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Madding Hill Team - We understand what it takes to win in an ultra competitive buyers market.


YOUR GUIDE TO BUYER’S AGENTS


Introduction


If you’re looking to buy a house, then whom do you trust to help you find the best deal possible? A real estate agent, right? While that is true, it’s imperative that you have the right agent working on your behalf.


Today we’re going to be talking about setting up an agency agreement with a buyer’s agent. We’ll discuss the meaning of that term, what your arrangement can consist of, and the benefits of that relationship.


What is a Buyer’s Agent?


Simply, this is a real estate agent who represents the person on the buying side of a real estate transaction: the buyer. The agent on the selling side of the transaction representing the seller is often referred to as the listing agent. They are there to serve the seller, which means that they will be interacting with a lot of different buyers.


However, if you’re the one looking for a home, then having a buyer’s agent working for you is probably the best move that you can make. At first, you may wonder if it’s necessary to have one in the first place, but there are a lot of benefits that come from this relationship.


One thing to keep in mind, however, is that you have to have an agency agreement to get the best services. While you could work with an agent without an agreement, a lack of guarantees on both of your parts could lead to a lackluster process, which could affect your ability to close.


Overall, it’s much better to enter into an agency agreement with your buyer’s agent if you want to proceed. Not only will this ensure that you get the best service, but it offers written protections and guarantees that will come in handy during the buying process.


Benefits of Using a MaddingHill Team member as your buyer's agent


As you can imagine, having someone representing you when searching for a new home can have a few perks. Assuming that you’re not familiar with all of the details of what it takes to get into a new home (e.g., paperwork, inspections, financing, title insurance, appraisals, and so on), a MaddingHill Team agent will be able to make the experience much easier and smoother for you.


Let’s go over the primary reasons that you would want to sign up with a MaddingHill Team agent.


BETTER REPRESENTATION


If you were to search for your next home by yourself, and you contact the listing agents you meet along the way, they will only have the interests of the seller in mind. Sometimes buyers unknowingly ask the agent representing the seller to help them in preparing an offer of the home. While this process is possible, as a home buyer you are asking the agent who represents the seller to now represent you as well.


This can bite you in a few different ways.


First, if there are multiple buyers interested in the property, you will have to compete with them without having a buyer’s agent to consult with you regarding strategies to beat the other offers. Essentially, you are negotiating blind, which means that you have little power in the proceedings.

Secondly, if you are presenting your offer to the listing agent directly, your enthusiasm (or lack thereof) can be communicated to the seller without any context. For example, if you think that the asking price is a “great deal,” then it may limit your chances of negotiation in the future since the agent will have relayed that comment to the seller.


Finally, you won’t have someone who understands all of the complexities of the home-buying process at your disposal. Thus, you will have to rely on the seller’s agent to provide you with all of the details, and again, your interests are not their primary concern.


Overall, a MaddingHill Team agent will make sure that your needs are met during the whole experience. You will be building a relationship with your agent, who will want to know what kinds of elements are most important to you for your new home and what parameters you’re hoping to fill.


Then, when the negotiations begin, you will have a knowledgeable expert in your corner. A MaddingHill Team agent will be able to guide you through the transaction, letting you know if there are risks or concerns along the way. He or she will help you navigate through the process so that you understand what’s going on every step of the way.


NO FEES


Before you sign with a MaddingHill Team agent, you may be wondering how much it will cost you. After all, he or she is putting in a lot of hours and work for you, so you’ll have to provide compensation, right?

Fortunately, that’s not handled by you. Rather, in almost every home sale, it’s up to the seller to pay both agent’s fees. This means that you don’t have to pay for anything out of pocket, and you can rest easy knowing that you got the best service regardless.


Here is another little known benefit of entering into an agreement with a MaddingHill Team agent. Let’s say that you have an agent who has been helping you search for homes, but you have not signed a buyer agent agreement. That agent has to consider this risk: without an agreement, you could, at any time. decide to work with someone else to find a home. There is a chance the agent isn’t going to put as much time and effort into the experience to make sure that you’re satisfied.


