Buyer Agency is not something that started yesterday. In fact, it has been around for more than 30 years. But the only ones who knew about it were big corporations who made huge real estate purchases.
They knew they needed someone they could trust who would research every available property to see if they were suitable for their needs, delve into property values to discover the real market value of the property, and negotiate skillfully with the Seller or their Agent. They needed their own representative that they knew would find the right property at the right price and protect their interests.
The only way to meet all these objectives was to employ their own Agent. A big corporation could afford to hire their own full time agent but up until the last few years the home buyer didn't have that alternative. Now, you can have that same level of service at no extra expense! Take a tip from these corporations: Insist on having your own Agent to represent you!
There is a huge difference between an ordinary Agent with no specialized training and a QUALIFIED Buyer's Agent who is committed to serving YOU.
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Find A Buyers Agent In A Different City Or State
The value of a home is determined by it's "Market Value". Market Value is defined as the price a willing seller will accept and a willing buyer will pay for a property that has been exposed to the market for a reasonable length of time.
To determine Market Value you look at similar homes in the same area that have sold recently (preferably within the last 6 months) These are called "comparable sales." These are homes that compare closely to the one you are wanting to purchase. They should be similar in square footage, number of bedrooms and bathrooms, garage space, lot size, and type of construction.
Finding comparable sales is easier if the home is part of a tract of homes where you are most likely to find the same models to compare against one another. If it is not in a tract if is often more difficult to find sales to compare to.
Real estate agents have access to the records of recent sales as well as descriptions of the homes that have sold recently.The agent will know how to properly interpret this data and adjust it to compensate for varying condition of the homes and any additions or variances on each property
A Buyers Agent will provide you with all the data you need, interpret that data for you, and assist you in determining what to offer for a home.
While a Sellers Agent can provide the raw data, they are not allowed to help you evaluate that data or to assist you in determining what the home is worth or what your offering price should be.