Benefits of Working With a Buyers Agent

Representation is an extremely important factor in any real estate transaction. When buying a home, it is imperative to make an informed decision, and having a Buyer’s Agent is an instrumental factor in the process.

“When you work with a Buyer’s Agent, their fiduciary responsibility is to you, as the buyer,” says Walter Moloney, a spokesman for the National Association of Realtors. The National Association of Realtors or NAR is an organization which along with the Department of State establishes state laws regarding representation and disclosure.  NAR's membership is composed of residential and commercial real estate brokers, real estate salespeople, immovable property managers, appraisers, counselors and others engaged in all aspects of the real estate (immovable property) industry, where a state license to practice is required. Members belong to one or more of some 1,600 local Realtor boards or associations. They are pledged to a code of ethics which was adopted in 1913 and standards of practice, which includes duties to clients and customers, the public and other Realtors.

Buyer’s Agents are there for their clients to rely on.  They are an ally, and should be a strong resource to go to with any questions you may have on homes, areas or neighborhoods. Furthermore, they are experienced on the local market; having knowledge on market conditions, as well as pricing where they can provide comparables of homes sold or sales pending to support pricing on offers their clients may make.  They are also familiar with the home buying process, taking much weight off the buyer’s shoulders walking you through from beginning to end; first having a consultation with you to go over your criteria to help find exactly what you are looking for in a home, to showing you properties, to negotiating, then Home Inspection, next appraisal then finally bringing you to the closing table, along with chosen legal counsel.

Buyer’s Agents should always perform their due diligence; making sure all necessary steps are taken to ensure that the transaction goes smoothly, such as going to the local Building Department to confirm there are no open Certificate of Occupancies (C/O’s) and verifying taxes with the Town Tax Assessor. Buyer’s Agents verify this information so there are no surprises when the title of home is received by the Buyer’s Attorney, or closing hold ups; for instance obtaining a C/O can take up two months depending on how busy the Town Building Department is. If buyers need to close by a certain date, this hold up can cause a major problem; they may have to pay for an extension to keep their mortgage rate locked in, or in the worst case scenario, if the date no longer works for them, they may need to find another property all together. If this information is found in the beginning of the process there is time to get it taken care of prior to closing.

Since purchasing a home is the largest investment you will ever make in your lifetime, it is wise to work with a professional. Be sure you are comfortable working with the agent you choose and that they are working for you!

Information and advice provided by Alicia Albano, Licensed  Salesperson with Houlihan Lawrence Yorktown Office also serving  Mahopac.  Contact me with any questions at 914.447.6569 or please  visit my website for helpful information www.AliciaAlbano.com or  www.MahopacLakeFront.com