Some people think real estate agents have no interest in helping their buyers get the lowest price possible on a house, so that they can make the biggest commission possible.
OK, to be fair, there are probably some agents like that…
…but there are a lot more amazing real estate agents who take great pride in helping their buyers score the best possible deal, and to save as much money as possible when buying a house.
Here are 8 ways hiring a great buyers’ agent can save you money when buying a house:
1) Negotiating Skills
This one’s kind of obvious, but their negotiating skills certainly top the list of ways a great buyers’ agent can save you money on a house!
2) They Have a Feel for How Low You Can Go
There’s a fine line between a “low” offer and a “”lowball” offer! Lowball offers are the quickest way to insult an owner and tick them off so bad that they won’t budge on their price, and may even not want to deal with you at all — even if you’re willing to increase your offer. A skilled buyers’ agent can help you come up with as low of an offer as possible, without crossing the line into lowball territory.
3) Winning a Bidding War Without Being the Highest Bid
Sellers are often inclined to accept the highest offer when they have multiple offers to choose from. But a savvy buyers’ agent knows how to position your offer in the best possible light, and can increase the odds that your offer is accepted even if it isn’t for the most money by focusing on other aspects of the offer, such as terms and conditions, their client, and their reputation as an agent.
4) Keeping You Calm So You Can Think Straight
A lot of times it’s not the agent who pushes a buyer’s price higher and higher; it’s the buyers themselves! It’s easy to get caught up in the heat of the moment and offer more than you want to, or should, when you’re in love with a house. A strong buyers’ agent can help you keep your emotions in check so you don’t make too high of an offer, or spend beyond your comfort level.
5) Show You Options in a Lower Price Range
Just because you can spend a certain amount, doesn’t mean you have to! But it’s easy to put blinders on and only look at houses in the top range of your budget, or even higher. Houses in lower price ranges often get overlooked by buyers because they presume they won’t be as good… and oftentimes they aren’t. But a skilled buyers’ agent who gets to know your wants and needs can identify homes in lower price ranges that would be a great purchase and help make sure you don’t miss the opportunity to save some money.
6) Show You Options in a Different Area
Buyers also get fixated on specific areas sometime, and miss out on the chance to save some money by buying in a lower priced area. Once a great buyers’ agent gets to know your wants, needs, and life situation, they can often suggest areas you might not have even considered that end up not only saving you money, but also being the perfect place to live.
7) They Hear Things Through the Grapevine
While a seller’s agent shouldn’t be sharing confidential information about their clients, a buyers’ agent with their ear to the ground can pick up some useful scoop — such as why a seller is selling, or why their house isn’t selling — and use it to your advantage to get a lower price on a house.
8) By Cutting Down on How Much Driving You Do
Whether gas prices are at an all-time high, or super cheap, you can rip through a lot of tanks of gas just driving around looking at houses and areas just to rule them out. A great buyers’ agent can save you from spinning your wheels (literally and figuratively!) by helping you eliminate houses and areas from your search that they know won’t interest you, based upon your reaction to others they’ve shown you.
