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Home Buying Tips

Sold-Douglas-LagosHome Buying Tips

The National Association of Realtors® would like you to know that all real estate agents are ethical, honest, experienced and care about their clients; but that would not be true. It may be true with most of the real estate agents, but not true about all of them.
There are agents whose only purpose is to make money, as quickly as possible, with no regard for the buyers. Some of these unscrupulous agents look like the rest of the honest Realtors®. So, buyers wonder if they would be better off without a buyer’s agent; thinking they can buy their first-time home by themselves.
Some of these unscrupulous real estate agents don’t return phone calls in a timely manner, don’t answer your questions until repeatedly asked, send you to go looking at homes on your own, tell you to look at homes online and are repeatedly forcing you to make offers on homes without full disclosure, are rude to you when doing home showings, and some send their inexperienced assistants to show you homes.

Working with a seasoned professional realtorDouglas Lagos, Professional Real Estate Agent

On the other hand, I personally take care of each buyer. I do not send my assistants to show you homes, and will never push you to make offers. You, the buyer, will make an offer on your own sweet time, when you are ready and have found the right home for you. I do not sell homes. I repeat that, I do not sell homes, I guide you – the buyer, and show you all the homes you wish to see, and when you are ready, help you put a purchase offer for your new home. I will show you the last sold comparables –  a comparative market analysis for nearby homes, answer any questions you may have, provide my expertise in how other homes sold at what price, why, and more. I view for sale homes twice, or more times, each and every week. I know what the other homes have inside, why they sold at a certain price, were they upgraded, needed TLC, or where complete tear-downs. It’s more than just price per square foot, it’s the total of all sums. This is where my time and expertise help you when buying homes!

I’ll tell you why it’s not a good idea to hire a listing agent (seller’s agent). First-time home buyers tend to know very little about real estate. Most experienced real estate agents are in the business full-time, and learn something new every day. Buying a home is complicated, lots of paperwork, expert negotiation, which inspections to conduct, and any little problem can blow up and put the whole transaction into the waste basket.

I advice first-time home buyers to always hire a buyer’s agent. Buyer’s agents are generally paid by the seller, so it costs the buyer nothing extra.

Disadvantages of hiring the seller's agent to buy a houseHow About Hiring the Seller’s Agent (listing agent) to Buy a Home

Some buyers believe that the listing agent (seller’s agent) has more incentive to push through an offer when the agent represents both parties in a dual agency capacity (representing both the buyer and seller at the same time). This behavior is unethical. How can a listing agent (seller’s agent) have a buyer’s best interest at heart while representing the seller? I would never, ever, represent both sides of any deal. It’s unethical.
When I represent a seller, as a listing agent, and a buyer wishes to present an offer; I advise the buyer to get his own buyer’s agent, or I can recommend one for him. Stanford Raffles Realty has honest, ethical, and experienced listing and buyer’s agents in house, so it is easy for me to recommend one of my fellow Realtors®.

Hiring a buyer's agent to buy a houseHiring a Buyer’s Agent to Buy a Home

A buyer’s agent fiduciary responsibility is to look out for the buyer’s interests first and foremost.

A buyer’s agent’s duties are:

  • Negotiate on the buyer’s behalf.
  • Fight for a fair sales price, the terms and conditions that best match the buyer’s best interest.
  •  Anticipate problems and provide solutions to be opted by the buyer.
  •  Be honest and ethical with the buyers.
  •  Disclose any defects the agent can see.
  •  Provide buyers with any, and all, seller disclosures.

Always get a buyer’s agent. Besides, you’ll find that agents who specialize in working with first-time home buyers derive a great deal of personal satisfaction by providing great customer service, and helping buyers with their first-time home.

Contact Douglas Lagos to buy your next homeContact me. I’d welcome the opportunity to offer my services.

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