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The Information Highway and Buyer Representation

Saturday, May 17, 2014

 

That moment you have been waiting for has finally arrived; you've been pre-approved to buy a home, excitement and eagerness sets in and the first thing you probably say to yourself is "what's next?" surprisingly enough you answer your own question the minute you go online and begin browsing for homes on scores of websites, that's right, the first step is the home search or is it? Perhaps you know exactly where you'd like to live, how many bedrooms, baths, style, etc. etc... Maybe you have no idea what you want? Either way, you know that the internet is probably going to be the best source for information. It doesn't take long for you to engross yourself into all that the World Wide Web has to offer when it comes to searching for that perfect home which can cause you to actually overlook the most important aspect of the home buying process, having buyer representation by a licensed real estate professional!

In an age where property and neighborhood information is readily available with just a few clicks of a mouse, potential home buyers must still understand the importance of buyer representation by a licensed real estate agent. It's no secret that as a buyer you have access to nearly the same exact information that an agent has online but by not hiring an agent to represent you from start to finish could put you at considerable risk. Matter-of-fact today's websites make it so simple that they offer tabs where in just a few clicks of the mouse, they can put you in touch with the listing agent to answer any questions you may have or to schedule an appointment to view the property. While this does play into the "convenience" factor of today's space age technology and while making direct contact with the listing agent isn't a bad thing, it leaves out one key ingredient to this entire process which is "representation". Having buyer representation is such an important aspect to a successful real estate transaction as it offers the same benefits the seller gets from working with a listing agent such as:

Fiduciary responsibility: Someone who is contractually bound to protect you and your interests only. Having no representation leaves your personal and financial information open for all to see.

Adaptation: The market changes constantly and every year new rules, regulations and laws surface. Let a dedicated real estate agent guide you through what may seem like a maze of confusion.

Contract & Negotiations: Real Estate transactions involve a slew of legal paperwork such as contracts and addendums, deadlines and negotiations along the entire way. A buyer’s agent can help you navigate your way through all of it and refer you to other professionals in the industry for things that are beyond their capacity.

Home search: While you may know what you are looking for in terms of amenities, agents can identify positives and negatives that you may overlook with items such as structure, mechanicals and much more.

Pricing a home: The listing agent’s job is to get the seller the most amount for his/her home as possible, having your own representation allows you to get the best price possible, buyers agents have the tools and ability to conduct due diligence on whether or not the home is priced accordingly in that market area.

In conclusion, while you may feel like you can handle searching for a home on your own, there are a numbers of benefits to having a real estate agent represent you specifically during the entire process. So the next time you are surfing the web and you feel the uncontrollable urge to get as much information instantaneously, stop for a second and reach out to your local real estate agent and consult with them first because based a 2012 Survey of Home Buyers and Sellers by the National Association of REALTORS®, 89 percent of buyers used a real estate agent and so did 88 percent of sellers. There is a reason why those numbers are so high and it’s up to you to help them continue to grow.
 

 

Related Slideshow: 10 Great RI Homes The Just Came on the Market—May 9 2014

Prev Next

Coventry

101 Pilgrim Ave

3 beds, 2 baths

$259,750

Bright airy colonial with new hardwood floors. Granite counters in kitchen & baths. Large eat-in kitchen opens to deck. Full basement with walkout ready to be finished. Wooded back fronting river with paths. Country living with convenience for all.

Days on the market: 7

To see more of this property, go here

Prev Next

Foster

102 South Killingly Rd

3 beds, 2 baths

$304,900

Builders home, Raised Ranch built in 2005. Offers 3 bed, 2.5 bath, Central Air, roughed in central vac system, 75% finished basement w/ Den and Rec. rm. Sits on 1.63 acres with a fenced yard and privacy. Minutes to Foster Country Club. Call today!

Days on the market: 5

To see more of this property, go here

Prev Next

Warwick

24 Peaceful Lane

3 beds, 2 baths

$356,000

Impeccable young Colonial in wonderful Cowesett neighborhood. Home boasts a large family with gas fireplace opening to an updated kitchen with stainless steel appliances. Beautiful master suite. Great outdoor living space with a deck and patio.

Days on the market: 8

To see more of this property, go here

Prev Next

West Warwick

2 Kathleen CT

3 beds, 2 baths

$264,900

Prime Location. Colonial on corner lot. Open floor plan, central air, 2nd floor laundry, huge master suite with bath and walk-in. Hilltop Estates.

Days on the market: 2

To see more of this property, go here

Prev Next

Bristol

347 Spinnaker Ln

2 beds, 2 baths

$295,500

A perfect “10”. Tastefully decorated featuring water views and sunsets. Enjoy the open floor plan. Gleaming hardwoods, fireplace, tandem garage and super storage. 1/2% sale price paid by buyer to NFHA at closing.

Days on the market: 3

To see more of this property, go here

Prev Next

Charlestown

13 Burlingame Dr.

3 beds, 2 baths

$375,000

Meticulous, well-cared-for home in Charlestown. Low Taxes. Porch, deck, and screened in porch. Perfect for entertaining. 2 Fireplaces, gleaming hardwoods, large master bedroom with walk in closet, and partially finished basement. A lovely home in a great location.

Days on the market: 4

To see more of this property, go here

Prev Next

Hopkinton

485 Main St

4 beds, 3 baths

$435,000

Attention, History Buffs! This historically significant property is longing for your love. Lovely home with 4FP, original moldings, and wonderful details.Yet, it’s gotten lots of updates: roof, furnace, plumbing, electric. Gorgeous 21 acres. Ideal gentleman’s farm.

Days on the market: 4

To see more of this property, go here

Prev Next

Cranston

10 Dove Ct

3 beds, 2 baths

$417,000

Beautiful 2 bedroom colonial in desirable Alpine Estates. Hardwoods, granite kitchen, fireplace LR, master suite w/ jacuzzi tub, central air on professionally manicured lot. Won’t last.

Days on the market: 2

To see more of this property, go here

Prev Next

Narragansett

14 Green Acres

3 beds, 3 baths

$514,000

Bring your boat and water toys. Granite Kitchen, Hardwoods, Furnished, Quiet Neighborhood with Right-of-Way to Water (Salt Pond) with Community Dock, Direct Ocean Access, Less than 2 minute walk to water, Master Bed and Bath. Excellent Condition.

Days on the market: 2

To see more of this property, go here

Prev Next

Providence

373 Academy Ave

4 beds, 1 baths

$260,000

A GoLocal favorite, you have to see this gem in Elmhurst - priced to move. Original 1920 Colonial. Double living room w/stunning woodwork & craftsman gas fireplace. Original lighting. 2 large bedrooms with elegant sitting rooms. Enormous 3rd floor loft bedroom– hardwood inlay floors & high ceilings. Covered porches. 2 car garage.

Days on the market: 3

To see more of this property, go here

 
 

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