Perhaps this is a question more often asked at times when it’s a Buyers market, when the pickin’s are thought to be easy. Still, even then there are numerous reasons to have a professional working specifically for you and your interests. And in today’s market? Maybe more reasons than ever to help you navigate the waters.
As a Buyer especially, there is not only no reason to not use a Buyer’s Agent, but there are many worthy GOOD reasons TO USE a Buyer’s Agent. Not the least of which is that the bulk of the time, the service is free to the Buyer.
Buyer’s Agents will not only write offers on your behalf, but should offer market statistics to offer comfort and peace of mind that you are not paying too much. They can give the Buyer an insight to the way the Seller views his property in the marketplace and what kind of offer the Seller will likely accept. They will help determine future saleability of the property. They are authorized by you to negotiate on your behalf and to keep your information confidential. And most people don’t realize it, but they can even work for you in the purchase of a For Sale By Owner property.
In fact, even with a FSBO, most Sellers will agree to pay the Buyer’s Agent commission, so there is still no cost to the Buyer for these services. And when purchasing a FSBO property, these services may be even more important. For example, do you know what minimum property disclosures are required by Idaho Law for Sellers disclose to Buyers? How will you collect the disclosures if not offered? How will you present and negotiate an offer? What about earnest money the Seller requests – how will it be handled in a dispute?
Buyer’s Agents can also refer you to vendors you will need to utilize in order to close the transaction. This is especially important in the procurement of financing. With all the almost weekly changes in financing, it can be overwhelming to find a lender that works best for you, and also has a reputation for closing the deal. Your agent will have two or three people that they work with regularly and can refer you to with confidence.
A quick web search turns up many results for Buyer’s Agency. Here is one article from about.com with some tips for Buyers, and Why hire an agent. http://homebuying.about.com/od/buyingahome/qt/071907-buyagt.htm
Happy Hunting!
