Brooks & Crowley May 2018

Review Brooks & Crowley

May 2018


439 Washington Street Dedham, MA 02026

*Services Throughout Massachusetts


Right now, the inventory in the Boston area is very low, despite the construction boom. During periods like this, sellers are in the driver’s seat, and many properties are selling above the original asking price. To counter this, some experienced brokers are putting escalation clauses in with their offers. An escalation clause says that the buyers will automatically increase their offer by a certain amount if someone else offers more, up to a dollar limit that the buyer is comfortable with. This keeps buyers from getting too frustrated when they put an offer on a house only to be immediately outbid by another buyer. These are just a few of the reasons why buyer’s agents are essential for anyone looking for a new house. We are always available to recommend an experienced agent, so if you have questions, give us a call, and happy home hunting!

works only for the buyer, that agent is actually paid a commission by the seller at the closing. For example, in a standard transaction with a 5 percent real estate commission, the buyer’s agent gets paid for their work by taking a 2.5 percent commission. So even though the agents represent different parties and have different loyalties, the seller pays for both of them! I can’t imagine why any buyer would not insist on using their own agent without a very good reason. I always recommend that homebuyers contact and hire an agent who works in the area they’re looking in. Using an agent who isn't familiar with the area isn’t an automatic disqualifier, but by hiring a person who knows the neighborhood well, you’ll be working with someone who knows the schools, commute times, and sometimes information that may not be known to the general public. Many local real estate agents have knowledge about a town’s budgetary issues, upcoming property tax overrides for new schools, or even sewer assessments that are on the horizon. This is information that you normally wouldn’t receive from a listing agent.

It's that time of year when people are looking around for a new home, and that process can be extremely stressful. Searching through listings, dealing with lenders, and coordinating any move from one place to another can be a lot to handle. One way to lessen your stress and lower your costs is to hire an experienced real estate agent. We tell people that when they're buying a property, the listing agent’s loyalty is to their seller client. So while they will certainly be helpful to buyers, they have an ethical obligation to obtain the highest price for their client. Using a buyer’s agent means that a buyer will have their own agent looking out for their interests in the transaction. An experienced agent will negotiate the price of a home and work to either have the purchase price lowered, or negotiate a seller credit if anything comes up during the home inspection. Many agents are skillful negotiators who have connections with tradespeople they can contact to determine the cost of repairs. What many people don’t realize is that, although the buyer’s agent

–Steve Brooks


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