As a buyer, do I need a buyer’s agent? It’s a question many buyers ask. The simple answer is YES. Although isn’t not required, it’s definitely a good idea. In the state of North Carolina, we are in a Caveat Emptor or “Buyer Beware” state. That means that although certain items have to be disclosed by seller disclosure laws, the buyer must beware of any issues before the transaction closes. Once a home is closed on, it’s yours. For that reason, along with others, it is a great idea to have your own Buyer’s Agent.
A buyer’s agent looks out for the buyer’s best interests. The buyer’s agent works with the buyer to make sure they are ready and able to purchase a home, helps them find the right home, assists in contract negotiations, assists with home inspections, repair negotiations and helps to make sure everything is in place and ready for the closing to take place. The buyer’s agent also double checks all of the figures on the closing statement and helps to answer any concerns or questions the buyer may have. In short, having a buyer’s agent can save you lots of headaches, heartaches and money.
Many home buyers will frequently drive into a new neighborhood and speak with the agent on duty. Home buyers will also frequently call the listing agent of a property that they see online or driving by and inquire about the home directly from that agent. It is important to know that the listing agent is in fact the seller’s agent and is representing their needs and interests. This not only applies to existing homes but also to new home communities as well. It is also important to know that in the State of North Carolina, ANY agent you call to show you a home works for the SELLER unless you go into a Buyer Agency Agreement with the agent.
Another important thing to know is that, generally speaking, in the State of North Carolina the seller pays the real estate commissions and agrees to set amount at the time the home is listed for sale. The amount does not change whether a buyer has their own agent or not. That means that the seller is paying the same pre-agreed upon amount in commissions when the home closes. Agents in North Carolina usually don’t charge the buyer for anything because their fees are paid by the seller. In short, it doesn’t cost you anything to have a buyer’s agent but it could cost you a lot to NOT have a buyer’s agent when buying your home.
If you are looking to buy a home, we at Alford Realty Group would love to help! We have the knowledge and skills that it takes to get you a great home at a great price and as smoothly as possible. Contact us today for assistance.