Do you think that not having an agent saves you money? Do you think that you do not need an agent that you can do it yourself? Read the 6 reasons that can change your opinion.
If you are thinking of buying a house, you suddenly wonder if you need a real estate agent. There are a lot of resources for a buyer these days, such as online search sites to how to buy house guides. But an agent has something that no buyer has – particularly a buyer for the first time – a great experience. An agent will work as a lawyer on your behalf and, in most cases, will get you a better deal than you could have.
The agents have local experience
Real estate agents have knowledge of the property mechanism. For example you can know how to paint a house but who has more knowledge of painting a house you or a painter who does that professionally? You probably do not know exactly how the market is at this moment in your area. If the houses are generally selling at 97 percent of the sale price? If you can wait to compete against multiple offers? Do you know what it takes to win against other buyers? Do you know if you want a one-story house with three rooms and more than one acre, what should you expect to pay? Do you know how the inventory of houses is? Your agent will be able to advise you on these issues. The best way to get an accepted offer at a price that is in your favor is to know the market intimately – and a local real estate agent has this knowledge.
Access to houses
Without a representative, it will be difficult to enter a house. Sellers are happy to let an agent have the code to their safe deposit box to show their house. However, they are not willing to allow a total stranger to have access if authorized to their home. This means that you will have to visit the property when the vendor or agent of the vendor is available, making the house visits take a long time to schedule and more difficult.
Because of this, most people who do not use an agent visit most of the house only when they do open houses, when the house is open where anyone can visit the house, without an appointment. This puts you against strong competition since you are probably not going to be the first person to see this home (a big problem in a tight market like today). In addition to that, the host agent of the open house represents the seller. Any question you have for them about the house will produce answers that have the seller’s best interest at heart, not yours. When you visit a home with your agent, you not only have access and privacy, but you also have an advocate whose fiduciary duty is to take care of your interests.
With an agent, you will have an experienced advocate and a good negotiator. Buying a house is an emotional process. For many people, it is the biggest investment of their life and is often made in other important life changes, such as an expanding family or work relocation. Stress and strong emotions can cloud your decisions – which can cause you to make a decision that you later regret.
The agents, are fixed in a transaction with a more experienced, more rational eye. They can help you understand your options, and serve as a balance against making a hasty decision.
Access to a community of real estate services professionals.
In the course of your transaction, you probably have a lender, an inspector and a real estate attorney. Clients often ask for a personal recommendation, for someone whose personality and style matches theirs. An agent who has worked with many real estate services professionals throughout his career, it is easy for them to find a good fit. But without that knowledge, finding the right provider can be a challenge. Similarly, customers have questions about remodeling for the home. An experienced agent will have recommendations for operators, plumbers, painters, and general contractors – basically, any type of service that needed to fix their new home.
There are no additional costs
Having an agent on the side of the purchase is completely free. People have an idea that they will save money by not using an agent to buy a house. This is not exact. All the commission on the purchase of housing is paid by the seller of the house to the agents (agent of the seller and agent of the buyer).
It is tempting to think that if the seller does not use an agent, your share of the commission may go in your pocket, but this is usually not the case. The commission rate is agreed through a contract before the offer is made, even before the house is on sale.
If you choose not to have legal representation of an agent, then the entire commission for the seller’s agent is paid. The listing agent would have to agree to modify your contract so that you receive part of the commission but this is not very common and unlikely.
How to find the right Agent for you?
Finding a good agent is important. Ultimately, you will want an agent who is well informed, dedicated and has no conflict of interest.