Using a Buyer's Agent
Top 10 reasons that investors don't use buyer's agents.
10. The books and tapes I ordered from late-night TV told me to do my own negotiating
9. If I contact the listing agent, he'll encourage the seller to take a lower price, since he'll get both ends of the
commission
8. I don't want to pay a buyer's broker
7. Those salespeople just don't understand creative financing.
6. If my agent sees a really good deal, she'll just take it for herself.
5. My agent wants me to pay the highest price, so her commission will be more.
4. My father never used an agent in his life, and he's a millionaire.
3. What's a buyer's agent?
2. I tried to use an agent once back in '79, and he never called me back.
1. What do you call 6 real estate salespeople buried up to their necks in sand? NOT ENOUGH SAND!
Why every investor should have a buyer's agent
1.
IT SAVES TIME. The agent can locate properties quickly, and based upon very specific criteria.
2.
IT SAVES AGGRAVATION. Most experienced agents will recognize a good deal based on price, condition,
and the seller's situation. On the other hand, the agent can also recognize which properties are not worth looking
at, and can steer you away from wasting your time viewing such properties.
3.
IT KEEPS INVESTORS FROM MISSING OUT. Often, a really excellent investment property is sold before
the sign goes up in the yard or the first ad goes into the paper. The agent can check daily for new listings, and
notify you immediately if the perfect property becomes available. Also, listing agents call buyer's agents with
new listings that match the buyer's criteria.
4.
IT KEEPS NEGOTIATIONS MORE BUSINESSLIKE. Remember, the listing agent works for the seller.
Therefore, any information that you give the listing agent WILL BE DIVULGED TO THE SELLER. A buyer's
agent will not reveal any information that the buyer gives without permission of the buyer. Most experienced
buyer's agents are also experienced negotiators, and, as a third party, may be able to negotiate your price
without offending the seller.
5.
IT SAVES PAPERWORK PROBLEMS. New investors often do not fully understand how to fill out a
purchase contract, nor do they know how to add addenda to protect themselves. An experienced buyer's agent
will make sure that you have all of the paperwork in order from offer to closing.
6.
IT SAVES MONEY. A buyer's agent can save you money in several ways. First, she can locate sold properties
that are REAL comparables. Second, she will check the closing statements to insure that you are not being
charged for items that are the responsibility of the seller. Third, she can stay on top of the appropriate
appraisers, inspectors, and lenders to get their jobs done on time, so that the contract does not expire before
closing. Finally, YOU USUALLY DO NOT HAVE TO PAY A BUYER'S AGENT! The Buyer's agent will
usually be paid by the listing agent's brokerage.
7.
ANONYMITY. There are various reasons that an investor might wish to remain anonymous in buying a
property. With a buyer's agent, this is possible.
81910667 07/29/17 12:43 AM