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home buying process
Why work with a buyer agent
A buyer’s agent works for you throughout every step of the home buying process. A seller’s agent works for the seller.
Explore just how much more a buyer’s agent can do for you through the link below!
home buyer timeline
01. Choose an agent
Select a sales associate to act as your buyer’s agent. They will walk you through the buying process and assist with the required documents.
02. Get pre-approved
Your mortgage lender will assess your income and credit history to ascertain the loan amount for which you qualify.
03. HOME SEARCH
After setting a budget, your buyer’s agent will present available properties, market trends, and introduce you to the community.
Don’t get lost in the market, check out the rest of the timeline below to make sure you stay on track!
home selling process
Houlihan Lawrence has been the trusted real estate leader in New York City’s northern suburbs for over 135 years. Our elite team of experts rise to any challenge to deliver exceptional results for our clients. We understand your objectives and have honed our services to go beyond expectations.
01. PRE-LISTING CONSULTATION
The selling process begins with a meeting where the agent assesses the seller’s motivation, needs, and goals. They discuss timelines and any specific concerns to tailor a personalized selling strategy.
02. MARKET ANALYSIS AND PRICING STRATEGY
A seller’s agent determines the best price for a property by analyzing the market, comparing similar homes, studying trends, and assessing unique property features. Strategic pricing attracts buyers and maximizes the seller’s profit.
03. HOME STAGING AND PRESENTATION
The seller’s agent advises on how to best present the property, recommending repairs, decluttering, and staging with furniture and decor. A well-presented home attracts more buyers and can lead to a higher sale price.
Don’t feel overwhelmed by the process of selling your home. Follow our guide to lead you though the process!
Now let's sell that house!
Cooperative compensation
The sale of your home is a big decision, emotionally and financially. In addition to thinking about your real estate goals, you may be hearing news stories about big changes in the real estate industry. At Houlihan Lawrence, our mission is to help you move confidently, we’d like to talk about what this news means for you.
Buyer agent compensation and your home marketing plan
Currently, when listing their homes, many sellers in our market pay compensation to their listing broker which can include buyer’s agent compensation. This is known as “cooperative compensation.” The amount of buyer agent compensation you offer, if any, is your decision.
This is one of many elements of the overall marketing strategy that you and your agent will discusss as you plan the sale of your home, such as the pricing, timing of when the listing is active, staging, photography, broker promotion, digital advertising and open house schedule. Laura will offer insight and expertise to help you achieve your goals.
Answering some of your questions
Offering compensation to the buyer's agent means that the home will appeal to the broadest possible group of buyers, giving you the greatest opportunity to maximize your return. Some buyers only consider properties with buyer compensation offered in order to manage their closing costs. Under most circumstances, buyer's agent compensation cannot be financed, so buyers would need to have those funds at closing which may limit them from considering your home as an option.
Yes, sellers can still offer cooperative compensation to the buyer's agent. Sellers can also offer financial concessions to buyers that can be used for a variety of expenses, which may include buyer agent compensation.
Houlihan Lawrence agents will continue to publish cooperative compensation on its own marketing materials including company website, flyers, social media posts, direct mailings, and more. The only change, happening nationwide as a result of the NAR settlement, is that effective August 8, 2024 cooperative compensation can no longer be offered/included in MLS remarks.
Yes. When making a purchase offer, a potential buyer may include the terms of the offer like the purchase price, closing time frame, and any contingencies. They may also request buyer agent compensation and financial concessions or credits from the seller. Your Houlihan Lawrence agent will follow your instructions to present offers to you with all relevant information. You will be able to compare all offers and make the decision that is best for you.
Many listing agents choose not to represent a buyer in the same transaction so that they can be fully committed to the interests of their sellers. Your agent will talk to you about dual agency and what this means for your representation. If a buyer requests representation, and your agent is considering this, you will have the choice about how to proceed.
We will continue to market your home to attract the largest buyer pool and achieve your goals. Our Listing Agreement remains in place so that we can sell your home. Your agent and the professional staff of Houlihan Lawrence will provide the same outstanding service to get you to the closing table.
See all the info on Cooperative Compensation here!