A VA Buyer’s Agent: What They Do
Property listings are easily found. When real estate agents first list their homes for sale in the multiple listing service, or MLS, these listings turn feed hundreds of other websites, automatically. Through a method called IDX, or internet data exchange, when a property is listed in the MLS, it shows up on other real estate websites. The property is featured as well as the name and contact information of the original listing agent.
Real estate agents promote other agent’s listings on their own site in order to act as a representative of the buyer during contract negotiations. The agent who originally placed the home in the MLS is called the listing agent and the agent representing the buyer is called the buyer’s agent. What does a buyer’s agent do and should you use one?
Yes. Use a buyer’s agent. A buyer’s agent will meet with you to discuss your home buying goals. Do you want to live in a certain school district and how long do you think it will be until you buy your next home, and so on? You can search for real estate on your own but a full time, professional real estate agent knows more about the real estate market than you will ever know.
A buyer’s agent will help you determine an ideal offer to make. Sellers may want their home to sell for $300,000 but your agent will tell you where the price will eventually end up, and make the offer for you. Paying too much for a property is a mistake that need not be made.
Your buyer’s agent will negotiate the contract for you, arrange for a property inspection and make a counter-offer should the inspection identify specific property issues that need to be addressed such as a broken fence or faulty air conditioning unit. Your agent can also refer you to lenders that are experienced with VA loans and help walk you through the process and finally be with you at your closing.
Oh, and the bonus? A buyer’s agent shouldn’t cost you a thing as buyer’s agents are paid a percentage of the sales price by the seller of the property. You get all that for free. Yes, you should use a buyer’s agent.