The Role of Buyers Agents
Many home buyers, especially first time buyers, don't realize that when buying a home you don't have to pay ANYTHING to use a Cornerstone Real Estate Professional as their buyers agent.
Many buyers think they can save money by doing the home searching themselves. In reality, not using a buyers agent will likely lose you money and can make you vulnerable to possible pitfalls in the real estate transaction.
In a regular real estate transaction, sellers hire a Realtor (listing agent), to list and market their property. In this listing contract, a listing fee is set of which a portion, usually 3%, is set aside for the payment of a buyers agent. It is from these funds that a buyers agent will get paid. This duty of this listing agent is to represent and protect the seller. There job is to help the seller net the most money possible for the sell of their house. They have a fiduciary duty to represent the seller and look after their best interest.
With the invention of the internet, and great home search websites like Northern Utah Home Search.com it is true that buyers can get a good deal information about Utah Real Estate for sale, but even the internet can't replace the value of an effective buyers agent.
The role of the buyers agent as the chief locater of likely properties has changed, but the buyers agent is a valuable source for local area knowledge and real estate protection.
Real estate transactions can be emotional experiences and invove huge sums of money. Tensions can be high.
If a seller has an agent to represent them and negotiate on their behalf, a buyer should have an agent too.
The buyers agent looks out for the buyer. They help them arrange financing with the best Utah mortgage lenders, and help them get pre-approved for a good home loan. When a good property is found, buyers agents help the buyers to write good strong offers. Cornerstone Buyers agents have a feel for the market and can usually get a read of what the lowest acceptable offer will be. They also make sure that all the paperwork is legitimate and complete so their clients, the buyers, are protected.
Cornerstone buyers agents set reasonable deadlines for inspections, due diligence, and financing deadline. They then follow up and make sure due diligence is completed in time. If there are issues, they help renegotiate the deal to take care of issues, or to protect the buyers earnest money if the buyer does decide to back out. Cornerstone Real Estate Professionals are there for the buyers and will go through the home search and negotiation again and again until the deal finally closes.