Lots of people consider themselves do-it-yourself kind of folks. With a little time researching the internet and a few chats with friends, these people feel they can tackle almost any project. However, for the majority of potential homeowners, it is still a good idea to use a real estate agent when buying a home. Listed below are the top reasons why you should use a Realtor to buy a house.
Contracts are Complicated
The purpose of a purchase contract is twofold. First, it commits the buyer and seller to a particular price and particular date to complete the transaction. Secondly, it provides an exit strategy for the buyer in the event something goes wrong.
For example, the real estate agent could write the contract with a clause stating that the buyer has the option to exit the contract if a home inspection finds the presence of termites. Without this clause, the buyer would be bound to purchase the property knowing that an insect exterminator would be needed and that the buyer would have to pay this extra cost.
Access to More Properties
Real estate agents work as a broker between home sellers and buyers. The agents, due to their license to sell, have access to homes listed by other agents. This access allows the agent to perform multiple searches using a wide range of criteria. While some websites offer access to homes for sale, they don’t always have the most current information, they show listings that are actually not for sale and they also do not have the vast array of search filters to use.
Furthermore, the agents can arrange a home visit for the buyers. This saves the buyer time and energy since they simply have to ask for the visit and then show up at the appointed time.
Negotiating is Their Main Business
Agents can also negotiate details about the sale better than buyers and sellers. Sellers are often wrapped up in a home emotionally. The paint choices, the existing floor covering and the layout of the home may have some significant meaning to them. However, a truly interested buyer may dislike the majority of the décor and wish to lower the price to make room for renovations.
If the buyer and seller were to discuss these items, the seller may get upset or even angry and decide to cancel the transaction. However, with a real estate agent involved, the agent can work behind the scenes to present these concerns and come to a mutually agreeable solution.
The Agent is Working FOR the Buyer
Many buyers don’t realize this, but the agent that is working to sell a home is not committed first and foremost to the buyer. Instead, and rightfully so, the agent is committed to the person selling the home. The agent wants to get the seller as much as possible for the asking price in order to properly serve their client.
This is why a buyer should have their own agent. This allows the buyer to trust their agent to seek out the right property with the correct features in their price range without being bound to another client. The agent can weed out properties that don’t fit with their needs and also try to haggle in the case that a home is slightly overpriced.
Both Parties Are Not Able to Cut their Costs
Sellers that try to sell their home without an agent envision getting a full offer price without paying a commission to an agent. This means that they save money by not paying for the services of a real estate agent. However, if the seller is using recent home sales to base their price, they may forget that most of those homes were sold with the help of an agent. So, their asking price is a bit high.
Furthermore, a buyer may try to negotiate the price down on a property that is for sale by owner. This means that the seller had to ask a smaller price because they are not using an agent and the buyer is trying to negotiate it down even further. This will lead to both parties being unhappy.
Final Thoughts On Should I Use a Realtor to Buy a House?
While it is possible to buy a property without using a real estate agent, most people would agree that having the services of a licensed agent can make the transaction much smoother in the long run.
Additional Home Buying Resources:
The Home Buying Process Explained via RealtyTimes
Mortgage Options For First Time Home Buyers via Anita Clark
Top Home Buyer’s Remorse Articles via Listly
Facts Home Buyer’s Don’t Know via Michelle Gibson
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