WHAT IS AN EXCLUSIVE BUYER AGENT AND WHAT DOES SHE DO?
If you are a novice when it comes to buying a home in Portland, Oregon, the last thing you want to do is to negotiate without a professional to represent you. Since sellers enlist the help of professionals to represent their interests, you ought to have someone to represent you, too.
In this article, you will discover what an exclusive buyer agent is and why it is important to have her when buying a home in Portland.
An exclusive buyer agent is a real estate professional who represents only buyers in a real estate transaction. She assists buyers in finding a property and represents him or her in negotiations.
Keep reading to learn more about the roles of an exclusive buyer agent in a real estate transaction and why it is important to have one when buying a home in Portland.
What are the benefits of hiring an exclusive buyer agent in Portland, Oregon?
· She knows what to look for in a house
An exclusive buyer agent is experienced enough to know what to look for when viewing houses in Portland. A buyer’s agent looks at dozens of houses each week so you can trust that she knows if a house is worth buying or not.
Even if it’s your tenth time buying a house, you may still not be perfectly aware of the red flags to look for when purchasing a home. When you work with an experienced buyer agent, you have someone who can easily identify potential problems and suggest if you need a structural professional to further evaluate the property. Among the things that an exclusive buyer agent usually identifies are pest and mold issues, roofing issues, leaks, and major components that need replacements.
· She has her pulse on the Portland, Oregon market
Since every real estate market is different, it helps to hire someone who understands the Portland, Oregon market. Working with someone who understands the intricacies of the local market will help you make wise decisions throughout the home buying process. It can also go a long way when it’s time to make an offer on a house.
It is also extremely important to have an exclusive buyer agent in Portland Oregon because that gives you the assurance that your agent is experienced in buying homes in the area. It doesn’t make sense to hire someone who does not have an understanding of the local real estate market, especially financially.
· She can help you secure the best financing
If this is your first time buying a home in Portland, chances are you do not understand yet the various financing options available to you. With the help of an exclusive buyer agent, it will be much easier for you to assess and secure your real estate financing.
Exclusive buyer agents are skilled enough to help you navigate through your options and choose the type of mortgage that is best for you. She can also refer to you a local mortgage company that understands how real estate transactions work, as well as financing rules and regulations in Portland.
· She will take coordinate viewings of potential properties
If you don’t have much time to spend looking at homes, your exclusive buyer agent can coordinate showings on your behalf. Coordinating showings can be tricky and frustrating when homes are selling fast and inventory is tight. When you work with an agent, you have someone to figure out how to get you to showings that you want most.
A great buyer’s agent has a flexible schedule and will work around your busy schedule as best she can. She will make a dozen phone calls every day, figure out the best route for the showings, and make sure that you have all the pertinent information about the properties you are interested in.
· She knows how to navigate a real estate contract
Knowing the ins and outs of a real estate contract is crucial when buying a home. The problem is, even if it’s your tenth time buying a house, you may still not be familiar enough with the several parts of a real estate contract. This is where your exclusive buyer agent comes in.
An exclusive buyer agent helps homebuyers understand the different aspects of a real estate contract, including the purchase offer and the deadlines that need to be set. She also knows how to write a contract that presents you in the best possible way as a buyer.
· She ensures that your transaction remains on schedule
As a homebuyer, you may find any delay in your real estate transaction a bit frustrating. While such delays normally happen, they are avoidable with the help of a buyer agent.
Your exclusive buyer agent will make sure that your real estate transaction stays on schedule and that all the dates in the contract, including the written mortgage commitment, are being met. She detects problems before they even occur by paying close attention to the transaction and remains on the lookout for possible issues. An exceptional buyer agent should be as interested in making sure that things go smoothly as you are.
· She has the connections you need to get through the home buying process
There are various professionals that you may need to complete your real estate transaction. At some point in the process, you will potentially need a home inspector, a real estate attorney, or a mortgage originator.
If you don’t have connections, it may be hard for you to get through the process of buying a home in Portland. But with an agent working with you, you can expect to have a pocketbook full of recommended professionals. Instead of having to spend your time tracking down the people you need, you can leave the task to your agent, who has a list of trusted professionals who can work and connect with you when you need them.
· She will negotiate on your behalf
If you haven’t done it before, it is normal to dread the prospect of negotiating. One of the best things about having an exclusive buyer agent is that you have a negotiator who knows how to use her knowledge of the market to negotiate effectively and get the best results on your behalf.
An exclusive buyer agent knows when a home is overpriced. If you don’t hire an agent, you will have a hard time making an offer on the property.
One of the most critical aspects of negotiating also comes into play after the home inspection. If there are significant inspection problems, your buyer agent will be the one to negotiate the credit, price reduction, or repair.
· She won’t let your emotions get the better of you
When you like a house so much, you may tend to overstretch your finances just to get it. You may also find the attitude of the home seller irritating and jump into a decision without a cool head. This is another reason why you need an exclusive buyer agent.
Buyer agents are considered therapists because they act like emotional filters. Since your agent is not emotionally attached to the property you are looking to buy, she can keep you from making any emotional or rash decisions during the process. If you are angry with the seller, you can vent to her. She then takes the emotion out of every decision you make.
You have every reason to hire an exclusive buyer agent when buying a home. If you are buying a home in Portland, Oregon, and need an agent who can do all these things for you, call me, Anne Stewart, at 503-804-1466 today. I will help you navigate the real estate transaction process with ease until you finally get your dream home.