Purchase broker - Everything you need to know as a starter

What does a buying agent do?

A buying agent helps you buy a home smart, secure and relaxed. Not as a distant intermediary, but as your professional throughout the buying process. From the first moment of searching to the key transfer. He thinks with you, gives honest advice and takes care of all the arrangements. So you can buy your first home with confidence.

This is what a good buying agent does for you:

1. Smart search and comparison
2. Along to viewings
3. Assessing value and giving advice
4. Negotiating with the selling party
5. Legal control and handling

1. Smart search and comparison

In a tight housing market, it is difficult to find a suitable home. Your buying agent will be with you from the first conversation. He knows the local housing market, knows how other brokers work and switches quickly. As a result, you only see homes that really match your living requirements. Often even before they are listed on Funda.

2. Going along to viewings

During a viewing, you pay attention to atmosphere and feel. Your buying agent looks at the details. He goes along and pays attention to the condition of the house. Think of cracks, missing documents or hidden defects. He remains objective, even if you are already emotionally involved. Is an architectural inspection smart? Your real estate agent knows when it's wise.

3. Assessing value and giving advice

What is a realistic offer? What is the property worth? And what is the selling broker being difficult about? Your buying agent compares the asking price with other homes. He knows what a fair offer is and what makes a good deal. No guesswork, but honest advice based on figures, experience and comparable homes.

4. Negotiate with the selling party

Negotiating is exciting. Especially when you're buying a home for the first time. A good purchase broker will liaise with the selling party and negotiate on your behalf. About the purchase price, the conditions and sometimes also about the completion date. This way you avoid mistakes and increase your chances of a successful purchase. And yes, that often saves a large percentage of the purchase price.

5. Legal control and handling

Is your bid accepted? Then the real work begins. The bill of sale, the purchase contract, the resolutive conditions. Your buying agent checks everything. He goes through the documents with you and explains what you are signing. That way you can be sure that you haven't overlooked anything. And that you can buy your new home without any worries.

Want to know more about exactly what a buying agent does? Read this article on what a buying agent does for you.

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Do you need a buying agent as a starter?

Yes, as a starter, a buying agent is often a smart move. You are buying a house for the first time, and have little experience with the housing market. Everything comes at you: from viewings to negotiations and legal documents. Mistakes are lurking and can be costly.

With a buying agent by your side, you are stronger. You get help every step of the way, so you can be sure you don't miss important things.

As a starter, do you want to make sure you buy your dream home? Then engage homeup as your buying agent. We are the buying agent for starters. For a fixed rate of €2749 you get full guidance, without surprises.

Why is a buying agent smart for first-time buyers?

A buying agent is smart for first-time buyers because, without experience, you can overlook a lot. You don't yet know how the housing market works. Nor do you know how to make a good offer or how to recognize legal risks in a purchase contract. As a starter, you lack experience, but that is precisely what makes guidance so valuable. A purchase broker stands beside you throughout the process.

For these reasons, it is smart as a starter to hire a buying agent:

• Honest advice on what a house is worth and what is better to leave out.
• Strong negotiations so you don't overpay.
• Peace of mind during the search because someone is watching and switching gears with you.
• Clarity on the purchase contract, with no legal surprises.
• Complete relief, from funda to key transfer.

Still unsure if guidance from a buying agent is the right choice for you as a starter? Read the article on whether or not to use a purchase broker. Here you can read what is best suited to your situation as a starter. Or contact homeup directly and buy your first home with confidence.

What are the pros and cons of a buying agent?

A buying agent can bring you many benefits, but it is not always necessary. Whether or not it is smart for you to use a buying agent depends on your experience, situation and budget. In this overview, we list the advantages and disadvantages for you:

Benefits of a buying agent

Unsure if a buying agent is worth it? Here are the main benefits:

• You get expert advice throughout the buying process.
• You avoid paying too much for your home.
• You are stronger during negotiations with the selling broker.
• You get help with the purchase contract and legal documents.
• You avoid mistakes that could cost you money later.
• You save time by taking the arranging work out of your hands.
• You benefit from knowledge of the local housing market.
• You get an objective opinion at viewings.
• You increase your chances of a successful purchase.

Disadvantages of a buying agent

A buying agent also has disadvantages. Look carefully to see if a buying agent is still worth it after these points:

• You pay brokerage fees, on top of other purchase costs.
• Not every buying agent is as good or actively involved.
• Costs vary widely among brokerage firms.
• You partially relinquish control.
• Counseling is not always tax deductible.
• You have to compare critically: the differences between offices are great.

After reading these pros and cons, do you want to hire a buying agent? Engage homeup as a buying agent and get immediate clarity. You'll get expert help with the purchase of your home, for a flat rate of €2749.

To hire a buying agent or not?

Unsure if you need a buying agent? You're not the only one. Many first-time buyers wonder: do you need a buying agent to buy a home? The honest answer? It depends entirely on your situation.

When do you hire a buying agent?

Are you a starter in the housing market? Then hiring a buying agent is often a smart move. You have no experience buying a house yet. You don't know exactly what to look for, what a home is worth or how to make a good offer. In those situations, a buying agent helps you every step of the way. He gives an objective opinion, thinks actively with you and prevents you from making mistakes.

Hiring a buying agent is wise if you:

• Starter and the buying process is still new to you.
• Need honest advice during viewings.
• Don't want to overpay and have difficulty estimating the home value.
• Seeking assistance in negotiations with the selling broker.
• Want certainty about the purchase contract and terms.
• Have little time and want to outsource the arrangement work.
• Don't want to miss out on your dream home in a tight housing market.

In these situations, a buying agent helps you buy smarter. He prevents mistakes, saves you stress and increases the chances of a successful purchase.

When not to use a buying agent?

A buying agent is not always necessary. Have you bought a home before and know exactly what you are doing? Do you know the buying process? Know what to look for and feel confident enough to negotiate yourself? If so, you can do just fine on your own and save costs.

You probably don't need a buying agent if you:

• Have experience buying a home.
• Know the local housing market well and can realistically assess it.
• Be confident in negotiating and remain businesslike.
• Have had legal advice through a notary or specialist.
• Accepts the risks of buying independently to save costs.

Want to read in detail about all the situations when you should or should not use a buying agent? Then read this article on whether or not to use a buying agent so you can make the best choice.

What does a buying agent cost?

A purchase broker costs on average between €3500 and €5000. You pay that amount with traditional brokers who work with brokerage: a percentage of the purchase price, usually around 1.5%. Buying a €400,000 house? Then you quickly pay €6000.

With homeup, it works differently. You pay a flat rate of €2749, no matter what your new home costs. You have no surprises and no extra costs if the purchase doesn't go through. What you do have is full guidance throughout the entire process of your purchase.

What does the cost of a buying agent consist of?

The price varies from broker to broker and from office to office. How much you pay depends on a few factors:

• Type of fee: percentage of purchase price or flat rate.
• Type of broker: digital or traditional.
• What's in the package: counseling, negotiations, legal check.
• Region: in tight housing markets, prices tend to be higher.
• Experience: experienced brokers or offices with good reviews charge more.

Note that some brokerage firms charge start-up fees or fees if you waive the purchase. Check the terms carefully before signing anything.

Want to read more about the cost of a buying agent? Then check out this article on the cost of a buying agent.

Are purchase agent fees deductible?

No. The costs of a buying agent are not tax deductible. They are part of the purchase cost of your home and are therefore not eligible for mortgage interest deduction.

Read this article for a more detailed answer on why buying agent fees are not deductible. Want to know what expenses are deductible when you purchase a home? You can read that in this article on deductible expenses when purchasing a home.

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