If you’re planning to buy a home soon, you may be wondering, “Do I need a buyer’s agent?” On top of that, you may be thinking, “Wait, what does a buyer’s agent do?” We’re here to explain. While you can buy on your own, working with a buyer’s agent comes with many benefits that you won’t want to miss. Below, we’ll dive into the role of a buyer’s agent, reasons to work with an agent when buying a house, and success stories from Freestone Properties’ clients.
Table of Contents
- What is a buyer’s agent?
- 5 Benefits of a Buyer’s Agent (& Real-Life Examples!)
- Buyer’s Agent Checklist (How to Choose a Buyer’s Agent)
- Buyer’s Agent FAQs
What is a buyer’s agent?
A buyer’s agent is a real estate agent working with a buyer to help them find and purchase a home. The agent’s job is to present homes to the buyer, prepare an offer and negotiate the contract, navigate the escrow process, then assist with the closing once a home has been chosen. As a buyer, your agent represents your interests, so it’s important to work with someone you trust and with whom you communicate well.
Is a buyer’s agent the same as a Realtor?
Realtors are agents who are part of the National Association of Realtors (NAR), a professional organization for real estate agents. Not all agents are part of the NAR, but as it’s a group with over a million members, you’ll find many Realtors in the Asheville area. You don’t have to choose a Realtor as your buyer’s agent, but membership in this trusted organization is a good sign of an agent’s qualifications. The NAR offers agents continuing education and a wide network of connections, and all Realtors are held to the NAR’s code of ethics. Also, agents are required to be Realtors in order to access MLS.
What is the buyer’s agent’s responsibility?
A buyer’s agent is responsible for many tasks, starting with educating the buyer on the local market and to help the buyer locate a suitable property. Other responsibilities of the buyer’s agent include presenting offers to the seller, negotiating, and completing the necessary paperwork to make the sale official. These are broad topics, and there are many more things your agent will do for you. In fact, Realtor.com lists 111 tasks that a buyer’s agent may perform on your behalf. An experienced buyer’s agent will do many of these things in the background, ensuring a smooth and enjoyable home-buying process.
Do I need a buyer’s agent in NC?
While you don’t have to work with an agent, choosing to do so can be highly beneficial. An agent can make the home-buying process faster and less stressful than it would be if you bought on your own. Check out five of the top reasons to work with a buyer’s agent below, along with some real-life stories from Freestone Properties’ clients.
5 Benefits of a Buyer’s Agent
1. Market Expertise
When you choose to work with a local buyer’s agent, you’ll gain access to their extensive knowledge of the market where you want to live. Beyond their knowledge of the market and pricing trends, they’ll know the ins and outs of the city: which neighborhoods are walkable, where the best restaurants are, what school district to choose – all important information to have when deciding on a home.
Real-Life Success Story: Carol & Al, McLean, VA
“We recently bought a house in Black Mountain, NC, with the help of Scott Russell. From start to finish, he was a pleasure to work with — very conscientious, responsive, and knowledgeable about the city, the neighborhood and the closing process… We enthusiastically recommend Scott to anyone interested in buying or selling real estate.”
2. Advice and Guidance
An invaluable benefit of working with an agent is the guidance you’ll receive. Your agent will guide you through the process of buying a home, giving you advice drawn from their experience in the field. As the story below shows, communication is key when working with an agent, and the results are rewarding.
Real-Life Success Story: Charles J., Black Mountain, NC
“Big shout out to Shannon for a job well done! I’m not sure many agents could have pulled off a successful outcome on such a difficult transaction. I do appreciate Shannon’s honest and prompt communication. Skilled client consulting/guidance and effective communication were the keys to getting this deal done.”
3. Assistance with Out-of-State Buying
If you’re planning to buy a home in one state while living in another, having an agent will save you a lot of stress. Your agent will be able to do the legwork in your soon-to-be-hometown, setting you up for success as you visit to view homes, submitting offers on your behalf, and navigating the paperwork required to complete your purchase.
