How to Find the Right Buyer Agent for Re Entry into the Housing Market
The great financial crisis is history, and the housing market is set to re-emerge as a viable investment option. Boomerang buyers abound across the country, particularly in places like Philadelphia. Even the people who were hit hardest by the recession and ended up losing their homes are giving serious thought to purchasing a home again.
If you are among the fortunate 41 percent whose income is higher today compared to when you bought your first home, and if you have allowed it to foreclose, then you may be interested in starting anew. Main Line Philadelphia is one ideal location to consider and Wayne PA is another, but how do you find the right buyer agent?
The Perfect Buyer Agent
The first thing you need to ensure when selecting a buyer agent is that they are a member of the National Association of Realtors (NAR). These agents are incredibly reliable, being bound to acceptable actions by a standard of ethics.
According to studies, an estimated 80 percent of all home owners who suffered from the financial crisis are re entering the housing market, which raises the stakes and the options available for buyer agents. For prime, affluent locations such as Main Line Philadelphia in particular, you need to find an agent who represents you exclusively. Never choose an agent who represents the sellers too, as it creates a conflict of interest.
Two other measures of an agent’s worth are specialization and recognition. You should check if the buyer agent has been recognized by any of their previous clients and if they trained for a particular specialization.
Why Do You Need a Buyer Agent
According to polls conducted by LoanSafe.org and the members of AfterForeclosure.com, there have been considerable reductions in the debt obligations of people who lost their homes as a result of the financial crisis. 63% of those home owners have lower debt, while 30% have significantly lower ones and 22% have managed to maintain the same levels.
Furthermore, there is increased desire to purchase and own a home again. The poll suggests that at least 29% are willing to afford similar prices again, while 46% would now prefer lower prices. These statistics serve to prove that competition for prime real estate, particularly in high demand areas such as Wayne PA and Main Line Philadelphia.
You need a professional, experienced buyer agent to help you find the best possible home at the best possible prices. Not only will they help you find the property, but a good buyer agent will advise you throughout the home buying process. There are numerous other advantages to acquiring the services of a qualified buyer agent as well.
The Advantages of a Buyer Agent
- A dedicated and professional buyer agent will invest the time to completely understand your needs and preferences, as well as your motivations, in order to find the perfect home for you.
- They will not simply point and throw out random advice, but will seek to educate you about the prevalent market conditions to help you make better informed decisions.
- Though they may be constricted by your budgetary constraints and the realities of the housing market, they will strive to find a home that provides as many of your needs and preferences as possible.
- They will conduct extensive research in your areas of choice, then cross reference all available homes with your needs – which may include proximity to good schools, retained home values, commute options, low taxes etc – and make suggestions that are most suitable for you.
- A truly talented buyer agent will persevere to deliver to you the lifestyle you desire, even within your financial constraints, albeit their might be a few surprises for you.
- They will help you create a shortlist of your top choices, and then completely handle the negotiation process.
- They will counsel you on how to deal with property repairs if required, and provide oversight for any necessary inspections.
If you are thinking of purchasing a home again, consider Main Line Philadelphia and Wayne PA as your destinations, for it always is sunny in Philadelphia and you get the opportunity to live in some wonderful, affluent communities.