Coachella Valley Buyers Agent
WHAT TO LOOK FOR IN YOUR COACHELLA VALLEY AGENT
Something new is taking place at the end of 2024 and forward. Buyers must sign Buyers’ Agent Agreements before they go out to tour properties. These designate the properties you are looking at with your agent, and also how much if any of the buyers agents commission you are willing to pay. Commissions are negotiable. Sellers always used to pay the commission for the buyers agents, but now that commission can be thrown onto the buyer. Buyers agents usually charge 2.5% as your agent. This is their pay for Finding properties, touring with you, running numbers, and most importantly their local expertise, and their negotiation skills in getting you the home you want. Again, everything is negotiable. Sometimes buyers and sellers split the buyers agents’ commission, and sometimes it is negotiated back into the purchase price, and then credited to the buyers agent at close. Closing costs can also cover part of the buyers agent commission as well.
Every buyer is unique, and every Agent is unique. Matching your Agent to your Buyer requires doing your homework, interviewing agents, and listening to your gut. If your friends or family members have used a Realtor recently-ask them! Here are a few quick tips to choose a great buyer’s agent depending on your needs:
First Time Buyer:
The Agent you choose has to be familiar with the area you are interested in purchasing in. They have to understand the steps to pre-approval with regards to your Loan, then be able to show you some properties that match your dream list with your drop dead requirements list. Local Market knowledge for a first timer is critical, and using an Agent that matches your criteria with what you can actually afford is imperative.
Equestrian Property and Land Buyers: You MUST use an experienced, LOCAL, Equestrian when you start looking for Land and Equestrian properties. I have been a local horse owner for over 30 years. One of the things I need to know is “What type of equestrian discipline do you participate in?” Polo, HITS show jumping, pleasure riding, training and teaching, breeding, boarding facility manager. There are so many SPECIFIC questions with regards to land. What is the Zoning, is there water and what sources, fenced, tiled, ingress and egress for rigs. Is the Investment Land you’re looking at suitable for farming, sub-dividing, potential development? Once again, using a local, knowledgeable Realtor will save you time and money!
Investors:
The Investor Buyer is a whole different breed. Normally quite aggressive, they will need an Agent that is quick on their feet, can keep them updated with regards to what is hitting the market NOW. The Agent must be on top of area trends and what is CLOSING. Not just listed homes, but CLOSED properties. This Buyer is also looking for the potential to rent or turn the property so their Realtor has to be familiar with lease comps and repair costs as well. Price/sf is HUGE with Investors. Investors need to know if Short Term Leasing is available at that development, and what that time frame looks like.
Palm Springs Valley, including all the desert cities, is a Resort area..the entire valley is. From Palm Springs proper to Indian Wells, Rancho Mirage, Palm Desert, La Quinta or the rural East Valley, your Agent will be looking mainly for stability.
Aim for a neighborhood that meets your requirements year round, but also has shown a record of consistent prices for the past 12-18 months. Proximity to schools, Senior center, community centers, an active social area..all the things that you want to use when you live in the desert full time. If there are new builds in or near your chosen community, your agent needs to understand what affect if any that will have on your home. Resale VS. New Home and what goes with each, needs to be looked at and understood by the buyer.
Seasonal Residents:
This is where the term “resort” really comes home to roost. The Seasonal Buyers are looking for a property to relax in. Typically, they want to have the amenities on their list match VERY closely. They usually have a pretty good feel for what they need in their winter homes. This means your Agent has to understand home orientation..the actual setting of the home on the lot. That has a huge impact on a seasonal Buyers enjoyment. The seasonal buyer is more specific in what they will purchase. Is it Golf they enjoy? Tennis? Equestrian pursuits? Sunshine all day? Mountain Views? Lake Views? Central location? Quiet location?
Buyers can no longer use their homes as personal piggy banks. A home has reverted back to being “a home”. Plan on owning there for at least 5 years. A certified Realtor, who is LOCAL, and experienced in your area is critical..