Buying a home is a stressful process. As a home buyer, you have a ton of things to worry about from getting your offer accepted to closing. Especially, in this seller’s market in Portland, buyers have a hard time competing with other offers. I’ve worked with lots of home buyers in the Portland metro area and it is my joy to help them not only find their perfect home but with all the stressful details and negotiating in the process of actually getting it. There is so much more to being a good real estate buyer’s agent than showing homes and writing offers. You can truly have a winning experience with a competent real estate buyer’s agent representing you through the process. Better yet, hire an agent with attorney background like myself.
Understand the true value of a home
One of the most important aspects of my buyer’s agent service is educating my clients on what the true value of a home really is. When a home hits the market, often it could be either over or below the market value and understanding what the true value of the home is gives a buyer more leverage. In a competitive market like this, it also helps you draw the line so you know when to walk away and how much to bid. Knowing the true value, you will be happier knowing you didn’t overpay for a home. When you work with me to buy a home in the Portland area, I will show you what the true value of a home is before you submit an offer.
Getting your offer accepted in seller’s market
Getting an offer accepted in this seller’s market can be difficult due to competition. Most buyers do not want to get involved in a bidding war but sometimes still get into one. Often when there are enough offers being submitted on the same house, the listing agent sets an offer deadline without telling buyer’s agents what the other offers look like. That’s when buyers feel insecure and put in offers to beat others. Eventually, the price is a very strong factor in getting your offer accepted but there are other factors that are important as well in your offer. The home may not even appraise enough for the selling price, which is required to get a mortgage. Sometimes, losing is winning. Read my article on how to win a home bidding war in Portland.
A competent realtor who fights for the absolute best chance in your case can prepare an offer that will stand out among other offers. I always discuss with my buyer clients and come up with the best strategy in getting their offer accepted. I find out what’s important to sellers and offer as much flexibility accommodating the seller. An emotional touch on a cover letter can also go a long way. I communicate with listing agents to see what the best offer should look like. Home buyers are also too busy with their jobs on weekdays so having a buyer’s agent can really help to get things done.
As a homeowner myself, I have done a lot of work fixing up my own house. Although I am not an inspector nor an expert, I can point out some obvious defects in older homes. This will be helpful especially for first-time home buyers. Most homes in Portland are older and there are certain things to look for to make sure the house does not have obvious issues that will be costly to fix. They include things like slanting floors, water damage, cosmetic issues, cracks on walls, and more. I can also provide insight on how to renovate a home to increase its value.
Hire a former attorney on your side to represent you
In a real estate transaction, it is very important to have a competent professional representing you for due diligence, and negotiation. Clients need someone who can guide them through the transaction and educate them on what legal consequences of the process are. Moreover, performing due diligence within deadlines is critical so you don’t end up waiving important rights as a buyer and the contract is carried out properly all the way to closing until receiving the key to your new house. Due diligence is about details and diligent coordination to investigate facts within the deadline to protect yourself as a buyer from foreseeable consequences that can be adverse to your interest. Many real estate agents can talk the talk but when it comes to details, they often have difficult times. I excel in details and negotiation with my former attorney background. I also understand real estate law and contract law to empower me through the negotiation process. I am a licensed attorney in Oregon although I don’t practice law anymore. As a full-time realtor, I offer my legal experience in every transaction for my clients. Most people find this helpful as this is an extra layer of service I can provide for my clients.
It is also important that a buyer’s agent is available for clients for showing properties without putting pressure into buying a home. Clients are ready when they are ready and my job is simply helping them get there when they are ready. I put my client’s best interest first. However, when they are ready, I make sure my clients are ready for the action starting with a mortgage pre-approval. I work restlessly to make sure we put our best foot forward under an extreme time pressure.
Not familiar with the home buying process? Read the full Home Buying Process Outline here.
Cost to hire a buyer’s agent
After all, it doesn’t cost buyers anything to hire a buyer’s agent. Our commission is already offered by the seller to be split with the listing agent. If you don’t hire a buyer’s agent, the 100% of the commission will be kept by the seller’s agent while you will receive a dual representation as a buyer from the agent that originally represents the seller. Do you think you can receive a fair representation as a buyer? Think again if you believe you can save money by not hiring a buyer’s agent. You don’t get that commission back as a buyer because listing agreements obligate sellers to pay out full agreed commission whether it’s split or not.
|Buyer’s Agent Scope and Summary of Services||Why Hire Peter Park?|
|– Introduction & Understanding your needs
– Mortgage Pre-approval
– Sending you MLS listings
– Acquiring more information on homes
– Property Showings
– Escrow Deposit
– Inspection Due diligence
– Preliminary Title Report Review
– Inspection Negotiation
– Lender Related Follow-Ups
– Modifications if any through Addenda
|– Diligent and prompt communication
– Former practicing attorney
– Knowledgeable in contract law & property law
– Protect your rights as a home buyer
– Expertise in real estate transaction
– Does not wait till tomorrow
– Great negotiation skills
– Free service to home buyers
Email is usually the best way to contact me!