When purchasing a Coconut Creek, Fl home you have options! Some people select a direct sale, others prefer to work with an agent. Much like properties are unique and different, every situation is similarly different. Some people understand exactly what they desire need and can afford, others need some time to compare multiple houses. Are you looking to buy a home in Coconut Creek, Fl?
We will help you choose if using a professional buyers agent is ideal for you!
What do they do?
Real Estate agents can take on two roles. The listing agent, who helps the buyer to sell their home, and a buyers agent, who can help you find and purchase a home. Some agents do both and are known as dual agents, which is certainly a cool title. That said, more agents prefer to work on one side exclusively. Some love to help people sell, others love to help people buy. Buyers Agents are in the business of matching people to properties. They take the buyers budget and needs into consideration, showing them the houses that are the best match for their needs.
Both agents can show you a home, however, only a buyers representative will deal with your behalf to get you the best deal possible. A dual agent is there only to manage the transaction from contract to closing.
It is important to note they will not be there to advocate for either side in the transaction.
A purchaser’s representative (buyers Agent), will watch out for your interests and deal with your behalf. A buyer’s representative will advocate for you and help to negotiate when required.
What will it cost?
Using an agent will ultimately cost you in commission. Yes, the seller will pay a commission to their agent, which is then split with the buyer’s agent. However, these commissions are wrapped into the price of the home, so even if it says “the seller pays” you are ultimately the one bringing the actual cash to the closing table. In addition, your agent may require other fees to work with them, so make sure you have an agreement in writing. Some agents will have you sign a contract to exclusivity, make sure to read all of the fine print.
What are the benefits?
A buyer’s agent is dedicated, full-time to finding great properties in your area. They should be a complete expert on the local market and features of the city. They are likely to have many area connections in the industry, and possibly access to off-market deals. They can be a wealth of knowledge, teaching you more about the area then you could ever learn on your own. When you work with a buyer’s agent you will have someone in your corner, someone helping you and guiding through the entire process of buying a home. If you are a first-time homebuyer, using a great buyer’s agent will help you navigate the process.
One thing you should never gamble on is the home you choose to live in. A buyer’s agent can help you make a smart decision with your investment. Before making any large purchase, you should always seek the counsel of an accountant or lawyer.
What are the downfalls?
For certain purchases, skipping agents altogether, and choosing a direct sale can be beneficial to both the purchaser and seller. Both parties may will be able to keep more loan in their pockets when they choose to skip commissions.
One special note here, these days a seller knows what the house will sell for on the open market and may not see the need to lower the price just because you don’t have a buyers agent advocating for your side.
When you are using an exclusive buyers agent, you never know if they are being incentivized to show you a particular home for example if there is a bonus being offered by a seller. When you do the research study yourself, you will find out a lot about investing in your area, and you will have the ability to identify for yourself which property will be the best for you.