Should you use a Realtor® when buying your first Frisco TX home?
Your Frisco TX Realtor® who represents you in your real estate transaction is more than just a “salesperson” to you. He/She becomes your trusted advisor and confidant in one of your most expensive purchases.
In a real estate transaction, there are typically 2 agents.
The listing agent represents the Seller and the buyer’s agent represents you – the first time home buyer.
Representation is voluntary. However, if you are surfing the internet on the MLS, chances are very strong that the Seller had already armed himself/ herself with a listing agent to represent his/ her interests in selling the property. If that is true, why would you not want representation in your transaction?
Read also, Texas Real Estate Information about Brokerage Services.
Why Real Estate Representation?
There are some serious considerations when considering hiring a buyer’s agent to represent you in your first time home purchase.
(1) Real Estate is a complex transaction
Unless you are very familiar with real estate transactions and Texas real estate law, working with a real estate agent can help make your home buying process more pleasant and less stressful.
Buyer’s Representation agreement
In a Buyer’s Representation agreement, it discusses:
- Duties of each party (the agent and the buyer client)
- Time frame for which the buyer’s agency representation relationship lasts
- Start and End date
Anything that you share with your buyer’s agent should remain confidential unless your agent specifically seek your permission to share the information with the Sellers to help assist you in your transaction.
In my experience, when Sellers are present, or Buyers are present, they constantly unconsciously volunteer information that could potentially set themselves back in a real estate negotiation. A smart real estate agent can pick up on things while buyers and sellers only think they are having a “friendly” conversation.
Also, buyers and sellers hone on the sales price in a real estate transaction. However, terms of the transaction could also potentially affect the transaction. If a listing agent is there to protect the Seller’s interests to specific datelines and performances of the contract, your buyer’s agent should represent your interests also.
(2) Your Frisco TX Realtor® should be non-emotional third-party to the transaction
During the home buying process, emotions run high for first-time home buyers. Likewise for home sellers also. Hence, having third-party, non-emotional real estate agents can help focus you back to your first-time home buying goals.
As an example: During a multiple offer situation, as humans, we naturally want to win. Also, when we know that there are many interests in the property, it could make a buyer lose sight during the quest of winning the multiple offer negotiation. It is almost guaranteed that a buyer more emotional than he/she should be. If you have shared your initial goals with your buyer’s agent, the agent can help stir you back and give you objective guidance in which way you should or should not act.
(3) Your Frisco TX Realtor® can represent you in new home sales too
It is often mis-informed that real estate buyer agency is not needed in new home sales. You could go into the transaction un-represented. However, is that in your best interests though? The salesperson that sits in the model homes are sale people hired by the builder to sell homes. They represent the builder’s/ seller’s interests. So, should your interests be represented as well?
(4) Knowing what to expect
An experienced real estate agent can share with you what are “expected” in a real estate transaction so you know what to expect. Even before you write an offer, the experienced agent can share with you if your budget would suit the locations you are interested in.
As examples, a Seller comes back to counter on your earnest money amount, or a Seller comes back to counter on your buyer’s financing approval, having someone to watch your interests as well as knowing what is common in the industry can help you feel more comfortable when stepping on unchartered territories.
An experienced real estate agent is worth his/ her weight in gold. Working with someone who would protect your interests and minimize a roller coaster of emotions that you are about to endure.
3:16 team REALTY represents first time home buyers in Frisco TX and surrounding areas. Call today to see how 3:16 team REALTY can specifically help you in your unique situation.
(214) 783-2210
Satisfied client testimonials:
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Mariana & Michael Lombard, First time home buyer in The Colony, Texas “I worked with Loreena long enough to know that she is a professional who knows what she is doing. She gave us great advice on how to choose our first home. She kept in touch and on top of things all the time, she made our home buying process a lot easier. She is great to work with and I would highly recommend her to my friends.” |
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Jag & Aarathi Periasamy, First time home buyer in Allen Texas “My wife and I, found Loreena through her blog. Her thoughts on home affordability, sensible home financing strategies, thorough market analysis and contract negotiations, made us avid readers and faithful followers of her blog. So when it was time to find our first home, she was the obvious choice to represent us as our Realtor. From the very first meeting, Loreena has always been the professional, always punctual, prepared and efficient. Being first time home buyers, we are ever grateful for her helpful insights about home financing and handling our first major debt – the mortgage – with extra emphasis on how to get debt free as soon as possible. She helped us find a home most suited to our needs, expertly negotiated our contract and helped us buy our dream home. I would definitely recommend Loreena for all your real estate needs!” |
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Part 5: Tools You Need to set yourself up for real estate success |
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Part 7: Real estate contract is a legal binding contract |
Map of Frisco Texas
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3:16 team REALTY is a locally-owned real estate company serving Frisco
TX and the surrounding cities. Find out
(214) 783-2210
info (at)
316RealEstate.com
Loreena Yeo is the broker of record of 