Buying a home is one of the most significant decisions you’ll make, both financially and emotionally. If you’re a first-time buyer, you may be excited about transitioning from renting to owning, but you might also feel a bit overwhelmed by the process. Relocating or move-up buyers may have some experience, but it can be helpful to refresh your knowledge on the intricacies of home buying.
The homebuying process is complex, and the market can be competitive. To navigate this journey effectively, having a trusted advisor is essential. Here are a few reasons to hire a buyer’s agent:
- Expert Guidance Through the Process: Leonardi Real Estate agents help buyers navigate every step of the home-buying journey, from initial search to closing. Their expertise ensures a smooth and informed process.
- Market Insight and Accurate Pricing: Agents at Leonardi Real Estate emphasize the importance of realistic pricing. They understand market trends and help buyers make informed offers, avoiding overpaying for a property.
- Local Knowledge: With a deep understanding of areas like Folsom, Fair Oaks, El Dorado Hills, Cameron Park and Sacramento, Leonardi agents can provide insights into neighborhood amenities, school systems, and community dynamics.
- Exclusive Access to Listings: Their agents offer buyers early access to new listings and off-market properties, providing more options and potentially less competition.
- Customized Property Searches: Leonardi agents are committed to helping buyers find homes that match their unique criteria, including price range, location, style, and specific needs.
- Professional Network and Connections: Leonardi agents have a vast network, including inspectors, contractors, and financial advisors, to ensure all aspects of the purchase are managed efficiently.
- Negotiation Skills: With strong negotiation tactics, they advocate for buyers’ best interests, working to get favorable terms, including pricing, repairs, and contingencies.
- Understanding Buyer Representation: Buyers sign a Buyer Representation Agreement, which ensures commitment from the agent and clarifies the agent’s roles and responsibilities, fostering a transparent relationship.
- Education and Empowerment: Leonardi Real Estate agents prioritize educating buyers about the home-buying process and empowering them with the right questions to ask, enabling them to make confident decisions.
- Avoiding Pitfalls and Common Mistakes: Their experience helps buyers avoid costly mistakes, like overpaying or overlooking critical property issues. Agents can flag potential issues and help navigate complexities in contracts and disclosures.
By hiring a Leonardi Real Estate agent, buyers gain a trustworthy ally committed to finding the best possible home and providing support every step of the way.
*** Important Industry Changes ***
Beginning August 17, 2024, ALL homebuyers must sign a Buyer Representation Agreement with a real estate agent BEFORE viewing any homes. While it’s possible to sign a one-time agreement for a single showing, it’s wiser to select an agent early and establish a trusting relationship. This allows the agent to fully understand your needs and provide expert guidance throughout the process, ensuring you receive the best advice and representation. So, don’t just focus on finding the ideal home—take the time to find the right agent as well!
We’ve included a few very important links to the new changes, requirements and information:
FAQs: Hiring a Buyer’s Agent and Associated Costs
Should I hire a buyer’s agent?
Absolutely! Partnering with a buyer’s agent is highly advisable. They will help you navigate the home buying process, negotiate on your behalf, and ensure you get the best deal. The buyer agent commission is typically covered by the seller, but not always.
What is the cost of a buyer’s agent?
A buyer’s agent usually charges a commission of about 2.5% to 3% of the purchase price, which is typically paid by the seller as part of their closing costs. However, there may be situations where the buyer needs to pay their agent directly, which can affect property marketability.
What does the new law say about commissions?
The new law aims to provide sellers and buyers with more flexibility regarding the payment of the buyer agent commission. Sellers can set the amount offered to the buyer’s agents, and while a standard commission of 2.5% to 3% has been common, lower offers may lead to fewer showings. The new law also requires agents to have Buyer-Broker agreements in place BEFORE showing homes.
If I sign a buyer-broker agreement, am I locked in with my agent?
No, you’re not locked in. Most buyer-broker agreements include cancellation options if you’re not satisfied. Depending on whether the agreement is exclusive or non-exclusive, you may be able to terminate it immediately or within a specified period. Be sure to review the terms carefully to understand your options.
For the latest changes and more information, please check the links provided above.
