Times have been changing on who home buyers look to for guidance and home buyer representation. A study was conducted and pulled from 2001 – 2011 for three different categories for the “Method Of Home Purchase:“
Through a real estate agent or broker
- Now, more than ever, home buyers are looking towards Realtor’s to assist in the purchase of their new home, this is because Realtors normally have all the necessary tools like the smart city software that can help home buyers find the best property. Purchasing your new home through a real estate agent or broker for recent homes is at 89%. This statistic is up from 69% in 2001. Today’s home buyer’s are using real estate agents more and more due to the increasing amount of Short Sales, Foreclosures, or For Sale By Owners are a big part of today’s market, this is making the field very competitive and the real estate agent advertising is becoming more and more important. Consumer’s need the assistance and help of a real estate broker to help them through the process. Whether Realtors Greensboro are showing a candidate the attractions of Greensboro/the Triad area or helping a new hire find the perfect home, they are here to take the worry away.
Directly from builder or builders agent
- Home buyer’s that bought their home directly from the builder or builder’s agent has decreased in use. In 2001, it was 15%, now at 7%.
Directly from the previous owner
- In 2001, the percentage who bought from their previous owner was 15%, down to 4% in 2011.
Using a Buyer’s Agent or Seller’s Agent For Representation
- When buying your new home, you need to fully be aware of how you, as the home buyer, are being represented by your real estate broker. You may think that you are being fully represented, and having your concerns addressed, when in fact, you have no one on your side. The Buyer’s Agency Agreement, states that your buyer’s agent is there to look out for your best interests, and to negotiate for you for the best deal. Some home buyer’s can feel scared to lock in with one Realtor and hire just one Realtor. I think the outcome of signing with a realtor to look out for you is much better than the alternative. I sometimes hear that you may not like your real estate agent, and therefore, don’t want to be forced into using the same one. It states in the agreement, that you hire the entire company, not just that Realtor. So if you don’t like the one you have, you can request a different one. But you need someone on your side!!
The next study focused on All Buyers, First Time Buyers, and Repeat Buyers. For the study, they researched who got representation and what kind.
The results were higher than I would want to see regarding home buyer’s who thought they were being represented, but unsure, as well as home buyers who didn’t know. To hire a buyer’s agent is free to you as the home buyer. There is no reason to not get someone to look out for you! Call Crystal today for more information. For first time home buyers, take a look my “Home Buying Expenses” article to better prepare yourself.
In Jacksonville, NC, you can start searching for homes for sale in the following areas:
Survey info from NAR