Choosing a Buyer's Agent

Recent developments in the real estate industry have brought Buyer Agency services to the forefront of the real estate conversation.  A Buyer's Agent represents a Buyer in identifying a property to buy.  They assist the Buyer in evaluating properties, preparing offers and developing negotiating strategies that work in the best interests of the Buyer.  This relationship is established through a Buyer Agency Agreement.

Real estate purchases are large financial transactions and it is advisable to hire an experienced Buyer's Agent to assist you in navigating through this process.  If you choose to retain a Buyer's Agent to assist you with your next real estate purchase, below are seven key qualities to look for.

Local Knowledge

Every real estate market is unique and local market knowledge is invaluable throughout the entire process of purchasing a new home or condo.  A real estate agent with strong local knowledge can provide you with valuable insight on specific communities, advise you on the pros and cons of the Ocean City real estate listings you are considering and they will be familiar with the customary practices of the local market.  If the Buyer's Agent you hire is not local they likely do not possess the local market knowledge that is required to advise you properly and you could be in for a challenging transaction.

Market Experience

The primary way that Ocean City Realtors acquire experience in the real estate industry is by helping people buy and sell real estate.  This is achieved by both years in the business and the number of real estate sales that an agent has successfully completed.  You can gauge a real estate agent's experience by reviewing their past sales history and agent reviews.  In your search for a Buyer's Agent look for an agent that has sold multiple properties in the Ocean City real estate market areas that are of interest to you.  This will ensure they are familiar with the specific market and its unique nuances.

Communication

One of the primary complaints about Realtors is their lack of communication and follow-through.  Deals for the better properties tend to move fast in the Ocean City real estate market and securing them requires strong lines of communication.  Once you go under contract on a property there is a lot to manage in a relatively short period of time and it is imperative that you be kept up-to-date at all times.  Look for a responsive, proactive agent that has a history of providing open and honest communication, which can be easily verified by reviewing their agent reviews.  This will ensure that you secure a good deal, all information requests are addressed promptly and that your home or condo purchase continually moves in a positive direction towards a successful closing.

Useful Technology

The Buyer's Agent you choose to work with should offer useful technology that streamlines your real estate purchase and makes it more efficient.  This should include access to a quality website with a connected portal that aids in keeping your real estate search organized.  Related information such as market reports, comparable sales and a real estate knowledge base should also be available on the website.  Once you are under contract you should have access to a workflow management system that provides full transparency into the transaction so you know what needs to be done next and where things stand at all times.

Strong Partners

The lenders, title companies, home inspectors, insurance provides and contractors that you choose to work with will have a considerable impact on your overall real estate transaction.  Your Buyer's Agent should be able to recommend reliable, competent and experienced service providers based on long-standing relationships and nothing else.  These relationships should be leveraged in your favor by the Buyer's Agent to ensure you consistently receive a high-level of customer service and accountability from these service providers.

Negotiating Ability

Negotiating is both an art and a science that when executed correctly will save you a considerable amount of money and help to avoid potential issues down the road.  This is another area where it is important to work with a seasoned Ocean City real estate agent as strong negotiating skills are only attained by extensive experience in the real estate industry.  Your Buyer's Agent should negotiate on your behalf for the best price possible, with the most favorable terms and ensure your interest are represents and protected throughout the process.

Workflows

There are a lot of tasks, people and information to manage in every real estate transaction.  You will want to ensure the Buyer's Agent you choose to work with has established systems and workflows in place to manage this process.  This will ensure that all of the necessary steps are completed in the right chronological order and on-time.  You will be aware of where things stand with your transaction at all times and will have an enjoyable overall experience.  If the agent you choose to work with does not have these workflows in place things tend to get done haphazardly and overlooked, which can lead to costly mistakes and a lot of frustration.

As you can see, there is a lot to consider when choosing a Buyer's Agent to work with.  Not all Buyer's Agents are created equal.  You deserve to have a local, experienced real estate agent assisting and advising you throughout the home buying process.  If you would like to discuss Buyer Agency in greater detail or my specific qualifications and processes, feel free to contact me directly anytime at 443-614-9179 or via email below.    


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