7 Reasons Every Home Buyer Needs Representation In Portland Maine

I find more and more that buyers are calling the listing agent of a property and expect them to have their best interest in mind. The listing agent represents the seller in a transaction, and should always have the sellers best interest in mind. Anything you say to the listing agent can, and will most likely be used against you in a negotiation.

Your Greater Portland Maine Buyers Agent will know what to tell the sellers side without weakening your negotiating position. Here are some questions I want you to consider the next time you are on the fence about whether to use a Buyers Agent...

1) Do you know how to comprehend all of the local market data to best understand what is a good value, current trends, and absorbtion rates?

2) Are you familiar with a common residential real estate contract and how to interpret various clauses to protect yourself from making common buyer mistakes?

3) Do you know what not to say to the seller in order to avoid weakening your negotiating position?

4) Do you know the zoning regulations, building codes, and any other laws pertaining to real estate in the area you desire?

5) Are you familiar with the various loan types and special programs that you may qualify for?

6) Do you have the expertise to negotiate on your own behalf, especially if the seller has an agent negotiating for them?

7) Are you familiar with all of the documentation that is needed to complete a transaction in your desired area?

There is typically no fee for the expert services of a Greater Portland Maine Buyers Agent, the seller almost always pays the commission. There are times that a buyer can pay a commission if it is mutually agreed upon when signing an "exclusive right to represent contract". Many of the items can be negotiated in the contract; length of time, specific areas, specific homes, to name a few.

Don't be afraid of the agreement. the purpose is to protect the buyer and the agent. Make sure your Buyers Agent properly explains the agreement in its entirety, along with the process, so that you fully understand what you are agreeing to. Setting expectations upfront is critical.

Questions Any Home Seller Should Ask Their Agent

There are so many questions you can ask your agent but below are some very important, ones that I voluntarily discuss at all of my listing appointments.

 1) How many years they have been in the business.  This shouldn't be your determining factor, an agent that has been in the business 30 years doesn't make then a better agent. You want an agent that is tech savvy, invests in their education, understands the local laws and buying/selling process thoroughly, isn't so busy that you get handed off to someone else after they take the listing, and has the proper marketing skills.

 2) How they plan to market your property outside the MLS. Get a clear understanding before you sign and hold them to it. There is so much more to marketing a property then just putting it on the local MLS. I can't tell you how many times I see seasoned agents putting bad angle, dark photos of a listing on the internet. Any picture can be enhanced with online tools. Remember, buyers are making their decision to even view the home by what they see online. Make sure they have descriptions that talk about the homes functionality so a buyer can feel the flow before even seeing it.

 3) Ask them about their track record and success rate. How many homes have the help buy and sell in their career. Read past client testimonials to get a sense of how they work, look for a common thread. Avoid testimonials from their friends, you want real client testimonials.

 4) Find out what taxes and fees you are responsible for, including the commission.

 5) Be very clear on what you are signing. Make sure the agent goes through the contract slowly and explains each section so you have a clear understanding. Ask them about the process of terminating the contract, any repercussions? If so what are they?

 6) How often they work with buyers.  An agent that works with buyers understands how the buyers think. This can help you with getting the home ready to list. Have a pre-listing inspection done so you know what may come up.

7) Is this their full time job or are they doing it part-time. Part-time efforts get part time results.

8) How well they know the local market, trends, etc.  You want to know how long they feel it will take to sell your home and what you should expect from the market.  It is so very important for your agent to set this expectation up front.

 You want an agent that is going to represent your property in the best, possible light and will always have your best interest in mind.  They cannot properly represent you and a buyer for your property at the same time.  If a buyer signs the required agency disclosure form acknowledging that your agent represents you then that is fine.  Your agent will not be representing the buyer, just submitting their offer and any other requests that come in throughout the transaction.  Be very clear with your agent about dual agency and how it can affect you the seller.  After all, it is a relationship that you will be forming so be comfortable with your choice.  

Westchester County Real Estate Agent

By Christopher Pagli - www.WestchesterCountyRealEstateMarket.com
Accredited Buyer Representative
Real Estate Associate Broker
William Raveis Legends Realty Group

914.332.6300 office
914.406.9023 cell

chris@legendsrealtygroup.net
mrwestchester.blogspot.com
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