As if to emphasize this, website regulars will recall the two great homes we recently featured with video blogs (see here and here). They are both already sold, one in five days and another just a few hours after it was listed!
Great news if you're a seller (please click here if we can we be of assistance), but perhaps a little concerning if you're a buyer, in so much as the supply of homes in the Albuquerque area is constantly reducing, while demand is growing stronger all the time, with impressive results like the above recent examples.
It therefore follows that recruiting a top class buyer's agent in the current conditions is of paramount importance.
And before we go any further, let's completely dispel one of those common myths about home purchase, among inexperienced first time buyers, in particular. The services of a buyer's agent will cost you nothing. Agents earn their money from their share of the commission on the sale, paid for by the seller at closing time.
Now that's out of the way, let's focus on the crucial advantages your buyer's agent will bring to the party.
Buyer's agents are the first to know when homes arrive on the market via the multiple listing service (MLS) and through their close working relationships with other agents.
This means that you'll be among those at the front of the line to get the earliest home viewings and, as a direct consequence, be able to make an early offer. This process often commences before the home is even marketed online, or anywhere else for that matter. The importance of being an early bird really can't be overstated at the present time, when inventory of available homes for sale is so low.
And with choice so limited in many areas and home categories, having a buyer's agent working hard every day for you to identify properties that are best suited to your needs is really essential.
If you don't have your own agent, you will only be viewing homes that are already on the market, plus you will be dealing directly with the agent who listed the home. Listing agents are, understandably, mainly concerned with maximizing the seller's return, which naturally benefits them too, in terms of higher commission. The buyer's agent, on the other hand, is working to a different mindset, negotiating the best deal for you.
Don't underestimate the value of the agent in the negotiating process. He/she will be thoroughly experienced in knowing how to get the most from the sale for the buyer. This isn't just knowing what the lowest acceptable offer price might be. Home inspections, for example, may often reveal problems that need to be fixed before the sale is finalized. Your buyer's agent will know how to handle these situations to your advantage, sometimes even negotiating a reduced price for issues that cannot be resolved in time. In some situations, it may even be possible for your agent to get the seller to pay for all your closing costs.
Once the offer is accepted and the sale moves towards closing, the buyer's agent will be able to guide you through all the paperwork that inevitably comes with a home purchase, taking an enormous weight off your shoulder. Experience is, yet again, vital at this time, helping you to avoid any contract problems that an unassisted buyer might miss altogether.
Indeed, we'd go as far as to say that there are few other things in life where you can receive so much invaluable assistance and service without paying a single cent for it!
Why not contact us today and learn more about the our experience and track record in assisting home buyers.