As the Washington metro area housing market remains one of the strongest in the nation, potential buyers are facing fierce competition with multiple offers for a single property increasingly becoming the new norm with very low available inventory. When a buyer finds a property they want to purchase, they need to have everything in order and at the ready to move quickly to present a competitive and attractive offer to increase their chance of success.
Having professional representation is critical for buyers, who are making what is probably the biggest purchase they will ever undertake. It doesn’t “cost extra” and buyers will know that the person showing them properties has their best interests in mind.
The concept of buyer’s agency was instituted in the 1980s, in response to a recurring misconception of buyers that the real estate agent who was showing the properties was representing them, when in fact, the agents were being paid by the seller and representing the seller. Washington, D.C. was one of the first jurisdictions around the country to institute buyer’s agency, where buyers could opt for buyer representation, and Maryland and Virginia soon followed suit.
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