3 Reasons to Hire a Buyer’s Agent

buyer agentDid you know that when you contact random real estate agents they are “not” working for you? While  they may be friendly and accommodating, they do not have your best interest in mind. Until you sign a contract with a real estate brokerage firm you are an unrepresented buyer. While there is no requirement that you engage a professional to represent you in the purchase of a property you may get weary of not having “one” real estate agent as your fiduciary, someone to put your interests first. Here are three reasons to hire a Buyer’s Agent:

1.     You need a Navigator. A Buyer’s Agent will help you navigate the online sites to organize your search for housing that meets your needs. If you’ve been using websites to look for houses then you know that properties “pop up” that look interesting and then they disappear. What happened? Which sites should you use? Which are the most reliable?

2.     You need an Insider. A Buyer’s Agent will be able to set up a showing quickly and get you any additional information that you request. Trying to get hold of real estate agents is frustrating. If you don’t have a Buyer’s Agent you will need to contact several different agents and wait for them to call you back to set up a showing. Many buyers have requested private tours on websites and have never received any response.

3.     You need a Negotiator. A Buyer’s Agent will negotiate on your behalf. Your Buyer’s Agent is on “your side.” If you are unfamiliar with the current trends in submitting offers, contingencies, and other details you will have no one to guide you through the process.

If you are serious about buying then you should hire a Buyer’s Agent to move you forward in the process. Many of our clients wish they were working with us earlier in the process after they discover the benefits of hiring us to facilitate their purchase.

If you are frustrated searching for homes on your own, get in touch with us for more information on becoming a Buyer Client.

Rising Rates & Our Local Market

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How do interest rates impact our local Vermont real estate market? Good question considering that rates have jumped from 3% to 6% over the last few months!

Here are 3 insights about our local market based on our many years of experience in “all” market conditions:

1.     Buyers will adjust to the current mortgage rate. The most important factor for buyers is their “monthly payment” and their comfort level with that amount. We often hear, “I don’t want to be ‘house poor’” meaning that they want to be able to pay their mortgage and have discretionary funds. This may mean that they readjust their “purchase price” down to suit their household budget.

2.     Sellers may have fewer qualified buyers depending on their list price. We have seen more “cash buyers” over the last few years however we predict the new buyer pool will seek mortgage loans. This means that there will be fewer cash buyers in the market. Some properties will be impacted more than others.

3.     In any market there will always be people who need to sell and people who need to buy. Our local real estate market is driven by life circumstances rather than speculation. This means that our market will remain more stable than other parts of the country.

 Making the decision to buy or sell is always stressful and wrought with questions. If you want more information about the current market and how it applies to your situation reach out to see how we can help you!

Where Have All The Vermont Houses Gone?

Essex neighborhoodVermont is small, our population hovers around 620,000. Yes, that’s the whole state – men, women, children. We have never had a housing “boom” like other states. Demand for housing has outstripped our supply over the last few years. In certain price ranges there are perhaps 40 – 50 buyers looking at the same house.

The housing shortage in Vermont is ongoing. History, regulation, geography, topography, economics, etc. all play a role in the current state of our housing stock. Even in a “normal” year people have a difficult time finding a house. In the not-so-distant past buyers could find 10 houses that would be on their list of potential abodes. Now, there are none. Zip. Zero. Nada. Or, okay, maybe one – but there are 20 showings and all contracts need to be submitted within 72 hours. This causes a frenzy. Houses are popping up on the internet and disappearing – all within a day.

Discouraging? Sure. Now the good news. We have, so far, helped all of our buyers find a home. Through it all — the shortage, the bidding wars, the crazy rush to get in – we have guided our clients through the process.

We are here for you too! Contact us to help you find and close on your new home.

Pandemic Precautions in Real Estate: Video Touring, Vetting, and Sanitizing

pexels-photo-3769717We get it. We fear germs and viruses just like all of you. Federal, local, and town governments have cautioned us to stay home and practice social distancing. We want to do our part as responsible citizens so we, too, are working from home.

The Weaver Team has implemented the following business practices since we started and they are more relevant than ever. Videos, Vetting Buyers, and Sanitation is truly “business as usual” for us.

Videos – We have been proponents of video for several years. Subscribe to our YouTube Channel to view our past listings and the video tours.

Vetting Buyers – We set up all showings and always fully vet buyers and buyers agents prior to setting up showings. This protects Sellers from unnecessary showings. Some agents rely on Showing Time and other services and they have no knowledge of the buyers.

Sanitation Measures – In our daily real estate practice we are conscious of germs, viruses, and bacteria every day, no matter what the season. We carry hand sanitizer, wipes, Lysol, booties, and gloves in our vehicles that we share with buyers when showing houses. As we face a virus that we haven’t tackled before, COVID-19, coronavirus, we are adding a basket of sanitation supplies at our listings for everyone’s protection. Buyers and their agents are encouraged to wear booties and now, gloves during showings.

If you want to sell or buy during this time reach out for more information on our safety measures.

5  Inconvenient Truths About Finding a Good Real Estate Agent

Finding a good real estate agent may not be as easy as searching Google or Yelp, read on to learn why you can’t believe everything you see on the Internet when it comes to real estate.

Screen Shot 2017-10-19 at 1.05.40 PM1.     The “Premiere Agent” on Zillow has paid to be in that #1 position. Many agents pay third party search engines to pop up at the top of the list of real estate agents in your area. This truth extends to Realtor.com, Trulia.com and Yelp.com. Many times, your top local real estate experts who provide exceptional service and results stay in business through repeat clients, past client referrals, and general “word-of-mouth” networks. Ask your colleagues, friends and family who they recommend before jumping on the internet to look for an agent.

2.     All “public” websites that provide house searches include “for sale by owner” properties. Many buyers are thrown off guard when they find out that the house listed on Realtor.com and other real estate websites may not necessarily be offered through a real estate agency. Buyer beware as dealing directly with the owner may result in a “lopsided” transaction where the buyer is not aware of traditional real estate practices in their local area and many times is at a disadvantage dealing with the seller.

Screen Shot 2017-10-19 at 1.34.09 PM3.     Internet sites that promote “We will match you with a Top Agent” usually send your information to several agents that have signed up for that websites services. These agents scramble to be the “first” to contact you and the agents pay a hefty “finder” fee to the service.

4.     Reviews may not tell the whole story about an agent. While it’s interesting to read the 5 star reviews, sometimes when you see a “plethora” of them you may need to ask “Why are there so many reviews for this one agent?” There are no rules or regulations governing the procurement of these reviews from previous customers. Let that sink in.

5.     Sometimes your “marquee agents” burn and churn their clients. Again, the agents that pay to show up on searches may not be the type of agent that you are looking for. Many so-called “top” producing agents are working with multiple agents on their team who are doing most of the work with the buyers and sellers. You may not have access to the “top agent” at all.