The integration of real estate and the internet has revolutionized the way in which home buyers think. It has become easier for buyers to find a home on the internet in the past few years. Today, buyers often ask the question, “Why do I need an agent?”
Buying and selling homes is not something people typically do often. It’s not an every day event or even a yearly event. It can be emotional and stressful, especially when you don’t know real estate and understand the laws, rules and regulations involved in transactions. You’ll need someone with knowledge to spell out the details of the transaction. Remember, this is one of the biggest purchasing decisions you will likely make. It is not something to take lightly.
Thrive REALTORS® Know Real Estate
Thrive REALTORS® deal with real estate issues and concerns on a daily basis. With hundreds upon hundreds of successful transaction closed over the past decade, our entire team has been educated extensively on the laws and regulations that influence the market. By law agents are required to maintain continued education to renew their license ensuring they are always up-to-date on the latest real estate news and laws. Further, as Professionals, we have access to tools and an endless array of contacts in the industry to help YOU find the perfect home in the greater Denver area as well as assist you with the many steps of home buying, like getting the best loan.
The good news for buyers’ is that the seller pays for buyer representation. There is a growing rumor that buyers are able to negotiate better prices if they are NOT working with an agent. This is not the case. Here’s how it works:
- Seller lists there home with an agent (ie. Seller’s Agent)
- Seller contractually agrees to pay the seller’s agent a commission
- Seller’s agent agrees to share that commission with the buyer’s agent
- If there is no buyer’s agent, seller is still obligated to pay the commission to the seller’s agent.
- Seller’s agent keeps all the commission
- Buyer gets NO representation
Make no mistake about it, the seller’s agent is working for the seller, not for you. They have no interest in getting you a good deal; they work on behalf of the seller, and are contractually obligated to do so.
As you can see, commissions are agreed to much earlier in the process, and there is no value to gain from not using a Buyer’s Agent…only loss…loss of the most important thing, which is YOUR representation. Not only that, but why not use an agent to take care of all the details so you don’t have to?
Challenges & Pitfalls
But there are other problems that can haunt you if you’re not careful. For example, Thrive REALTORS® are trained to ensure all necessary disclosures are given completely and in a timely manner. Colorado has some of the stringent and long list of disclosures of any state.
Do you know all the required disclosures for Colorado? It can be difficult to keep up with the ever growing list of disclosures! Laws change regularly and if you’re not involved in the real estate market on a regular basis you may fall short of providing yourself ideal representation.
Other potential problems that you may encounter in the buying process involve homeowner association rules and regulations. For example, you’re a dog lover and have three but you just purchased a condo that doesn’t allow pets. What can you do? Nothing! You can sell the condo but that’s about it. You’re legally bound by your agreement with the association and you’re unlikely to change their rules as a new member. More importantly, do you know what to look for in HOA Documents? Do you know how to analyze an HOA Financial Statement? These are critical processes that we can help you with…all at no cost to you!
Be smart: Know that as much as you think you know… there is always more to know. Trust that you’ll likely forget something in the process. Hiring a Thrive real estate agent will save you the trouble in your attempt to research every problem you may run into during the home buying process. You’ll not only save yourself time researching but also avoid potential risks.
Guidance in the process…at no cost
Further, Thrive real estate professionals are trained and experienced in helping people find homes to suit their needs and their budget. While you may want to move to a certain area, you may not have the budget to do so. Or it could be the other way around. Perhaps you don’t realize you can afford to buy in a particular area. Hiring a Thrive REALTOR® to help you determine your ability to buy in certain areas will save you valuable time. Once you’ve been pre-approved for a loan your Thrive agent will begin the task of finding the perfect home for you. They will tailor your search criteria based upon different factors including, but not limited to:
- Price range you’ve been pre-approved for
- Number of bedrooms desired
- Number of bathrooms desired
- Areas and communities of interest to you
- Special features such as yard, garage, main floor bedroom, etc.
- Your style
- Neighborhood trends
- How long you plan to live there
Ready to use the most advanced home search tool on the web?