You’ll want to engage a buyers agency during the coronavirus pandemic if you want to take advantage of the record-breaking low mortgage interest rates (as of writing this piece, the interest rate on a 30-year, fixed-rate mortgage is 3.31 percent).
Even though states around the country have imposed stay-at-home orders, these experienced buyers agency professionals will be able to help you through every stage of the homebuying process.
Understanding the Buyers agency’s Role
A buyers agency is a licensed real estate agent who represents you, the buyer, throughout a real estate transaction. An agent can assist you in finding a house that meets your requirements (and your budget!) as well as answer any concerns you may have about the area.
While you tour several homes and ooh and ahh over cherry cabinets and restored, original flooring, your realtor will point out items you may miss, such as problematic floor layouts, whether the property is in a flood/fire zone, and so much more.
Your realtor will assist you in submitting an offer that will not upset the seller after they’ve assisted you in finding a home and you’re ready to make an offer! They’ll go through the contract’s specifics with you so you know exactly what you’re receiving when you sign your John Hancock on the dotted line.
As you navigate the homebuying process, a buyers agency will become your new best friend, and the buyers agency agreement will detail everything your agent will do for you.
In a world where there is a coronavirus, how do you find a buyers agency?
Have you ever noticed that as soon as you decide you’re ready to start looking for a home, you’re bombarded with commercials for real estate agents? You could be waiting for a bus and see an agent’s face and contact information plastered on the bus’s side. You could go out on a drive and see a slew of billboards along the side of the road!
Because there are more than 2 million real estate agents in the United States, 1.4 million of whom are members of the National Association of Realtors, you will encounter a lot of real estate agent advertisements.
How can you choose a buyers agency out of millions of competent experts when there are so many active, licensed professionals ready to assist interested homebuyers?
First and foremost, do your homework!
You’ll want to conduct some research before employing the first agent you discover on Facebook who seems to be skilled. The agent matching function on HomeLight is a terrific tool to utilize during this time since it allows you to identify top-selling agents in your region who can assist you look at houses without having to leave your house.
The program examines over 27 million transactions and customer evaluations to provide three top-selling agents who are familiar with the region, your requirements, and current market trends. You may then review the agent’s profile, speak with the agent, and acquire a wealth of information to assist you in making a selection.
The agent’s years of experience, typical price range, where areas they do the most business in, and any accolades they’ve received over their career are some of the details you can expect to see on their profiles. You may also read testimonials from former customers.
Asking for references from people you know who have recently purchased or sold a home is another way to discover a real estate agent. You may also seek references from experts who work with real estate agents on a regular basis (home contractors, mortgage brokers, and plumbers, for example).
You can utilize community networks to identify agents if you’re an active member of the community. You’ll not only be able to locate someone who knows the city, but you’ll also be able to get to know them outside of the real estate office.
Conduct an interview with potential agents.
One of the difficulties of hiring a buyers agency in a coronavirus world is not being able to shake their hand and speak with them face to face. You may call them or use a tool like Zoom or Skype to video chat with them. We like video conversations because they seem more personal and being able to put a face to a name is always great.
When you do have a chance to speak with an agent, whether by phone or video chat, there are a few key things you should ask about the coronavirus and safety.
Massachusetts’ top-selling real estate agent “Under any condition, it’s important to have an experienced agent who’s available to you and someone who can accommodate you promptly for showings,” says Shari McStay of the McStay Team. Buyers should search for a real estate agent with strong negotiating skills and connections to house inspectors, lawyers, and lenders.
Select an agent
It’s time to make a choice now that you’ve talked with many agents.
Consider which agent makes you feel the most at ease. Any queries you have about coronavirus safety, market trends in the region, and so on should be answered by an agent.
If you’re moving to a new city or state, be sure to inquire about topics that matter to you, such as the school system, neighborhood safety, and public transit.
You may not have had the opportunity to talk with them face to face, but your gut feelings are correct!
During the coronavirus epidemic, be careful and employ a buyers agency.
Nobody knows for sure how this epidemic will damage the country in the long run. One thing is certain: individuals will always need to find a place to call home. Some may be concerned about how the coronavirus may affect the economy and house sales in the short and long term, but this is yet to be determined. If now is the appropriate moment for you to purchase a home and you’re financially secure, a buyers agency can assist you through the process and ensure you’re paying a reasonable price.
You don’t want to purchase a property on your own, whether you want to buy now or wait until 2023. You have an expert who can help you through every stage of the process if you hire a buyers agency.