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When you're looking to make one of your lifetime's largest single investments, there are many reasons why you should hire a professional Realtor® (Member of the local Realtor Association) in North Carolina, but the first thing you need to know is agency law in North Carolina.
The buyer’s agent’s commission is almost always paid by the seller and almost always by a for sale by owner! By hiring an experienced Realtor® as your agent, your move is smart based on National data from NAR.
Why is experience important? Well, it's simple...What profession can you think of where experience isn't important? From negotiating various high volume deals with agents/sellers and dealing with different personalities, to structuring a contract that protects YOUR INTEREST, to relocating families while understanding the importance of time management, the stress of such a life-changing move and ensuring a smooth process.
Experience with selling high-end luxury homes and what type of features you should expect at various price points and navigating a complex comparative market analysis is important in helping buyers of all price ranges... The learning curve is real! Having knowledge of construction materials/techniques is one of the most overlooked reasons. There's an advantage of using our "vetted" service partners and connections and utilizing our "network of agents" can also be a huge advantage, especially in finding homes in a highly competitive market! In what industry do relationships not matter? You can only learn so much in a class! 90% is done through real-life transactions.
Reasons for having a good REALTOR®/buyer's agent on YOUR side -
1) It's important to know all real estate agents aren't Realtors® or members of the National Association of Realtors(NAR) which must follow a strict Code of Ethics.
2) The loyalty of a licensed seasoned professional buyer’s agent should be the main reason to hire one. This reason should encompass the next 12 reasons.
3) Seller pays the commission (almost all the time), even though we represent you.
4) Navigating ever-changing market conditions, purchase contracts, residential property disclosures, multiple offers, etc. while having the knowledge to explain the various pitfalls and advantages.
- Are you paying over market value and concerned about a market downturn?
- Should you expect the sellers to reduce their price if it does not appraise?
- Are you willing to pay the difference if the house doesn't?
- How much Due diligence should you ask for when multiple offers are on the table?
- Did you ask for closing costs to be paid by the seller then the house doesn't appraise...what happens?
- Do you expect the sellers to make repairs even though the contract says in the current condition?
5) You gain access to the MOST reliable search portal (TMLS- Triangle Multiple Listing Service), while searching for homes, giving you an ability to receive creative/unique searches with a map view, TIMELY UPDATES(new and price reductions), keeping an inventory of the properties, deleting undesirables, taking notes, while saving your favorites. SIGN UP FOR COMING SOON ALERTS and saves you hours of time by allowing your broker to connect you to a customized, reliable, personalized website portal of your own. You can even change or add searches! In a Hot Market, timely updates are extremely important!
6) Probably the most simple and overlooked part of hiring a real estate professional is having easy access to view multiple homes with your busy schedule, without having to deal with various agents, their schedules, and sales tactics. This saves you a lot more time than you think and is worth hiring an agent just for that reason alone. Time is Money!!!
7) This is only my opinion, but my clients would attest to my philosophy in regards to buyer's agency...a good buyer’s agent/specialist should be more about SERVICE than SALES. Providing valuable information, being available when needed, easy to contact and communicate with while protecting their client's interest should be a buyer's agent top priority.
8) Reasonable knowledge/experience of the entire region, so you can compare/contrast while also saving time. Which areas appreciate best, which are more rental areas, where is the Land Fill located or where is future HWY going? This is obviously mostly helpful for relocating clients.
9) Knowledge of the neighborhoods. Which neighborhoods are appreciating the most based on market updates? Members receive quarterly reports exclusively from an appraisal group. We have insights into vital stats with information on bestselling or highest appreciating neighborhoods or best amenities for the money. Insights into what’s the next up and coming neighborhood.
10) Also one of the most overlooked aspects of having experienced agents by your side is we understand new and old construction techniques/materials, having the ability to identify red flags of potential problems and knowing quality when you see it. What year did they quit using aluminum wiring? When was fiber cement siding introduced to the market? What is polyethylene and when was it installed? What other new materials have become an issue and need to be aware of in the home? A buyer’s agent should have experience recognizing potential topography issues. What's a truss roof? Was this space permitted and what are the red flags and signs it may not be correct? On and on!
11) What I don't understand most is the buyers that go to New Construction onsite agents (who mostly work only for seller/developer as Sellers Agent) and don't consider having a buyer’s agent there with them. I can't tell you how many times I see intelligent buyers making awful mistakes. From lot selections to upgrades, the list is long. Even if a buyer’s agent can't save you one penny, a good agent will do many things to help you through the transaction and often notice the little things you miss. Just KNOWING THE PROCESS is helpful. An extra pair of seasoned eyes in a walkthrough always benefit the buyer.
12) The main and obvious reason to hire an experienced or quality Realtor is negotiating throughout the process. From sales price, due diligence money amount, home inspection, closing problems, and knowing the CURRENT MARKET CONDITIONS. Why go to a listing agent/dual/seller agent and try to (maybe but unlikely) save a small amount % of commission, but having NOBODY negotiate on your behalf? Dual agents cannot even negotiate or advocate for you, even on the home inspection report! Many agents don't even like to do dual agency much less cut their commission while doing both sides of a transaction and having all the responsibility or potential liability. We have many highly experienced clients, that are successful business owners, international industrialist, doctors, entertainers, financial advisers, CEO's, CFO's, lawyers and engineers, etc. that understand we provide a service that is useful.
13) Hiring an experienced broker is using their knowledge in understanding resale value!!! Knowing what the coming trends are and the outgoing fads, which might affect future appreciation. The Location, layout, topography, functionality, construction materials, schools, etc., it's all-important to your big investment!
14) After showing 1000's of homes and real estate in Raleigh NC and the surrounding Triangle area, there is an inherent wealth of knowledge an agent gains or they haven't been paying attention. We can't say we've seen it all because there's always something new, but volume is the experience.
Allow me or one of my experienced team members/Buyers Specialists at Phillip Johnson Group to help you find your next dream home!
The Phillip Johnson Group | eXp Realty | 919-404-SHOW