Tuesday, June 8, 2010

Brokers for Buyers

The world of Real Estate is fraught with perils for the inexperienced buyer or seller.
Fortunately, trained individuals stand ready to serve as guides in this dangerous terrain. With years, and sometimes even decades, of experience, real estate brokers are not simple messengers between a buyer and a seller. They have certain skill-sets that can save a buyer time and considerable amounts of money. However, for some reason certain buyers choose not to employ a broker. This irresponsible choice is ironically fueled by a desire to expedite proceedings and save money – instead, it often leads to contrary results.

When a buyer first sets out to purchase an apartment, they are bombarded with listings. Some of those listings are, for a lack of a better word, spam. Buyers of new homes are subject to a constant barrage of phone calls from the builder’s agents, as are unrepresented buyers who frequent open houses. Brokers act as a buffer to those calls – protecting a buyer from unneeded attention. When a buyer begins to seriously look at certain properties, his broker can assist him in gathering information about the neighborhood where the buyer will be spending a considerable portion of their life.

Brokers are an amazing resource for information such as crime rate, school districts and demographics. In addition to helping a buyer choose a property to look at, they are also indispensable when the purchasing process begins. While brokers do not simply select prices for buyers, they can guide the buyer in choosing the right price by providing sold and closed comparables along with financial analysis of these numbers. This interpretation of the data greatly benefits the buyers by protecting them from paying too much and creating a sense of confidence otherwise absent from the process.

They can also give advice as to which vendors are the most competent and price-competitive. Additionally, what many buyers tend to not realize is the simple amount of paperwork that comes with buying a new property – the stack of paper in any given transaction can vary from one to three inches in thickness. Brokers have the resources needed to take care of that paperwork in the most efficient way possible. In addition, a good broker will sort through the package and present it in a simple and thorough manner.

Lastly, a good broker will provide guidance by answering questions even after the offer is accepted and once the buyer is under contract. Without proper guidance, even during the smoothest transactions, post-contract chores can be daunting. Every broker succeeds by getting good referrals and those referrals come directly from the buyers. Thus, it is in every broker’s interest to satisfy his clients and keep them happy. Brokers will do anything to help their clients, and there is no one better suited to help a buyer during one of the most important moments of their lives.

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