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For the MVA, NVM Realtor Gaby Balkema wrote a guest blog on why it is wise to hire a buying agent.
Gaby: "I have been working as a real estate agent/appraiser for 25 years now, and I am increasingly concerned about how people buy houses these days. More and more I see that buyers have to decide within a few days whether to make an offer. Dozens of people are mostly coveting that one house, emotions run high and rose-colored glasses go on. A thorough investigation? That is often not even considered.
Sometimes a purchasing agent is quickly flown in at the last minute to "just make the winning bid." Others find an agent too expensive or do not see the added value. But buying a home is not an impulse purchase. It is not about a bottle of wine or a bunch of flowers, but about the biggest financial decision of your life. Then you don't want to take a gamble, do you?"
My background: 25 years of experience and knowledge transfer
In all the years I have been in business, I have seen many transactions pass by and guided countless buyers. My mission has always remained the same: to keep people from making mistakes and ensure that they buy their homes with confidence and security.
I not only gained this experience in practice, but also translated it into knowledge transfer. In 2016, I wrote the book "Buying a House, so done!" in which I explain in 18 clear steps how to buy a house responsibly and in a structured way. This book has proven to be a guide for many home buyers.
In addition, I teach courses to purchase brokers and have developed training programs that enable colleagues to guide their clients even better. What I learn and experience, I turn into practical and directly applicable tools - so that both brokers and consumers go through the buying process safer and smarter.
The pressure on the housing market
The facts don't lie. An average house in greater Amsterdam now costs more than 6 tons. About 80% of the houses are sold above the asking price. And often you have to make an offer within a few days.
But how do you determine what a property is really worth? What should you pay attention to? And is it still responsible to bid without reservation, just to be able to participate? Without expert advice, these are big risks.
The role of a buying agent
Many people think that a buying agent is there primarily to get quick access to housing offers. As far as I'm concerned, the least relevant argument. After all, finding a home is not the hardest part.
A buying agent makes the real difference by investigating whether the house really suits you. Not only in terms of budget, but also in terms of future plans, neighborhood, amenities, safety, structural condition, layout and comfort.
A good buying agent will completely take over that research duty from you. He looks objectively, asks through, and makes sure you're not blinded by emotion. Think of it as a thorough but approachable way to take the right step toward housing happiness.
In short: maximum risk reduction, with minimum cost.
The benefits of an MVA buying agent
If you choose an MVA buying agent, then you know you are working with a professional who meets strict requirements:
- Possesses local knowledge and years of experience.
- Has access to extensive data and analysis tools.
- Is qualified and registered in the real estate register.
- Attends continuing education to always stay up-to-date.
- Is insured for professional and business liability.
- Falls under disciplinary laws and operates under a code of conduct.
- Is independent and objective.
- Has an extensive network of colleagues and specialists. You get answers to your questions
- Is familiar with Amsterdam specifics such as ground lease, foundation issues and housing rules.
- Also has knowledge o.g. preservation and remodeling.
In short, you gain security, protection and access to knowledge that you simply do not have yourself.
"But a buying agent is expensive, right?"
I hear that a lot. But let's face it: what is expensive compared to the risks of making the wrong purchase?
A full-service purchase process quickly costs a buying agent 40 to 60 hours of work. During that time, everything is checked: from legal documents and structural condition to ground lease terms and zoning plans. Did you know that buying an apartment often requires more than 100 checks to identify all the risks?
There are also more and more opportunities for partial services on an hourly basis. Useful if you already have more experience or lack certain knowledge. This way, you only pay for what you really need.
What goes wrong now
What bothers me is that consumers often have to make decisions under enormous pressure. Selling under high time pressure may work for some brokers and sellers, but not for buyers who are betting their savings and future.
Leaving out resolutive conditions - such as a financing condition - just to be competitive feels to me like driving a car without a seat belt. It usually goes well, until one time it goes wrong.
In corporate brokerage, this is much better regulated. There, after signing a letter of intent, a buyer is often given weeks to go through everything. In the private market, why do we accept that you have to decide on six tons of investment within three days?
Time for change
With the election approaching, it would be good to legislate that buyers be given sufficient time to do research. And why not immediately regulate the tax deductibility of the buying agent and reintroduce the protected title "real estate agent"? That would lower the threshold, increase transparency and protect more buyers.
Conclusion: take no chances
Buying a house is something you probably only do a few times in your life. The financial and emotional impact is enormous. It cannot - and should not - be done without solid guidance.
In 25 years of being a real estate agent, I have learned that knowledge and preparation make the difference between a worry-free purchase and a nightmare. That's why I share my experience through my book, courses and blogs - but most importantly in counseling my clients.
A purchase broker helps you through all the pitfalls. He or she makes sure you buy with confidence, on the right terms, and without any nasty surprises afterwards.
Are you about to buy a house?
Don't be rushed. Engage an MVA real estate agent for the purchase of your dream home. And allow yourself peace of mind, security and a worry-free purchase.
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About this blogger
Gaby Balkema RM RT is an inspired real estate agent with 25 years of experience and owner of real estate agency At home in real estate in Amsterdam. In addition to his daily practice, he is active as a writer, administrator and teacher. With his broad knowledge and passion for the profession, he helps both consumers and professionals enter the real estate market with confidence.