WHY YOU NEED A BUYER'S AGENT... The Top 10 Reasons + 105 More!
It is crucial to consult with a professional for guidance when navigating a real estate transaction. A buyer's agent is accountable for more than 100 tasks, such as exclusively representing your interests, providing valuable market expertise, conducting personalized property searches, and efficiently managing every aspect of the process from providing the information you need to know about places your are considering, to preparing your offer, facilitating inspections, and all of the steps through attending your closing.
With an expert like Mitch, stress is minimized, and all details are handled in a professional manner, guaranteeing the most seamless buying experience that is possible. In a competitive market, having a dedicated and experienced buyer's agent is not only beneficial but absolutely necessary.
While Many Believe That Sellers Have Always Paid The Brokerage Fees, In Reality Real Estate Commissions Have Been Included In 98% Of The Comparable Sales Used To Set The Value Of Places That Are Sold. So, Buyers Have Historically Always Paid These Fees As Part Of The Final Sales Price!
Starting July 1st 2024, Indiana State Law Requires That You Have A Written Buyer's Agent Contract In Place BEFORE An Agent Can Show You Any Properties. Keep In Mind That A Buyer's Agent, unlike the Seller's Agent, represents only you as the buyer!
Reason #10 - Listing Agents work for the SELLER NOT for you as the BUYER
Listing Agents have a legal obligation to disclose all known information about a BUYER and to get the highest price with the best terms for the SELLER
The Other 9 Reasons To Have A Buyer's Agent
Reason # 9 - Listing Agents are legally obligated to withhold information from you as a BUYER.
Listing Agents cannot share with a buyer what purchase price a Seller might accept or reasons NOT to buy a property since disclosing this information is not in the best interests of the SELLER
Reason # 8 - A Listing Agent can ONLY work as a Limited Agent when working with both, a BUYER and the SELLER on the same Property
A Limited agent can share information with you as the BUYER about what other comparable properties have sold for. But a Limited agent is not obligated or allowed to explain the other comps when the price or purchase terms on the other homes do NOT support the SELLER’s price and terms.
Reason # 7 - A Buyer’s Agent MUST BECOME a Limited Agent to work with you as a Buyer whenever the Property is listed by them or by the Agent’s Managing Broker.
When you call the phone number on the sign in a yard, window or advertisement, but don’t talk with the Listing Agent, there is still a real possibility that the home was listed by the Managing Broker of the Listing Office. When that happens any Agent, legally tied to that office/Broker, MUST automatically become a Limited Agent to work with you as the BUYER. And just like in reason three above, a Limited Agent can NOT fully advise the BUYER as they normally would if they were a Buyer’s Agent.
Reason # 6 - Only a Buyer’s Agent is 100% legally and ethically obligated to put the BUYER’s interests first.
This means only A Buyer’s Agent is legally obligated to get the lowest Price with the best terms for you as the BUYER.
Reason # 5 - Only a Buyer’s Agent must 100% of the time recommend a qualified, independent home inspector who will solely represent your interest’s as the BUYER’s verses those of the SELLER.
Reason # 4 - While ALL Agents must disclose everything they know, good and bad, about any defects or conditions of a property only a Buyer’s Agent is legally and ethically obligated to share 100% of what they also know about the value or marketability of a property you want to purchase.
Reason # 3 - Only a Buyer’s Agent can advise you, as the BUYER, regarding what an initial offer should be, how much to counteroffer during the negotiation process, and ultimately what is a good purchase price for a property.
Only a Buyer’s Agent can help prepare a Purchase Agreement that is worded to address your best interests as a BUYER.
Reason # 2 - A Buyer’s Agent can save you as the BUYER thousands of dollars during the negotiating process.
When a BUYER works with a Buyer’s Agent the SELLER does NOT have access to information like how much mortgage you have been pre-approved for, what other homes you may have looked at and what you might be willing to pay for the SELLER’s home .
Reason # 1 - While historically 95% of the time the Buyer’s Agent sales commission has been included in the sales price, and a Buyer's Agent Commission was also part of the sales price of most, if not all of the comparable sales that the seller used to set the sales price on the property you want to purchase. So this amount, owed to your Buyer's Agent for 100% REPRESENTING ONLY YOU, typically has been paid at closing, as part of the sales price.
STARTING JULY 1, 2024 INDIANA LAW HAS CHANGED, AND IF YOU ARE NOT REPRESENTING YOURSELF AS THE BUYER, THEN YOU MUST HAVE A WRITTEN CONTRACT WITH A BUYER'S AGENT TO REPRESENT YOU!
AND, GREAT AGENTS LIKE MITCH HAVE BEEN ASKING THE SELLER TO PAY YOUR AGENT'S COMMISSION, AS PART OF THE PURCHASE AGREEMENT, FOR YEARS!
So, with your Buyer’s Agent’s commissions being paid by YOU, typically as part of the purchase price, it just makes sense to have an experienced Real Estate professional, who has a legal and ethical obligation to work ONLY for YOUR best interests, on your side .
Did You Know that "Most agents who show you homes don't represent your interests. They work for the seller, and their object is to sell the house for the highest possible price." - USA Today
Check out the Top 10 Reasons To Use Buyer’s Agents That Work 4 U
When interviewing REALTORS®, your goal should always include being represented by a REALTOR® who has great Experience and Expertise that is relevant to your needs and an agent who will be available based on your schedule.
The best place to start your search is interviewing Agents who are Top 20% Producers both within their brokerage and the local community of Agents.
If you want to save the 25 Questions and Answers to use for interviewing Buyer's Agents, just download the free pdf.
As A Seller... "I always felt relaxed and like his only client."
I always felt relaxed and like his only client. It is without hesitation that we recommend Mitch Rolsky as a real estate agent for both the buy and sell side.
We have worked with Mitch twice in the purchase of a downtown Indy home and then with the subsequent sale of the same house just over 2 years later. Mitch's guidance allowed us to purchase the home in a desirable location at a price level that was at the lower end of the market range at that time. During the sale of the home, Mitch paid no attention to what the home was sold for earlier but focused on what the market would bear. Mitch focused on selling the value of the home and the location as opposed to price. He knows the market extensively and set a selling price and sales strategy that worked perfectly in a softening seller's market.
We moved because of a career change which forced us to move away during the sales process. Mitch took care of everything from there....in essence, we left our entire belongings in the care of Mitch. Friendly, detailed, trustworthy, knowledgeable and professional are but a few of the attributes of Mitch. Thanks Mitch....
As A Buyer... "Purchasing Indy real estate virtually from California during covid, was not within my comfort zone."
Purchasing Indy real estate virtually from California during covid, was not within my comfort zone. I needed an agent to patiently show me things as though I was there myself, speak with blunt honesty and find balance between my "desire" list and a stable long term investment.
Mitch doesn't miss a beat! He is highly intelligent, engaged with his clients - stellar communicator with a wealth of wisdom not only through the home buying process, but in life. I always felt relaxed and like his only client, yet knew he was doing much hard work in the background.
I've heard in life that "your realtor is your best friend!" Best friends work for your best interest; he was always right there and always told it like it was....so appreciated!!! He exceeded all expectations and hope to work together again in the future!
Thinking of buying a greater Indianapolis home, condominium or townhouse... While it's easy to see the asking price, let Mitch show you what the property should sell for based on other comparable places in your favorite greater neighborhood or development.
Thinking of listing your greater Indianapolis home, condominium or townhouse... Are you curious to know what your place should sell for along with the selling prices, days on market, and list price to sales price ratios of other places in your neighborhood, development or area?