anything out of pocket as a buyer.
Essentially, you are the winner when you choose a buyer agent who will represent you objectively. Your agent will help you find a home that's right for you, negotiate the price and terms of the sale, and finalize the deal, all for absolutely no cost out of pocket to you. The seller will pay out the commission and this will cover the fees to your agent, which means you receive proper representation for free!