Your buyer’s agent must have some fairly high skill levels in negotiating. It takes years and a lot of hard work to develop those skills as uniquely needed in the real estate industry.
If you want your buyer’s agent to negotiate like a professional and get the best price and the best terms while protecting you throughout the due diligence process, you must be able to answer yes to all of the following questions:
Does he have a solid understanding of the local real estate market and values?
Does he have years of experience working with builders and contractors (or the equivalent) in order to judge the value of materials used in a home as well as the quality of craftsmanship?
Does he have an ability to recognize potential defects in foundations, garage concrete floors, electric panels, flooring, kitchen countertops, appliances, HVAC systems, property drainage, private wells, septic tanks and drain fields, irrigation systems, roofing materials, and siding?
Does he have a knowledge of legal language in covenants, easements, and contract language?
Does he have an ability to properly deal with contingencies?
Does he have negotiating skills on price and terms acquired over decades (not a few years)?
Does he have the experience to deal with a large number of objections?
Does he have an understanding of human behavior and motivation?
Does he know how to customize the negotiating tactics for a unique buyer or seller (what works for one will not necessarily work for everyone else)?
Does he have the knowledge and experience to accomplish the necessary due diligence?
A great buyer’s agent doesn’t cost you anything, because he gets paid half the commission from the listing side, but a great buyer’s agent is worth his weight in gold to you.
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