May 25, 2011 2:57 am
In this market, using the first real estate agent you speak to can be a recipe for disaster for home buyers according to the home buying specialists at the National Association of Exclusive Buyer Agents (NAEBA). For years, real estate sellers have been told to interview a number of agents before they pick one to list their home because of the difference in the service and skill levels provided. However, most home buyers end up using the first real estate person they meet.
"In an appreciating market, buyers may not need a skilled negotiator and property evaluator. But today's real estate environment is different. Home buyers need to work with the most skilled agent they can find to provide market insights and to advocate on their behalf," says Barry Nystedt, Region 8 Director of NAEBA. "Home buyers need to compare the qualifications, loyalty, experience and negotiation effectiveness of real estate agents to find the best one to work with. Top buyer's agents will be very happy to discuss their capabilities and the types of savings they have been able to achieve for buyers."
If home buyers are not careful in choosing an agent they are often caught in a difficult situation if they see homes with an agent from the listing office and later decide they want to use their own agent to represent them, because the listing office may make a claim for the buyer agent fee built into the transaction.
With home values still falling in many areas, home buyers need their own loyal advocate. "Ask the real estate people you are considering working with some serious questions," recommends Nystedt. "Choose one who has a proven track record of helping homebuyers save money and who will be loyal to you no matter what home you are interested in. Don't just settle for the first real estate agent you talk to."
For more information, visit http://www.naeba.org.