Expectation of Buyers from Estate Agents during Home Purchase

 Sep 19, 2017
Expectation of Buyers from Estate Agents during Home Purchase

Are you into the market to find your house? Well, if you are amongst those buyers who do not have adequate knowledge in home buying process, it is a wise decision to hire an agent who can help you in this regard. Starting from finding the right kind of house and matching your financing needs to negotiating the agreement and closing the deal successfully, estate agents in Borough like other places perform several duties and responsibilities for the buyers. Read on to know how the agent can help in choosing the perfect abode for your need.

  • He should have in-depth knowledge of the estate market so that he can help you meet your exact requirement. This includes – the price factor, area where you are purchasing a new house, various amenities and facilities, insurance, financing, taxes and proper negotiation.
  • At the initial meeting with your agent, he will enquire about your exact needs to help you find the perfect home and location. He will ask about the money you can afford to spend in home purchase, look for suitable financing option, provide hint about the present market condition and tell what you can expect during home purchase. Your agent will also formulate an effective strategy based on your requirement, how much you can afford to pay and about the present market condition.
  • When shopping around for your home, the agent will show you different residential properties available and discuss about all important details that include – relevant selling points, floor plans, nearby community to schools, shopping malls, offices and cultural activities.
  • The estate agent is responsible for obtaining disclosures which ensures necessary inspections and repairs on the home are completed. This also includes coordinating various activities of your attorney, lender, roof inspector and other professionals who are engaged in the purchase. If negotiating the price is essential, your agent will help you in this regard when it is time to close the deal successfully.
  • If you are having any concern, question or idea when looking for a suitable house, talk to your agent who can help you in solving your problems.
After you find your kind of home and the agreement is closed, you need to pay a certain amount of commission to the agent. The seller will have to pay the commission which is realty services “free” to buyer. The broker, for whom the agent works, typically asks the letting agent or the seller to pay at least 5 to 7 percent of the selling price of house. As most real estate transactions involve two brokers – who is, the broker who searches for buyer and the broker who finds the seller — the commission is divided into two parts between the two brokerage offices. After this, the agent who made the entire transaction gets some percent of the share, which is usually half of 50 percent or about 1.5 percent. Make sure you find the dream house within your affordability where you will stay with your family.