Why Work With a Full-Service Buyer Agent?
To answer this question, we not only need to look at the services a full-service agent provides, but at the overall value that they bring to each and every transaction. In my opinion, the term full-service real estate is used very loosely these days, so I will define what it means to me.
Educate, Negotiate, and Protect
Above all, a full-service buyer agent should educate you about the market, negotiate strongly on your behalf, and most of all, protect you from potential pitfalls which invariably arise in real estate and which can pose a substantial risk to your investment.
Full-Service Agent vs. Discount Agent
To clarify, real estate commissions for both the listing agent and the buyer agent are paid by the seller so, as a buyer, it doesn't cost you anything to have a full-service representative working for you. If you are planning to use a discount service provider I would encourage you to thoroughly research what level of protection and what level of service they are offering. Is it possible that you could buy a home with a discount agent and come out money ahead? Sure it is, but in my opinion your risk factors increase significantly. I strongly believe that working with a full-service agent will substantially increase your chances of finding a better home for a better price. Without a skilled buyer advocate on your side you can easily overpay for a property, overlook serious warning signs that could indicate material defects and lead to expensive repairs, or miss out on opportunities to negotiate a better price.
What Defines a Full-Service Buyer Agent?
It really depends on who you're talking to. In my opinion, a full-service buyer agent should (at a minimum)...
• be a true advocate who acts in your best interest (and only your interest) at all times. • listen carefully to what your exact goals are and act accordingly. • be proficient in the latest technology which will facilitate better communication and aid the buying process. • be aware of market trends and changes to local real estate law, and explain how they might affect you. • have full-time support staff (broker, office manager, transaction coordinator, etc.) behind them. • thoroughly research and understand your exact focus area. • be a strong communicator and keep you informed at all times. • dedicate enough time to each client to ensure that their goals are met. • offer constructive advice during all stages of the buying process. • be able to identify potential problems with a property and communicate them to you clearly. • point out external factors that may not be obvious but influence a property's value, either now or in the future. • advise you to walk away from a property if the risk to value factor is not acceptable. • understand common issues with the type and age of home you're looking for. |
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• be a strong negotiator.
• have experience with a variety of transaction types.
• have experience with multiple offers and other competitive situations.
• have strong industry contacts (inspectors, contractors, etc.).
• attend and supervise all inspections, evaluations, work estimates, etc. and communicate the results to you if you're unable to attend.
• manage and supervise the closing process (all the way from mutual acceptance to closing).
• be a resource for you long after your transaction closes.
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Alex Eckardt Coldwell Banker Danforth 206.778.7844 |
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