Listing Courtesy of ReMax Coastal
They don’t teach this in high school, but maybe they should. The difference between a Bethany Beach buyer’s agent and a Bethany Beach seller’s agent can be pivotal, yet first-time home buyers have to figure that out on their own. You can read quotes on the web that say things like, "I looked for a buyer’s agent instead of a real estate agent" (true story!) that illustrate how little knowledge is out there. It wouldn’t take much classroom time to explain that buyer’s and seller’s agents are both real estate agents, after all. And while the subject is being explained to the class, I’d put in these five very good reasons for using a buyer’s agent in Bethany Beach home purchases:
1. There for You
A buyer’s agent is by definition obligated to promote the interests of you, the buyer. When you are being shown a home by a personable real estate agent, it’s tempting to simply go with that agent, who may be quite a nice person. After all, he or she knows the house and knows the seller. But the problem is that the agent is duty-bound to act on behalf of the seller—and in any business negotiation, you want somebody who is unequivocally in your corner. Especially since-
2. It’s Free!
A buyer’s agent is compensated through a commission. In this case, it is paid out of the proceeds from the sale price of the house. You’re reading that right: since it issues from the sellers’ proceeds, you get the service for free! Of course, the size of commission the buyer’s agent receives can impact negotiations if the seller thinks the rate is unreasonable. Remember that you can negotiate most things, including agent compensation.
If you rely on the listing agent, he or she can only answer certain questions that don’t transgress their duty to the seller. Issues like price, tactics, and timing can be crucial in striking a good deal—but it is precisely on those kinds of issues that a listing agent is likely to be unable to advise you. Especially if you like the agent, you might be tempted to assume silence on a point means endorsement; and that could be a costly misunderstanding. Again, a buyer’s agent in Bethany Beach knows the area market from the buyer’s perspective, and can provide a wealth of information that point you in the right direction.
4. Your Personal Traffic Cop
In a typical real estate transaction, you will encounter an array of players, including lawyers, the seller or sellers, the seller’s agent, the financial institution, the home inspection team, and on and on. Buyer’s agents keep things running smoothly. They help organize the process so it makes financial and emotional sense to choose your buyer’s agent carefully.
5. It’s Free!
If ever there were something worth repeating…
The point worth remembering is that buying a house or a condominium is such a major event, securing a professional to watch out for your interests is good common sense. It’s why giving me a call even before beginning any house-hunting venture is a very good idea!
It’s true of any commercial offering: sometimes a perfectly saleable item doesn’t move off the shelves as rapidly as predicted. Real estate is no exception—not every Bethany Beach home is sold as quickly as its owner and the property’s Realtor® wish. When that happens, and the term of the original listing expires, an important decision must be made: should the listing be renewed, or should another Bethany Beach Realtor be enlisted to try a different approach?
If you have been dissatisfied with the amount of effort your current Bethany Beach Realtor has demonstrated up to now, the decision will be easier than otherwise—especially if you have already communicated your impression and been less than overwhelmed by the response. You are right to expect that your Bethany Beach Realtor will have posted attractive, accurate listing material for the MLS, has included your property in the advertising program that goes out to the community, and has been diligent and professional in showings and (if it was agreed upon) open house presentations. You should have been able to contact her or him within a reasonable amount of time when communications were called for, been satisfied by the punctuality of appointments when scheduled.
If performance in any of these basics has been unsatisfactory, it’s entirely reasonable to entertain a change in representation. On the other hand, if your Realtor has not disappointed in any dimension, you are left in a problematical situation—one which has no clear-cut solution. Whether or not your inclination is to stick with the team in place, to make the right decision you need more information. The best guidance is—get it!
· Before you decide whether or not to extend the relationship, ask your agent to review the days on market (DOM) for similar nearby Bethany Beach properties. An analysis will show whether yours is the only slow-moving property, or whether it has simply hit a lull in neighborhood activity.
· Ask yourself whether you have paid attention to the suggestions offered by your current Realtor. If you have chosen to bypass any of them, this could be an appropriate point at which to reappraise.
· If you have had many showings with few offers forthcoming, it’s a pretty good sign that your asking price is higher than prospective buyers believe is justified. If that’s the case, changing Realtors alone isn’t likely to have the desired effect. You’ll need to fix whatever problems visitors are seeing…or else lower the price.
If a hard-headed analysis tells you that switching Bethany Beach Realtors is warranted, don’t worry too much about the reaction you will get. Most Realtors are very professional; they know that clients do occasionally change representation for a number of reasons, and that hard feelings are simply not warranted. Be ready to interview several agents and to compare what they offer. Pay extra attention to how they propose to stimulate activity—you are well-positioned to appraise their ideas!
For my clients, in addition to an energetic marketing approach, I put a premium on keeping the highest quality communications flowing at all times. Give me a call whenever you have a Bethany Beach real estate query! Call/Text me Russell Stucki at (302) 228-7871, email me at email@example.com, visit more listings at www.beachrealestatemarket.com.