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Discusses the role of the real estate agent in the home buying process in Washington State. Identifies several important benefits which agents can contribute to buyers. Also encourages readers to reach out to Sammamish Mortgage and its team of mortgage professionals to learn more
Buying a home is easily among the more exciting events a person will experience in his or her lifetime. There is something special about buying a home. Homeownership has a kind of permanency which have a strong impact on a person’s life.
When you buy a home, you’re openly proclaiming to the world that you’re putting down roots in a certain area. You’re signaling that you’re a fixed part of your community. Of course, those who rent may have every intention of remaining in their community, but those who buy making a firm declaration of their intention to stay.
The home buying process is very involved. There are so many different angles and issues to think about. When a new prospective home buyer begins the process, one question which will probably come up is the following: what is the role of the real estate agent in the home buying process? Nearly everyone has heard about agents, but not everyone fully understands what these people do.
In this post, we will explain in detail the role of the real estate agent in the home buying process. If you’re planning to buy a home in Washington State in the near future, you will want to seriously consider hiring an agent to work on your behalf.
As we will see, agents can provide extremely valuable services which can substantially improve the buying process. To be specific, agents can provide much needed education about the market and guidance on finding the right property.
Agents also typically have access to networking opportunities which most non-agents do not have access to. Furthermore, agents can advocate for buyers in myriad ways, including negotiation.
When you hire an agent, one of your agent’s principal functions is to provide education about the home buying process and the local market. Real estate agents know the home buying process inside and out, and they are there to make their knowledge available for your benefit.
They can help you understand and navigate through the home buying process so that it isn’t overly burdensome. Your agent can also help guide you toward finding the right home. Your agent will listen to your wants and needs, and then utilized his or her detailed knowledge of the market to find the best property for you.
This service may be particularly useful in very complex real estate markets, such as those in Washington State. If you’re looking for a home in a market such as Seattle or Bellevue, for instance, having an expert can make a very significant difference. In markets such as these, having a good real estate agent can literally make the difference between finding your dream home finding something mediocre.
One of the advantages of hiring an agent is that an agent will have access to networking opportunities which are usually unattainable to someone outside of the real estate industry. Real estate agents typically know and work together with a large number of other agents in their area.
This means that they can reach out and ask for advice or recommendations for properties. An agent working in Bellevue, for instance, will typically have relationships with many other agents based in Bellevue. That Bellevue agent will very likely have relationships with other neighboring areas, such as Redmond or Seattle.
This networking capability can be extremely useful. It’s very possible that, while your agent may not know of any properties which fit your ideal, another agent may know about a property which may be suitable for you.
Additionally, your agent will also have connections with other real estate professionals, such as mortgage lenders, inspection professionals, appraisers, and so forth. It’s very possible that you may need to use your agent’s connections for these other services at some point during your transaction. This is another advantage of hiring someone in the real estate industry to work on your behalf.
Perhaps the biggest advantage provided by a buyer’s real estate agent is advocacy. When you hire an agent, your agent will represent you in various capacities. You should be sure that you enter into a contractual agreement with your agent to ensure that your agent works specifically for you throughout the entire process.
In some cases, a buyer’s agent may not have an incentive to keep the price of your target home as low as possible. This is why you need to develop a contract which obligates the agent to work to ensure you’re placed in the best position from a financial standpoint.
Once you establish such a contract, this will give you a big leg up when you begin to work out a deal with your seller. Your agent will negotiate on your behalf with the seller’s agent and try to nail down a mutually agreeable price.
Having an advocate during the negotiation process can be a huge benefit. Few home buyers have any experience in this type of negotiation, and having an experienced agent can translate into substantial financial gains.
Based on the above information, it should be clear that hiring an agent can contribute a good deal of value to your transaction. Ultimately, if you hire an agent, this will come with a price, but this price is very often worth the value that your agent can bring to the table. In addition to real estate agents, mortgage professionals can also be helpful in walking you through the home buying experience and providing other relevant information.
At Sammamish Mortgage, we have a whole team of qualified mortgage professionals who understand the home buying process thoroughly. Our mortgage professionals can assist in guiding you through the mortgage loan acquisition process or the home buying process.
Related: 7 Steps to Get a Home Loan
Sammamish Mortgage has been in the mortgage industry since 1992. We are a family-owned mortgage company and we take great pride in serving the needs of customers all throughout the Pacific Northwest region. We currently offer mortgage programs to borrowers in WA, ID, OR and CO. If you’d like to learn more, contact us today.
Whether you’re buying a home or ready to refinance, our professionals can help.
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No Obligation and transparency 24/7. Instantly compare live rates and costs from our network of lenders across the country. Real-time accurate rates and closing costs for a variety of loan programs custom to your specific situation.