Once you decide you’re in the market for a new home, one of the first decisions you’ll make is whether you should hire a real estate agent to shop for a house or go out your own. While buying a new home without a professional representative is possible, there is no disadvantage to working with one, here’s why.
It Doesn’t Cost You Anything
Generally, the seller pays the commission fees to any agents representing both sides of the sale. From a buyer’s perspective, they really have nothing to lose by working with an agent since they won’t have to pay any out-of-pocket costs.
Additionally, REALTORS® are members of the National Association of REALTORS® (NAR), which means they are bound to adhere to a specific code of ethics. This means you’ll have a representative who has pledged to abide by this code and approach every transaction honestly.
Bring Expertise to the House-Hunting Process
As a buyer, unless you’re fully versed in the finer points associated with real estate purchases, along with a certain level of legal expertise in contractual law, you’re better protected if you work with a professional agent. Agents are well-versed in the most up-to-date information associated with the housing market. Skills trained agents bring to the house-hunting process include:
- Understanding of all the variables associated with real estate purchases.
- Strong familiarity with regions, towns, and specific neighborhoods.
- Ability to instinctively know if and when homes are over or under-priced.
- Access to “pocket listings” not available to the open market or even to a large number of agents.
- Keen ability to pinpoint a home’s potential problems or flaws not visible to the average buyer.
Essentially, working with an experienced and licensed professional means you’ll have someone on your side who can do the bulk of the leg work while helping you find the house of your dreams.
Strong Knowledge in the Bidding Process
Investing in a major purchase, such as a home, usually comes with some stresses, along with a few bumps along the road. Once you reach the negotiation and bidding stage, your agent can ensure these go as smoothly as possible. They bring many valuable attributes to the table when it comes to sealing a deal.
- Ability to share strong negotiation techniques once a house is found (purchase price, closing costs, repairs, etc.).
- Thorough knowledge in appraisals, title searches and inspections.
- Skilled in navigating the burdensome paperwork associated with real estate purchases.
- Able to quickly identify any potential problems that might affect or delay the closing process.
Buying or selling a home can be an emotional process. An agent can make sure negotiations are conducted with a levelheaded approach to make certain a fair deal is made.
In addition to the above reasons, it’s important to remember, your real estate agent is always on your side. They can provide you with both guidance and objectivity as you seek to find your new home.