Adam Roche's Blog
Milford, MA 01757
If you're a first-time homebuyer and you've already started exploring available properties, you might think to yourself, "Why do I even need a buyer agent?" After all, you've been looking at homes for sale and the realtors who showed you the properties were very nice and helpful. But here's the deal: Those realtors are seller agents. They represent the home seller. They are legally, morally and ethically bound to get the best possible deal for the seller -- not for you as the buyer! This is just one of the reasons why first-time homebuyers can really benefit from working with a buyer's agent. Here are some more advantages.
Buyer Agents Work for You -- The Buyer
Once you're prequalified and your buyer agent understands the features you want in your first home, the agent will locate for-sale properties that fit your criteria. Not only that, but the buyer agent will coordinate and schedule showings of those properties for you. You don't have to do all of the legwork. And remember: As your representative, the buyer agent is out to find the best possible deal on a first-time home purchase for you.
Buyer Agents Are Great Negotiators
Every home sale and purchase is bound to hit a snag or two along the way. It's a lengthy process to buy or sell a home, and it's also a highly emotional transaction for buyers and sellers. It is, after all, the largest emotional and financial transaction that most people will make in their lifetime. Therefore, the negotiating skills of a buyer agent will be of great benefit to you as a homebuyer. If something starts to go wrong, they know how to negotiate a fix and they know professionals within their network who can help iron out problems -- from titling companies to real estate attorneys and even contractors to fix unexpected problems with the property.
Buyer Agents Are Property Experts
If you look at a home, do you know all the potential problem spots to examine to ensure that it won't have hidden costs? For example, can you tell if the plumbing is too old and will need major repairs within five years? Can you assess the age and functionality of the furnace, hot water heater and other features? Probably not -- but the buyer agent can because he or she has that experience.
Best of all, buyer agents don't charge any upfront or ongoing fees for their services. They split the commission with the seller agent who works for the home seller. For all these reasons and more, it makes great sense to put the expertise of a buyer agent to work for you!
The homebuying journey can be long and arduous, particularly for an individual who makes mistakes along the way. Fortunately, an informed homebuyer can identify potential problems early in the homebuying journey and take the necessary steps to resolve such issues without delay.
Now, let's take a look at three common mistakes that homebuyers make, along with the best ways to eliminate these problems before they escalate.
1. A homebuyer spends too much time debating whether to submit a home offer.
The housing market moves quickly, and a homebuyer who hesitates to submit a competitive offer on a residence risks losing this house to a rival homebuyer.
Ultimately, it pays to learn about the real estate market. That way, if you fall in love with a house, you'll be better equipped than other homebuyers to submit a competitive offer before it's too late.
Check out the prices of houses in cities and towns where you'd like to live. This may help you narrow your search for the perfect home and provide housing market data that highlights how much it may cost to acquire your dream residence.
Also, take a look at the prices of recently sold houses in different areas. This will enable you to determine whether you're working in a seller's market or a buyer's one.
2. A homebuyer foregoes a home inspection.
Even though a homebuyer may want to rush through the purchase process, there is no reason to forego a home inspection.
When it comes to buying a residence, it is always better to err on the side of caution, and a home inspection offers a valuable opportunity to learn about a house's condition and uncover any "hidden" problems with a residence.
For example, a home inspection may reveal roof damage that could lead to thousands of dollars in roof repairs in the near future. On the other hand, a home inspection may show there are no major issues with a residence, thereby verifying that a house is a sound investment.
Don't forget to consider a variety of home inspectors before you schedule a property inspection. This will ensure that you can find a home inspector who possesses the necessary skills and expertise to perform a deep evaluation of a home before you finalize your purchase.
3. A homebuyer tries to purchase a house without support from a real estate agent.
For those who want to streamline the homebuying process, expert help may be necessary. Luckily, you can hire a real estate agent who can help you seamlessly navigate the homebuying journey.
Real estate agents are easy to find in cities and towns nationwide. Meanwhile, these housing market professionals are available to help you narrow your home search, submit offers on residences and much more.
If you need additional help during the homebuying journey, it usually is a good idea to hire a real estate agent. By doing so, you can receive the expert guidance and support that you need to go from homebuyer to homeowner.