Real-Life Success Story: James H. & Kristie B., Newport News, VA
“James and I had the BEST experience with Shannon… We both knew we were going to be tricky clients being that we’re out of state, have never purchased land before, and had limited time that we could be in the area. While I’m sure we were as difficult as we imagined, Shannon never made us feel that way. Before we met her to look at properties she took the time to create an efficient route for us to see a lot of options in a limited amount of time. When our first property fell through she had the paperwork moving forward quickly so that we could move to our second choice. When we did make an offer on the second property we felt like she guided us to getting a great price. As we moved through due diligence she was always happy to go up and double check to make sure that the inspections, surveys, etc. were being completed… It felt like we had someone working with us who really cared about the end result and getting us what we wanted.”
4. Representing Your Best Interests
A buyer’s agent will act as your representative, advocating for your best interests throughout the buying process. This is another invaluable benefit, especially if this is your first time buying a home. Your agent will anticipate issues and ensure that you can make the best decisions when buying real estate.
Real-Life Success Story: Emily B., San Marino, CA
“I have worked with Scott over the past three years. He is the most patient and kind agent to deal with all our questions and thoughts. We are not from the local area and relied on him and his expertise to advise us appropriately. I know that he represented our best interest and really sought to understand exactly what we were looking for. I appreciate his commitment to us, his friendship and continued support even after our purchase.”
5. Industry Expertise
Overall, an agent will bring their expertise to the table when working with you. They’ll be there to answer your questions and provide support as you shop for a home (even if you aren’t quite sure what you want at the outset). You can rely on an agent to bring you the information you need to make informed decisions and find the house that’s right for you.
Real-Life Success Story: Peter & Susie L.
“We would wholeheartedly recommend both Freestone and Danny Avila. When we began our working relationship, Peter and I were an unknown quantity. We weren’t exactly sure where we wanted to buy. Both [Scott] and Danny took the time to sit down with us and explore possibilities. We are thrilled with our purchase in Wolf Laurel. Danny ensured the process was fluid. Danny is polite, caring, patient, and a great communicator. If he doesn’t know the answer to a question, he admits it, and says he will find out the answer. And he does!”
Buyer’s Agent Checklist (How to Choose a Buyer’s Agent)
Ready to find an agent? Follow these steps for success in choosing a buyer’s agent.
- Ask for referrals. One of the best ways to find an agent you’ll connect with is by asking friends and family for referrals. Ask those who have recently moved whether they recommend their agent and how the buying process went.
- Do your research. Whether you receive referrals or you choose to find an agent on your own, it’s important to research the agents on your list to ensure they are licensed. Be sure to read testimonials!
- Interview agents. Once you have narrowed down your list, you can begin meeting with agents to ask questions and determine who is the right fit. These interviews are important, as they’ll show you who wants to make time to get to know you. Ask about the agent’s process of house hunting, their familiarity with the area, their availability, and their track record. If you don’t connect well with an agent, don’t be afraid to keep looking.
Buyer’s Agent FAQs
- What’s the main difference between a buyer’s agent and a seller’s agent?
A buyer’s agent works on behalf of the buyer, while a seller’s agent works on behalf of the seller. Both agents aim to get the best possible outcome for their respective clients throughout the transaction.
- What percentage do buyer’s agents make?
A buyer’s agent typically makes half of the total commission, and the other half goes to the seller’s agent. The commission amount varies from sale to sale, but the average in North Carolina for 2024 is 5.6% (per iBuyer). For more info, read our guide on who pays realtor fees in North Carolina.
- How does a buyer’s agent get paid?
A buyer’s agent is paid a commission that is taken as a percentage of the sale price of the home. As mentioned, the commission is usually split 50/50 between the two agents involved in the sale. In most cases, the seller pays both agents, so the buyer’s agent’s commission is often paid at closing out of the seller’s proceeds. There are some exceptions, so when you interview an agent, it’s important to ask how your agent will be paid.
Working with a buyer’s agent has a wide range of benefits. With an agent on your team to help you find and view homes, put in offers, negotiate closing costs, and finalize paperwork, you’ll have a less stressful home-buying experience overall. If you’re ready to buy a home in Asheville, find it with confidence with the help of an agent from the Freestone Properties team. Our experienced agents have the insight and expertise you need when buying a home in the Asheville market. Whether you’re a North Carolinian or you’re buying from out-of-state, we’re here to make your life easier as you find your new home in the mountains.
