Use a local Charlottesville Buyers Agent

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When looking to buy a home in Charlottesville, or any area for that matter, logic dictates that you use a highly skilled local Charlottesville buyers agent. However, I see so many people go against this logic. So let’s look at why.

A Local Charlottesville Buyers Agent Knows The Market

This just makes good sense. Most Buyers Agents specialize in a particular location. We know the Charlottesville Real Estate market because we are passionate about local real estate.

If I were to consider buying a home in Fairfax County, I would find a qualified buyers agent in that area. They know the market, they know the schools and they know the price points of neighborhoods.

Even though I know my market and I am a Charlottesville real estate broker, this does not qualify me to represent a buyer 3 or 4 counties away.

Charlottesville Buyers Agent, Charlottesville Realtor, Charlottesville Real Estate

Let’s Look At Local Numbers

Pulling data today, Dec 12, 2011. From our local mls CAAR  There were 349 transactions for 2011 Year to date that used an agent outside the area. This is a total of over $84 million dollars in transactions.

I am a numbers guy and my wife says I look at too many numbers, but let’s play a little numbers game.

Let’s say that a qualified Charlottesville buyers agent represented these transactions and conservatively saved the buyers 5% on these deals.
That is a savings of $4.2 million dollars!

Now I looked at Wikipedia Buyers Agent and they say that a buyers agent will save around 2% vs my example above. That is still a savings of $1,680,000. But I can tell you that I am being conservative at 5%, at least with my buyers in our area. Most Buyers Agents specialize in a particular location.

Aunt Mary Is An Agent In The State

This is critical. If you are using Uncle Ralph or Aunt Mary because they are agents and family members, you are making a critical mistake. Ask them to help you find a local Charlottesville VA Buyers agent in the area where you are looking that works for buyers.

They will likely get a referral fee and this is fine, but it will save you time, frustration and money in the long run.

Finding A Local Charlottesville Buyers Agent

Agent Handshake

Referrals are best. Ask friends, co-workers and agents for a local buyers agent. I see a lot of agents get designations that say they are buyers agents (I did it when I first started in real estate too).

To get these designations, an agent takes a class or two and pays annual dues to be able to “advertise” that they are a Charlottesville buyers agent. It is best to find an agent that actually represents buyers and not one that just says they do.

A True Charlottesville Buyers Agent

A true Charlottesville buyers agent will not try to sell you a home. They represent “you” not a listing or any one home. They will help you find the perfect home for you. If you find that the agent you are working with is trying to sell you their listing(s) then you need to have a serious discussion with them about buyer representation.

 

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Comments

  1. Great article! I really like the concept that a buyers agent doesn’t sell, they represent. For me, as a buyers agent, I look at every house as if “I” were going to buy it. I then give my clients all the information that I can get and they make the decision. More often then not, the perfect home has flaws. That is okay, as long as the buyers know what the flaws are and truly know what they are buying.

  2. Stephen
    That is exactly what being a buyers agent is all about. Representation of the buyer, not the seller!
    Thanks for stopping by our blog

  3. Becky Reid says:

    Great article! Keeping transactions local supports our area economy. From my perspective, it is important to have thriving local Realtors. They are often the cornerstone of networking groups and feed so many businesses, from contractors to retail stores.

  4. Becky, you are so right and this is why people should remember to use a local agent. Good common sense!

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Charles McDonaldBy Charles McDonald - Charles, and his firm, Charlottesville Real Estate Solutions, are known locally and around the world for helping people move in and out of the Charlottesville area. His background (running his own engineering firm for 20+ years in the Silicon Valley) has given him the skills to not only develop this site but also to manage a stellar group of agents!
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