The home selling journey offers no guarantees, and as such, there is no assurance that you'll be able to enjoy a fast, profitable home selling experience. Lucky for you, we're here to offer insights into the home seller's perspective and ensure you can reap the benefits of a successful home selling journey.
Now, let's take a look at three tips to help you become a smart home seller.
1. Analyze Your House's Strengths and Weaknesses
Although you've allocated significant time and resources to keep your house looking great over the years, your home soon may be just one of many houses that is available to property buyers. But if you analyze your residence's strengths and weaknesses, you may be able to identify opportunities to improve your house and differentiate it from others in a competitive real estate market.
Oftentimes, it helps to conduct a house inspection before you list a residence. This inspection will enable you to receive a comprehensive analysis of your house from a property expert. Then, you can use an inspection report to prioritize home improvement projects and upgrade your house accordingly.
2. Set an Aggressive Initial Asking Price
What you initially paid for your house is unlikely to match your home's present value. However, if you analyze the real estate market, you may be better equipped than ever before to establish an aggressive initial asking price for your residence.
Take a look at the prices of available houses in your city or town that are comparable to your own residence. By doing so, you can narrow the price range for homes in your region.
Furthermore, a home appraisal may prove to be exceedingly valuable. An appraisal enables you to receive a property valuation based on your house's condition, age and the current state of the real estate sector. With this appraisal in hand, you can set an asking price for your house that will hit the mark with many potential buyers.
3. Collaborate with a Real Estate Agent
Even a home seller who is persistent and intelligent may require additional help to achieve the optimal results. Fortunately, real estate agents are available who can make it simple for a home seller to maximize his or her home sale earnings.
A real estate agent is a housing market expert who is unafraid to be honest with a home seller. This housing market professional will offer unbiased feedback about a residence's condition and provide recommendations to help a home seller improve his or her property. Plus, a real estate agent is happy to respond to a home seller's concerns and questions. This means a home seller can receive extensive housing market insights from his or her real estate agent and make informed decisions throughout the home selling journey.
When it comes to selling a home, there is no need to leave anything to chance. Take advantage of the aforementioned tips, and anyone can enter the real estate market as a smart home seller.
If a seller approves your offer to purchase his or her house, conducting a home inspection likely will be the next step of the property buying cycle. Although you may have the option to forgo a house inspection, you should not avoid this evaluation. Because if you forgo a home inspection, you may wind up purchasing a house that fails to meet your expectations.
Ultimately, there are many reasons to perform a house inspection before you finalize a home purchase, and these reasons include:
1. You can gain deep insights into a house's condition.
A home showing enables you to get an up-close look at a residence so you can determine if a residence is right for you. Meanwhile, an inspection goes one step beyond a showing, as it allows you to work with a property expert to analyze all aspects of a house.
During a home inspection, a property expert will walk through a house and analyze the residence's underlying condition. Then, this property expert will provide an inspection report that details his or her findings.
It is important to assess an inspection report closely. That way, you can learn about a home's condition and decide whether to continue with a house purchase.
2. You can review potential property repairs.
If you want to identify potential house repairs, a home inspection is key. If you conduct a home inspection, you can find out about possible property repairs, review the costs associated with them and plan accordingly.
Of course, if the costs of home repairs are significant, you may want to request a price reduction from a house seller. On the other hand, if various home repairs are simple to complete on your own, you may want to proceed with a home purchase.
3. You can make the best-possible homebuying decision.
Let's face it – buying a home may be one of the biggest decisions you will make in your lifetime. If you make a poor decision, you may suffer the consequences of your choice for an extended period of time.
Thanks to a home inspection, you can gain the insights you need to make a data-driven home purchase. Best of all, you can use a home inspection to perform a full analysis of a house and feel good about your decision to buy a residence.
As you get ready to pursue a house, you should hire a real estate agent as well. This housing market professional can help you prepare for a house inspection and complete other homebuying tasks.
For example, a real estate agent will attend a home inspection with you. And after a home inspection is finished, you and your real estate agent can review the inspection results together. Finally, your real estate agent can offer an honest, unbiased recommendation about how to proceed following a house inspection.
Ready to find and acquire your dream home? Conduct an inspection as part of the homebuying process, and you can learn about a house and determine whether a residence matches your expectations.