Cove Real Estate



Posted by Cove Real Estate on 12/16/2016

Buy A common misconception amongst the general public is that using a real estate agent when purchasing a home will be costly. What consumers don't realize is that they won't actually be saving themselves any money by foregoing the use of a buyer's agent. Buyers may inaccurately assume that they'll get a better deal by working directly with the listing agent of a specific property they're interested in, rather than by adding a buyer's agent to the mix. This belief is grounded in the ideology that if there's only one agent involved, only one agent is being paid. While this is true, the money-saving theory behind this type of one-agent-transaction is being misconstrued. There is, in fact, only one agent being paid, in this case the listing agent, however, this agent will receive the full commission from both sides of the negotiation. The same monetary value is wielded whether one agent or two agents are involved in the contract making this alleged shortcut inconsequential. The drawbacks of dealing directly with a listing agent as a buyer, are however, substantial. The listing agent is contractually obligated first and foremost to the seller. The listing agent represents the seller's best interests by law. By hiring a buyer's agent, buyers are actively ensuring that their best interests are not an afterthought, and are on the contrary, of the utmost importance to their agent. If you are a potential buyer, looking to purchase a new home or make a real estate investment, allow a real estate agent to act on your behalf. A successful buyer's agent is not only obligated, but happy to hold you, the buyer, as his or her number one priority in every part of the purchasing process. As your buyer's agent, my job would be to help you, help you. How can I help you today?





Posted by Cove Real Estate on 1/29/2016

When you are looking at buying a home there are don'ts you should be aware of. Many times the handling of the negotiation can mean the difference in huge amounts of money. This is why it is vital to have an experienced agent on your side. Here are just a few common pitfalls to avoid.   Not doing your homework Doing your homework is important in such a large purchase. Ask your agent for a list of comparable homes recent sale prices. Look to see how long comparable listings have been on the market and what the average sale to list price ratio is. This will give you the information you need when making an offer and negotiating a final sale price. Not understanding the seller Try to look at the deal from the opposite side of the table. A sale is typically emotional for a seller. When making an offer try not to insult the seller, offering a fair and realistic offer to purchase will typically get you further in the negotiations. If you know the seller's motivations for selling you may also be able to offer terms that might be more attractive like a quick close or inspection. Showing your cards While you want to know as much about the seller as possible divulge as little about yourself in the negotiation as possible. Any knowledge the seller has about your motivation can be used as leverage in the negotiation. Getting your heart set Buying a home can often be an emotional process. Identify several properties you'd be happy with as well. Be careful not to get your heart in the way of your head as it can sometimes hinder the deal. Trying to win In a sale there needs to be two ingredients: a seller who wants to sell and a buyer who wants to buy. Try not to getting caught up in the game. Ultimately it is about buying a home and not winning a negotiation.