With the proliferation of real estate listing services like Zillow and Redfin, some may question the role of a buyer’s agent.

The importance of working with a hyperlocal Realtor when buying a home becomes readily apparent when you realize the kinds of questions buyers ask and look to real estate agents to provide answers.

Is this home overpriced? What’s a good value for a home like this? There are many variations of this question, but basically buyers want to know what online listing services can’t accurately tell them—is a home’s listing price reflective of the true market value? A real estate agent who has worked in the local market, compiled comparative market reports, toured hundreds of homes and negotiated hundreds of deals has the perspective that can help buyers feel that the offer they are presenting is one that will position them well in the long run. Recently we convinced sellers that their listing price of $2,200,00 was not justified by comparables and negotiated a $375,000 reduction for our buyers.

My daughter and I have also been known to talk clients out of buying a home that we believe is not in our clients’ best financial interest and would not deliver them a profit should they try to resell in a couple of years. A good buyer’s agent is not just trying to get a deal done but is trying to help his or her clients make a good long-term investment.

Is this a good neighborhood? Every neighborhood has its selling points (and detractors) from walkability and safety to good schools and property taxes. A good buyer’s agent lives and works in the area and can provide you with an accurate picture of the factors that may be important to you. In Lake Oswego, for example, lake access can be a priority for many homebuyers and knowing which homes have deeded access to an easement and/or the Lake Grove Swim Park can be a deciding factor in determining value.

How can we come out ahead in a competitive offer situation? We’ve had clients beat out as many as 10 other offers so we know what it takes to position our clients strategically. Sometimes that’s price. Sometimes it’s terms. As buyers’ agents we see it as our job to do our best to ensure our clients are in control of the situation and can choose whether or not they want to buy a house after the inspection period.

What kinds of contingencies should we put in our offer? Getting an offer accepted is the first hurdle a buyer faces. Other issues can arise like a low appraisal or costly repairs. A good buyer’s agent will protect a buyer by including appropriate contingencies in the offer so that if issues arise that can’t be negotiated, the buyer can walk away without losing his or her earnest money.

Is this something I should be concerned about in the home inspection? If so, how do we resolve it? Having witnessed hundreds of home inspections, a good buyer’s agent knows the kinds of issues that can come up, which can be negotiated and which may best be taken care of themselves. Knowing the cost of repairs can be a big factor in deciding whether to ask for seller compensation and understanding the additional costs that a buyer needs to factor into the final cost of a home. Working with an experienced agent who can refer you to experts who can provide estimates in a timely manner, ensures that the buyer has all the information he or she needs going forward.

Real estate transactions are complex and buyers’ agents can streamline the process by offering buyers access to a trusted network of service providers from inspectors, contractors, mortgage brokers and title companies. But beyond the transactional nature of buying a home, buyers’ agents are there to safeguard the emotional aspect of riding the homebuying journey. Providing support and guidance as well as hands-on problem-solving, they become true allies in providing a successful and stress-free experience.

Start your homebuying journey by giving one of us a call. We’d love to put our experience to work helping you move into your next or first-time home!

Kevin Costello 503.939.9801 kevin.costello@cascadehassonsir.com
Riley Costello 971.322.6205 riley.costello@cascadehassonsir.com