Does it really matter who I choose to help with the transaction when buying a piece of real estate?
Many first time buyers ask this question with good reason. They assume it doesn't matter who helps facilitate the deal as long as they don't have to mess with too much legal jargon. The truth is, not caring about this big step can cost you thousands.
A representative for the buyer is more than just a licensed person capable of facilitating the transaction and making sure all papers are signed. They can literally save a buyer thousands of dollars if allowed to help from the start. Once you have already chosen a home with out a buyer's representation, it may be difficult to introduce one so it helps to have one from the get go.
There are two types of real estate agents, or brokers. The listing agent and the selling agent. In Alaska these are referred to as representatives. The listing agent is working first for the seller of the home and helps with staging, marketing and presenting the home to potential buyers. The selling agent or representative, typically has the buyers and brings them to the table for the transaction. At any time, any broker can do both jobs either separately or simultaneously. If the same agent or broker is fulfilling the role of both jobs, they are considered a dual agent. This is legal however it poses some ethical concerns as to whom the original confidentiality and loyalty lies.
Having buyer's representation on your side from the beginning allows you to relax and let the agent do the work. The agent will help find a home that meets your guidelines and keeps financial and personal information confidential throughout the transaction. If the seller knows you can afford much more than you are offering and you love the home, they may not be willing to accept your lower offer. This information does not have to be disclosed during the negotiations. Your buyers representation can also negotiate on your behalf for any details in the contract and is your go-between for buyer and seller communication. You never have to deal personally with the seller and this alleviates much stress.
When you are ready to begin your home search we can help get you started in the right direction financially and real estate minded. For top notch Alaska buyer's representation please send us an email below. We would love to help get you into your own Fairbanks home.