Buying a home is stressful, with buyers’ emotions often running the gamut from excitement to fear. A buyer’s agent is there to help buyers navigate the process, prevent confusion and help get the best deal on the desired home.
Finding the right person to help you find a home in TX isn’t as simple as a Google search. Learn what makes a good buyer’s agent versus just another agent taking whatever deal happens to come their way.
What Is a Buyer’s Agent in Texas?
Buyer’s Hand Holding
A good buyer’s agent understands that approaching milestones in the purchase process can be very stressful. Whether it’s bidding in a multiple offer situation or dealing with final negotiation issues, a good agent sets the tone for buyers.
Find an agent who conducts a buyer’s meeting. This meeting reviews the process and typical contract issues for any purchase. Good buyer’s agents review timelines so the buyer knows when and why he can walk from the deal without penalty. I like to prepare a booklet with detailed information for my clients on the first meeting. That booklet gives the steps that a buyer will have to complete the purchase and close on a home.
During the process of finding a home, a good buyer’s agent will determine the absolute needs and the wish list of his client. He will present homes within these needs and wants whenever possible and help buyers develop realistic expectations based on the market and buyer’s budget.
In the escrow process, the buyer’s agent should have a full list of resources from inspectors and service companies to ensure the buyer has everything needed to make a sound financial decision on the home.
Using Inspection Reports
An Inspection report will be about 30+ pages on most homes and will point out even obvious things as the inspector is wanting to make sure that the buyer sees and understands everything. Many things are minor and the inspector will review his findings with the buyers explaining what is a concern and what is not.
A good buyer’s agent not only understands how to explain the inspection reports to the buyer but knows exactly how to use them in the negotiation process. While some items bother some buyers they may not bother others. A new code requirement that is grandfathered in older houses is arc fault receptacles. That is not a major concern for most buyers but some might want it fixed. So while a buyer may be concerned that a termite report shows there are indeed some issues, a good buyer’s agent will know what the acceptable threshold is for the age and location of the home or the severity of the report. A roof that is older but still in good shape normally will not be something that is replaced but I have seen buyers want a good roof replaced because of its age. Normally a seller will think that a buyer is being a bit demanding on an issue like that but on a roof that is damaged and needs replacing is a totally different situation. It’s about money and what is practical or critical to ask for in repairs. That is where the art of negotiating comes into play.
For example, in some areas, it would be almost odd to not have a termite report for an older home not show some any termite presence at some point in time. If it’s a normal report within the guidelines of the region, the agent should turn it around and find out how much it’s worth. Asking for credits from the various reports is an art form. Asking for too much gets you ignored. Asking for too little leaves money on the table. And everyone in the transaction wants to feel good about the results. A good buyer’s agent knows the sweet spot. And there is many factors that go into the formula. The whole goal at the end is to have everyone happy, the buyers because they felt like they got the home they wanted at a good deal and the sellers to be happy with leaving the house at a price they liked.
Savvy Market Understanding
A buyer needs to know that his real estate agent understands the market conditions at this very moment in time. A good real estate agent will not only realize the difference between a buyer’s market and a seller’s market but will help a buyer capitalize in either situation.
If the market is slow, your agent might be right to give you time to think things over. It might also let the seller ponder why offers aren’t coming in and provide a window of opportunity to offer less than asking. But if the market is hot, a good real estate agent will push you to make an offer if you are serious about a house. Otherwise, you might lose the opportunity. In the San Antonio area it is not uncommon for multiple offers on a lower priced house or an area with low inventory. So a buyer needs to be presented in the best light possible and with the correct timing to be successful.
While the real estate agent shouldn’t push a buyer into doing anything, it is important that he tells you exactly what is going on with the market and the risks associated with not acting fast. A good agent will also structure an offer making you the most attractive buyer even against another person who might come in with a higher bid. That is where some of the items an agent might use will help make your offer more attractive.
Finding The Right Buyer’s Agent
Interview several agents with these key items in mind. Do your research about agents: one who has a lot of sales may not have the time to devote to you as an individual or they be delegating work to another agent. Are you comfortable working with a team or do you want to know that you have your own personal person to contact when you need them. Some agents don’t work on the weekends due to other obligations. Some schedule their time more like a job so if an offer comes in after 5 pm they do not present it to a seller to the next business day. So while as a buyer you have no control over that those agents may have the same hours with their buyers. While agents do have home lives and need their down time, most will work outside of standard hours. You need an agent that can work with you and your special needs. If an agent seems put off by some of your questions or concerns or doesn’t seem to have the answers immediately available, this might not be a great buyer’s agent for you. Everyone has different personalities and some mesh better than others.
An agent has to be the right fit for you and have your best interests at heart.
IF YOU ARE CURRENTLY LOOKING FOR OR PLAN TO BE LOOKING FOR A BUYERS AGENT IN THE FUTURE, PLEASE CONTACT US BY PHONE AT (210) 216-7722 OR FILL OUT OUR FORM AND WE’LL CONTACT YOU AS SOON AS POSSIBLE!
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