Charotte, NC|Buyer Agents? Why You ALWAYS Need a GOOD Buyer Agent|Ask the Broker
November 9th, 2007 Categories: FAQs About Charlotte
Do you need a good Buyer Agent To buy your new Charlotte Home? YES!!!
50% of all new home sales in Charlotte use a Buyer Agent. As the home prices go up, the number increases to 2/3’s… but why do still 1/3 of Charlotte home buyers NOT have a Buyer Agent? Two reasons I think, I think they are under the mistaken impression they can get a better deal if they don’t have an Agent, (thinking the builder is paying less in commission, they’ll naturally give them a better deal) and they probably had a bad A
gent once, and think, rightfully, they are better off without an Agent than if they have a a bad Agent. I understand and can agree with that.
Will a builder offer a buyer a better price because the buyer doesn’t have an Agent? No, twice no. No smart builder will… because agents deliver so many of his buyers and if word got out he was discounting without an agent, all of his business from Agents would dry up, which means his sales will dry up. Smart builders know this. The 2nd reason, the negotiation is a zero sum game, if you win he/she loses, therefore why give up anything, its not like he has to be worried about his relationship with you -like he would with and Agent who might bring future business.
Some buyers think no agent is better than a bad Agent. This may surprise you but I agree. But the solution is not to fly solo, but find a good Buyer Agent, the subject of my next several posts. I’ll give you a hint, if you are looking for one now, you’ve found one. 
Here are two broad criteria I think make sense in what ever market you find yourself-- if your Agent isn’t doing these, find a new one: 1) Are they responsive to your e-mail and phone calls, 24 hour return should be the max– we like to return all calls the same day, up until about 6:00pm- often they are returned within the hour. 2) Do you hear them selling or are they trying to find out what you want and are looking for.
A true Buyer Agent won’t sell you a home, won’t even try to sell you a home. He or she will help you find it, (with the Internet at least 50% of the buyers locate their own home) and if you like it, they’ll put together the offer. In otherwords,there should NEVER be any pressure from your Buyer Agent- just an explanation of the process, and getting the offer going when you say so. As a Buyer Agent, all I am concerned with is my Buyer’s happiness- when they move in, and six months down the line; as to which home they buy, I do not have a dog in that fight. I don’t care as long as it is going to make them happy. The one and only exception to that rule, I’ve never needed it but… I can’t let them buy a dog-even if they did love it!:)
There is more, and I’ll take a look at additional criteria in future posts.
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Terry, That is a great post, and hopefully will be useful for some of the home buyers in Charlotte. It reminds me of another post I read today, but can’t remember what site it was on. It was in regards to what home buyers fear the most. The author suggested that they are afraid of getting a pushy agent who tries to rush them into buying a home, and constantly hounds them until they buy. I try to make sure my buyers know I’m on their side, and on their timetable. Many just need to be educated as to the process of using a buyers agent. If I know any buyers headed for Charlotte, I’ll let them know you are my buyers agent of choice in the Charlotte real estate market.
Hey Terry,
I would have to agree with you, “no agent is better than a bad agent.” However I have a new one for you as well, “no broker is the same as a transactional broker.”
I also feel the same with regards to being a Buyer’s Agent. We cannot sell them a house, only lead, consult, educate and assist in the negotiations. I really enjoy when you can help Buyer’s find the home they are looking for all the while helping them also with good decisions.
Great post filled with good information.
-Chad
Terry - you know I am passionate about this topic. Like us, you are there to consult, negotiate and oversee the transactional details - when the time is right and the house is right. Character is key for a buyer’s agent - a real estate agent who cares more about the buyer than selling a home in Charlotte - that’s why we love working with you!!! - Cyndee Haydon
Terry -
Sound Advice! I hear time and again of buyers who go directly to the builder or listing agent with no representation of their own. Builders don’t give a discount when a buyer flies solo and the listing agent will not save you money. I know I can save a buyer more time, money and stress when they choose my representation.
You have made two really good points about what a buyer’s agent should do. Return their calls (communication) and listen to their needs.
Terry-
This is a great topic. Most people don’t understand the importance of hiring a buyer agent for new construction.
I recently wrote about this same topic on Beltway Ramblings- it’s a post that lives on forever. So I’ll have glad to link back to your article next time I talk about buyer agents.
It’s really so true that buyers get all caught up in the fancy sales office and smiling sales people and don’t understand that they need someone to represent them.
I just wrote another post today about new construction. There is a lot of it going on here in Arlington.
See my post and let me know what you think!
http://beltwayramblings.com/2007/08/21/five-reasons-to-use-a-buyer-agent-when-purchasing-new-construction/
Excellent advice! If only more people would heed it. Many people think that the best agent they can get is the one that is available whenever they have time, and I’ve had many people go to a different agent because they call the day they come into town and I’m already with clients. Whether it be a new build, or an existing home, excellent representation (not sales skills!) is what it’s all about!
Terry - this is a really great topic to bring up. Don’t go it ALONE when you can benefit so much by finding a good buyer’s agent. The more we educate the buyers (and sellers) the better off they are the better service they have the opportunity to experience!
Great post! ~Susie Roscoe~
Terry:
A timely read for any market. Even as a seasoned real estate professional, I would gladly employ the services of a knowledgeable Buyer’s Agent if I were buying outside my market area.
It’s a no-brainer!
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