If Real Estate on the Oregon Coast is in your future, consider calling upon a Real Estate professional to act on your behalf as a "buyer's agent." If you are not sure exactly how this works, continue reading!Something many people do not realize is that most Real Estate brokers are willing to work on a potential buyer’s behalf at no charge to the buyer. "Who pays a buyer’s agent?" Until a buyer makes an offer (that the buyers agent has written) on a property that is accepted and results in a closing, a buyer’s agent does not get paid. At closing (when a purchase is complete and the keys are being placed in the buyer’s hand), the buyer’s agent is paid out of the designated commission dollars, decided upon when the subject property was listed with a Realtor to put the home up for sale. Every property has a different commission rate negotiated at the time of listing, but it is in no way determined by the buyer’s agent.
Working with a Buyer's Agent -- Benefits to the Buyer:
1 - Representation by a Real Estate professional that is working solely on the behalf of the potential buyer's and in their best interest as a buyer.
2 – Have thorough property searches completed based on a criteria specified by the potential buyer.
3 – Receive results of the property searches via email in the form of interactive property links directly from the MLS completed by the agent for the buyer to review at their convenience. (Also a great way to learn the full history of a property, which these days can be surprisingly complicated and in-depth.)
4 – Have the agent preview homes upon request to save a buyer the time and money it would take to drive to the destination of each home, some of which may not be even be worth looking at. This works especially well once an agent knows the preferences of a buyer.
5 – Benefit from the buyer’s agent calling each and every listing agent of the homes of interest to set up multiple appointments at times that are convenient for the buyer. (No more calling the number on the sign!)
6 - Accompany the buyer to each and every home on the list, offering additional information upon request. Agents can open the door of any home actively for sale with the permission of the homeowner and listing Real Estate agent.
7 - Should the buyer decide to make an offer, the buyer’s agent will write up all offers with the necessary legal documents, provide consultation upon request regarding price and strategy, and ultimately handle all transactional details up to closing and beyond.
A Realtor may assist a buyer for six months, or more with property searches, write up multiple offers that do not result in a purchase, and still will not be paid. When a buyer successfully purchases a property, the buyer’s agent will be paid out of the sale proceeds by the seller. If a buyer never finds a home, or their offers are never accepted, the agent is not paid. The bonus to the buyer is their only responsibility is to accept the help of the agent they have chosen to assist them with their property search and acquisition attempts.
With MLS search options readily available on many Real Estate websites, a fair amount of information can be found through searches buyers do themselves. The pressing question is, "Why do it yourself when a professional can do it for you for free?" Often I hear people say they worry they will be obligated, or will be bothered and pressured by an agent if they ask for help. I understand how this feels, as before I was a Real Estate broker myself, I often felt like it would be a pain to have to answer someone’s questions when I really wasn’t even sure what I really wanted. Having gone through this process myself many times as a consumer, I came to realize whether, or not I knew exactly what I wanted, working with an agent helped me reach my goals faster and much more efficiently. I have to admit I still did some searching on my own, but it was the Realtor that made it all happen.
Don’t be afraid to ask questions! Don’t be afraid to ask for what you need! Don’t be afraid to get help from a realtor early in your search. And, most of all don’t be afraid to change realtors if you aren’t happy with the service you are receiving. If you connect with the right Realtor you will know it right away! You should not feel pressured or annoyed, and instead should experience feelings of satisfaction and amazement at the amount of information provided to you in a very short period of time.
It truly is in the best interest of each and every buyer to find a good agent to assist with a property search and offer placement process. If the Real Estate broker you choose knows the market you are interested in well, she, or he can complete home searches easily and quickly, respond to your need in a timely manner and ultimately handle transactional details, should you decide to make an offer on a home, or property.
Working with a buyer's agent can be a very rewarding experience that saves the buyer both time and money. Something to keep in mind: All Real Estate brokers are not the same. Don’t assume every agent will give you the same service and possesses the same level of knowledge, commitment and experience. Do your homework and you’ll surely have an experience worth telling others about. A great realtor strives for this small, but meaningful act of gratitude!
Visit www.iWantABeachHome.com to view homes and land in Tillamook County on the Northern Oregon Coastline. Use the valuable MLS Search feature, but don’t hesitate to ask for help at any stage of your home search.
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Sincerely,
Wendy Stevens
