Secret to Scoring the Best Home in the Neighborhood
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Using the Agent you used selling your home in a totally different neighborhood could cost you dearly. Luxury agents know their peers and negotiate accordingly. Neighborhood specialists know the inventory, the pockets, and those homes that could be coming available soon. Tenured agents know a bad deal in their neighborhood when it goes down. This and much more . .
- Many homes never even get listed Look for neighborhood longevity in an agent. Work with a tenured Realtor© who works long hours 7 days a week and has invested years in building their career in this industry. You are more likely to find the perfect home if you work with one who specializes in your favorite neighborhood, as they know the inventory, the “pockets” and those that will, or could, be coming available soon.
- When negotiating out-pays closing costs An agent tenured in the neighborhood knows the other strong agents and recognize the newbies. In Maricopa County over half of licensed agents are part-timers or new to the field. Luxury agents know their peers and negotiate accordingly.
- Transactions frequently fall out of escrow Many transactions fall apart, sometimes just before closing, due to number of factors. Experienced agents will have already put safeguards in place with carefully vetted inspectors, contractors and key knowledge of the neighborhood, effectively resolving problems before they escalate. But they can also spot a novice situation on a house you desire that has a high probably of failure, to your advantage.
- The Seller pays your buyer agent commission In Arizona the seller typically pays commissions for both sides of the transaction. Don’t be fooled into thinking you’ll get a better deal by dealing directly with the Seller side of the transaction. A tenured Agent that has been in the business and knows the neighborhood will undoubtedly save you more money during negotiation and the inspection process, while decreasing your liability.
- This is a huge investment, and a huge potential liability You use a professional to prepare your taxes, because there is a point in your net-worth which you cannot possibly follow all of the ever-evolving tax laws that affect you. Same with your medical practitioners. Specialization spread across multiple clients is a win-win for everyone. If you see a “For Sale By Owner,” take your Realtor, most will pay the commission to reduce everyone’s liability. If you stop by an Open House, let them know you have representation. There is too much at risk to NOT have a Realtor looking out for your best interests.
- Critical Parties working on your behalf Your tenured Realtor has long term relationships and experience with title and escrow companies, lenders, inspectors, appraisers, contractors, movers, insurance brokers, mold re-mediation, pest control, and a long list of additional resources critical to the success of a smooth transaction.
- New Home Subdivisions are no exception Home-builders include Buyer Agent commissions in their proforma before they even gain funding. Fact: The agent in the Model home has a fiduciary responsibility to represent the builder, and the builder alone. Buying without representation does not save you any money, the rep in the model doesn’t pocket the money, and there is no deduction for non-represented buyers. Tenured agents have dealt with most builders in the neighborhood and know the idiosyncrasies unique to each. You need to be aware of considerations on everything from the lender, to the documentation and need for third party inspections. Take your agent with you on your first visit, or log them in on your inquiry, and contact them afterwards as soon as possible to register you as a represented buyer.
About the Author: Denise van den Bossche has been a licensed Agent and homeowner for over 35 years in the Metro Phoenix Valley. To request a printed market report, home evaluation, consumer guide, or info on your specific market, contact Denise at 602.980.0737 or email Denise@AZMultipleListingService.com. Denise’s husband Patrick is President of Realty Executives International, so if you need help buying or selling homes anywhere in the U.S. or Canada, please call, email or text!
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