Value Of A Buyer's Agent
What is the value of using an Exclusive Buyer Agent
? What makes them different than other real estate agents?An Exclusive Buyer Agent in Chicago, IL, Rich, has a background in the construction industry. He worked in construction for over 30 years. Having this professional history has raised his value as an Exclusive Buyer Agent.
When Rich shows a buyer a home, he can show them the issues he can see from his eye as a skilled construction worker. He knows it is important for the home buyer to be aware of the good and the bad things about the home they are shown.
Most Exclusive Buyer Agents are paid out of the commission at closing. Basically, they don't get paid if the home buyer does not find a house to buy. It is in the buyer agent's best interest to expose every aspect of a home so the deal does not fall through later. Good Exclusive Buyer Agents will also counsel when to walk away from a deal.
Rich says he shows things to the home buyer like peeling paint, windows that need replacing, water leaks, etc. Being in construction gives him the advantage of estimating what the financial setback will be for the buyer when he finds problems with the homes.
Being able to estimate costs of repairs can be of great value when making negotiations with the seller. Having an Exclusive Buyer Agent who is well-versed in this industry, along with a reliable home inspection report, can be an asset when making negotiations which are repair related.
According to Money Magazine Joseph Eamon Cummings, a study done by US Sprint found that over 200 of their employees who relocated using buyer's brokers paid on average 91% of the listing price on their homes.
Buyers who use a traditional real estate agent normally pay around 96% of the listed price. So by buying a $200,000 house, the buyer would end up saving somewhere around $10,000 with a buyer's agent!
Rich has his broker's license as well as his knowledge in construction. He is an Exclusive Buyer's Agent, and he belongs to the National Association of Exclusive Buyer Agents as an active member. This means he does not have any listings within his office. He is there to guard and fend for the interests of the buyer and only the buyer. He has access to every MLS listing, all foreclosures, and all for sale by owner properties as an Exclusive Buyer Agent.
Based on client feedback, Rich's work is above and beyond what most people expect from their buyer agents. They love him and rave about their experiences.
Buyer representation through an Exclusive Buyer Agent is a smart financial decision for buyers. Oftentimes, many Exclusive Buyer Agents have unknown skills and history that strengthen their ability to help home buyers when they are buying a new home.
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