Failing to use the services of a realtor.
Buyers often make the mistake of thinking that using a real estate agent will cost them money, or that they will be able to better negotiate directly with the seller or seller’s agent.
When buying a home you can use the services of a Buyers Agent who will be committed to you and will negotiate the best deal to your benefit only. Your agent will be paid his/her commission from the seller, as the selling and buying agent will split the commission offered by the seller!
A Buyers Agent is a FREE service to you! He or she will save you time, money, and stress!
Not understanding who the agent is really working for.
Your agent may actually be working as a sub-agent for the seller. This happens even when it is not his/her listing, but is a listing with the same agency. If at any point you are not sure who your agent is working for, always ask for clarification.
Being Blinded By Emotion
For most of us buying the family home becomes very emotional once we find that perfect place to call home. It’s important to have an agent to remove emotion from the negotiating process. Your agent can guide you through the process and provide you with the information you need to make an informed decision.
Not Having a Home Inspection Done
Buying a home is the largest transaction most of us will ever do. This transaction usually takes place after just an hour of viewing time. There is so much to take in when looking at a new home that only a qualified building inspector can walk you through the entire process.
Failing to Get Pre-Approved and Secure a Rate Guarantee
This should be done before one starts shopping for real estate, not once the perfect house is found. This will ensure you are shopping in the right price range. It is also to have the rate guarantee to protect you in times of fluctuating interest rates.
Have your realtor do a comparative market analysis done before making an offer. The seller received this service when listing with a realtor and you are just as important as a buyer. A comparative market analysis will help you make an informed decision before you present an offer.