No one wants to work for free, and when you don’t have a contract, it doesn’t make sense for the agent to make you a priority. Instead, he or she may focus on his or her other clients and put you lower on their list because the other people were willing to sign an agreement.


Overall, if you want the best service from your agent it’s a good idea to enter into an agency agreement.


MORE OPPORTUNITIES


How much time can you devote to buying a new home? By that, we mean how many hours can you spend looking for properties for sale, vetting them, and calling different agents to try to schedule showings? Assuming that you have a job and a life, the answer is probably a lot less than it should be.


With a MaddingHill Team agent on your side, you don’t have to worry about missing out on an opportunity. He or she will dedicate enough time to finding places that fit within your parameters. Also, your agent will make sure to do legwork beforehand so that you don’t waste time on houses that won’t be desirable.


Have you ever gone to an open house, only to be disappointed by the asking price or some other element of the property? A MaddingHill Team agent will be able to vet the home before you even think about visiting it to make sure that this doesn’t happen. A MaddingHill Team agent will know what’s important to you and avoid properties that don’t meet your criteria.


Another thing about having a MaddingHill Team agent is that you can get access to more homes. If you’re checking only a handful of sites or listings, you will miss out on properties for sale that aren’t on your radar. Since your MaddingHill Team agent is connected to the real estate industry, he or she will be able to hear about houses that may not get listed publicly, or at least not on sites that you would be checking. Often, a MaddingHill Team agent will let the other agents in their own office know about properties that will be coming on the market before anyone else. This can be great for you if your MaddingHill Team agent gets an inside tip!


PROFESSIONAL RECOMMENDATIONS


If you’re new to the home-buying process, you probably aren’t aware of all of the steps you have to take to make sure that you’re getting a good deal. You’ll also have to work with a variety of people, from mortgage brokers to lenders to appraisers.


With a MaddingHill Team agent, he or she can recommend high-quality service providers to fit your needs. If you still haven’t secured a loan, your agent can put you in touch with someone who can help expedite the process.


These recommendations can run the gamut from people who will help you get financing to movers who can transport your stuff quickly and safely.


Let's have an initial conversation


By now, you’re probably sold on the idea of having a MaddingHill Team agent in your corner to help you find your new home. Here are some important examples of criteria we will discuss with you getting the process started:


WHAT AREAS OR NEIGHBORHOODS DO WE SPECIALIZE IN?


We ensure that we have the top knowledge needed to answer the very necessary questions most clients value: “Must-haves” that you want near your home. If your agent doesn’t specialize in that neighborhood, you run the risk of missing out on the crucial elements you desire.


WHAT’S OUR AVAILABILITY?


Even with an exclusive contract, your agent may only do this as a part-time gig. If that’s the case, then you have to make sure that he or she can dedicate enough time to finding the home of your dreams. All MaddingHill Team agents are FULL TIME and FULL SERVICE agents! This is our living and we take it very seriously (and also have fun along the way).


WHAT IS YOUR TIMELINE?


Do you have to move quickly due to a new job or expiring lease?

An even better reason to have a FULL TIME MaddingHill Team agent working with you so we can dedicate our time fully to consider scheduling. If you have very little time or a unique schedule that will make it difficult to see homes during normal hours, a MaddingHill Team agent can accommodate these needs. We even offer video tours of homes if you are out of the local area.


Finally, remember that there are a lot of steps to getting into a new home. MaddingHill Team agents have proven strategies that will help their buyers compete to get the winning contract.


BOTTOM LINE


If you’re ready to get started with a MaddingHill Team agent, then contact us today to find out how we can make your home-buying experience enjoyable and effortless. Don’t stress about finding the home of your dreams; let us handle the dirty work for you so that you can focus on what matters.


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