Works for you Full Time.
Deciding to buy a home, whether it is your first one or a retirement home, should always be done with a professional FULL TIME real estate agent. I cannot emphasize enough the importance of using a real estate professional in the Louisville real estate market, even more so with the current market conditions. There are assumptions and misconceptions made about the role of a real estate agent. Many times, I find the assumptions are wrong and the misconceptions based on poor experiences by others. There are exceptions to the rule but I tend to err on the side of the rule, not the exception.
A real estate agent is hired by you to find the house. Asking you to sign a buyer’s agreement is only a contract to that decision. Would you expect to start a renovation or rent a home without signing a contract? All professionals use contracts. Your real estate agent needs to be full time and have many years of experience. If they are not a veteran agent, be sure they work with an experienced team. The truth is, virtually anyone can get a real estate license. The other truth is, there is high turnover and many more bad agents than good. Most times real estate agents are put in a “feast of famine” situation by brokerages and the actual brokerage does not take much care in training agents and supporting them along the way. I totally get new agents may be superstars in the making but be sure they have the support of a hands-on brokerage or team. There is also a segment of the real estate population that includes part-time who moonlight as agents. Again, there are exceptions, but if they are not working in real estate full time, their skills will not be as polished as a full time real estate agent. Full time real estate agents have years of human capital and professional infrastructure in place to find homes in Louisville not yet on the open market.
“I can get a better deal” if I use the listing agent is a serious misconception. The listing agent is working in the best interest of the seller. They have an agreement in place to pay for the buyer’s agent commission. Technically, the seller is paying for you to have representation. If the listing agent then also represents you as the buyer you are only helping the agent double his or her commission. The commission is set before the house is listed and is never, never neva eva paid buy the buyer. There are agents who, when representing a buyer, will ask for a buyer fee or an additional buyer commission. THIS SHOULD NEVER HAPPEN!!!
My final thoughts on this topic are please conduct interviews with 2-3 agents before you decide which real estate agent you want to represent you. The real estate agents who appear on Zillow adds pay to be there. Not all real estate agents are the same, there is a wide variety. You should choose one who you trust will have your best interest in mind. It is not going to cost you extra money to have buyer representation but it could cost you greatly if you don’t. You have professionals work on your car, help you make health decisions, you should also have one when making the most important financial decision.