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Community Corner

Why You Need Representation When Buying a Home

There are numerous benefits of having the services of a buyer's agent.

When you hire a buyer’s agent to represent you they are legally bound to represent your interest at all times. The agent with the listing has a duty to represent the seller, not you.

You will face a long list of requirements; forms, financing, inspections, marketing, pricing and negotiating. A buyer’s agent can guide you through this maze with the skill that makes it a pleasant and rewarding experience.

There are two million licensed real estate agents in the United States. About half or one million are Realtors®. These Realtors® are held to a higher standard than a licensed agent with no affiliation to The National Association of Realtors®. They are bound by a code of ethics that they are bound to adhere.

The trouble with having so many agents in a market like we have today is that agents who previously worked part time could make a nice second income just by being there. Today that is not the case. It is reported that only half of the active Realtors® sold a home in the past year.

If you are looking for buyer representation in this market, you do not need a part
time agent. The process is just too complicated in many cases for these agents to help you when problems come along and they do come along.

Experienced agents will have a network of professionals who have proven themselves over time.  This will help you find the best inspectors, attorneys and the best mortgage people to handle the transaction. This network alone could save you much tome, frustration and money.

Knowledge of technology by your agent is paramount. The ability to simplify online home searches that will make you aware of new listings as soon as they hit the market will save you time and frustration. Even in this market a good home priced right will sell quickly so you must be ready to be first.

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As I reported just last week, a home in Metro Atlanta that is in top condition and priced at the market or slightly below the market will sell in a median time of 25 days (half quicker and half a little longer).

Experienced agents will be able to study the activity in the community and help you structure an offer that makes you look good to the seller without over-paying for a home.

Sometimes your agent may suggest you pay list price or close to it. This is not because they want you to pay a higher price. It is because they have studied the market and know that a home may be priced at or below market with little room to negotiate.

Your agent looks for housing trends which help you to buy the very best home for the future appreciation as well as being the best place for your family. A buyer’s agent can find out about any home you are interested in buying and can show you any home listed in the MLS or not. They can help
you buy bank owned, foreclosure, short sale, listed, unlisted and For Sale by Owner homes.

As stated on the Realtor.org website, a basic rule in real estate is that all properties are unique. No two properties -- even two identical models on the same street -- are precisely and exactly alike. Homes differ and so do contract terms, financing options, inspection requirements and closing costs. Also, no two transactions are alike. A buyer’s agent will reduce your work load, help you structure a good offer and save you time and money.

For more information about buying a home,  go to Realtor.org where you will find a wealth of information.

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Editor's note: Nancy Minor is a Realtor with . Her office is located in Peachtree Corners.

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