Acquiring a roof over your head can be a vital event in your whole life. You need to spend a great amount of your money to purchase a well-constructed property. Making a small mistake through this process can lead to irrecoverable upshots, but we are not here to intimidate you. A real estate agent can save you and your money.
It is highly likely that you are buying a house in an area of which you do now know well. You are a newcomer to that space. The majority of the houses for sale in an area have been registered for sale in real estate agencies. You need to pay them a visit, simply because they know the area as excellently as their own house. They can offer information that regular people in a district, or you, can never have unless you are also an agent.
Who needs an agent when there is the Internet, right?
You clearly need a buyer’s agent when purchasing a property to prevent your money from going with the wind. With the spread of the Internet, one might ask why we should talk to a real estate agent when buying a house. We can use the Internet to find out literally anything we need, but be patient; we are going to list for you many reasons why real estate agents can save you and your thousands of dollars when making one of your life’s greatest transactions.
A realtor will make sure you spend your money on a house that certainly meets your needs, your expectations, and your budget. In some cases, the sellers have an agent who works for them and tries to sell you the house, as expensively as possible. That is why you need a real estate agent on your side to assist you through all the complexities of negotiations and signing the contract, for example.
Anyway, in this article, we are intending to give you the most important reasons why you truly need a real estate agent when buying a house. See the index below first:
- A real estate agent can see flaws, can you?
- Realtors know the market like the back of their hand.
- The real estate agents know the related contracts.
- A real estate agent negotiates on your behalf.
- You will not pay a penny to use an agent’s experience.
- A real estate agent will coordinate the showings well.
- Your real estate agent prevents the transaction procrastination.
- Bonus: Under what conditions can I purchase a property “without” a real estate agent?
1. A real estate agent can see flaws, can you?
I do not know where you work, but chances are you are a pro in your job. This is true about real estate agents too, and about any other person who has worked for many years in a field.
Real estate agents know what to look for when investigating a new property. You can never be as proficient as a real estate agent in the scope of intelligently detecting the defects in an apartment or building. If you need a sharp-eyed, attentive specialist when spending your thousands of precious dollars on buying a property, then you are unquestionably going to pick a realtor who can put you on the right track.
Realtors are every week, if not every day, looking for new properties. They meticulously investigate the properties and add them to their territory. Realtors can see deficiencies and flaws in a building, many of which you do not even know exist. They know their area just like their own house. How are you going to be certain about the foundation quality of a property, or how strong the structure is? Sellers can so easily deceive you and you will never know that.
Informing you of the foundation or structure flaws is only one example among the whole technical expertise a real estate agent offers. They can also tell you about many more issues existing in a house that you cannot see, such as:
- Roofing issues
- Improper electrical wiring
- Flaws in heating systems
- Pest and insect issues
- Poor overall maintenance
- Plumbing issues
- Poor ventilation
- Aging of primary material
2. Realtors know the market like the back of their hand.
Local real estate markets are different, even when you go from one district to another. You should have this fact in mind that in any area, the local agents are the best masters who can pave the way for you through buying your property. Being familiar with the market of that specific area is what only local realtors are capable of. They know the intricacies, ups, and downs in that market.
This is a simple fact. If you are planning to buy something inexpensive, it does not matter whether you consult with an expert or not; however, when it comes to buying something as expensive and risky as a house, you have to be assisted by someone to find the light through the dark. Therefore, if you do not want your thousands of dollars you earned sweating vanish for nothing, hire a real estate agent for assistance.
3. The real estate agents know the related contracts.
Have you ever signed a contract in the field of the real estate marketplace? Even if you have, you still need a realtor. This is their job, and even if you have been through writing several contracts to buy your previous properties, you are a man of wisdom if you still hire a realtor who knows the ins and outs of writing real estate contracts.
There are many sections inside a real estate contract that inexperienced buyers do not know about at all. This is when having a professional agent by your side seems crucial. You are most likely unfamiliar with the details of how to fill the blanks in those contracts. Sometimes, signing the contracts incorrectly can lead to losing huge amounts of dollars.
There is another vital reason why you should hire a real estate agent when writing a contract. They know how to write a nice contract that can present you to the seller as nicely as possible. Convincing the seller(s) to accept your demand to buy their property is just one of their skills. Many sellers may reject you simply because they feel you are not the right person.
4. A real estate agent negotiates on your behalf.
The real estate agents are absolutely avid negotiators in their job. The biggest benefits come to you when they negotiate on your behalf to convince the seller and run the purchasing process.
How do you know if a property is, say, overpriced? Can you prove that? The real estate agents can. They know the market and prevent you from wasting your dollars for nothing. A dexterous realtor can even put the area under thorough analysis to prove that a property is overpriced, and appeal the seller no matter how tough a guy he is.
You are on your own if you do not hire a trained realtor when purchasing a property. The majority of the customers do not have a clue how much the real value of the properties is in an area. They might be easily deceived into spending much money unnecessarily.
5. You will not pay a penny to use an agent’s experience.
No, real estate agents do not work for free, it is their job. The fact is that “you” are not the one who pays them. In most cases, it is the seller who pays an agent for granting them a buyer. Then, in brief, you are offered a great deal of worthwhile information for free regarding buying a property.
Typically, the agent and the seller split the commission on a sale; however, there might be cases in which you are the one who should pay the real estate agent. Sometimes, the houses are labeled as FSBO, which is the abbreviation of For Sale By Owner. Through the sale of these properties, the seller has indeed refused to pay the buyer’s agent any commissions. That is why you should pay them for their service. In these cases, be cautious and make sure the owner of the FSBO house you are attempting to purchase has agreed to pay the commission.
Your real estate agent should clarify the deal in FSBO cases. This is a part of their job to explain how the transactions go on. There might be an FSBO house that matches your pocket perfectly, then do not cross them out of your options just for the commission issue; try to keep the deal with the help of your agent.
6. A real estate agent will coordinate the showings well.
We all live in a busy world. Through the process of purchasing a property, three main persons are involved: you the buyer, the seller, and the realtor. This is the realtor’s responsibility to dig up and find the best time when the showing can happen despite the business of yours and the seller’s.
A clever agent should be able to beautifully juggle with the numerous showings listed in their weekly schedule, and find the best time to show you the house of your interest. They must make many phone calls if needed, note your weekly plans and those of the seller’s, and coordinate the showings well. This may superficially appear a simple task, but when you are putting several potential houses in your list and are going to view them all soon, you will find how tough and tricky can the showing coordination be.
7. Your real estate agent prevents the transaction procrastination.
Sometimes transaction delays are inevitable through the process of a home sale, but most of the time you and the seller can avoid them with the aid of your agent. This is one of the realtors’ most essential responsibilities to prevent transaction delays. They can use their experience through the purchasing process to eliminate the potential problems causing the probable delays beforehand.
It is needless to say that your agent is as willing to make the process go smoothly as you are. To do so, he needs to be skillful enough to anticipate the possible issues even before they are born. They can surely minimize the delays acting as a barrier ahead of the transaction, just by getting aid from their previous experience and offering the best solutions available.
The delays are in any case frustrating, especially for the seller and the buyer who are the two main sides of the transaction. A top-notch real estate agent can help the whole process stay on schedule. There are many reasons for the procrastination of real estate closings. A buyer’s agent is responsible for planning the contract dates, such that all the process goes right on the specified timetable priorly set.
Under what conditions can I purchase a property “without” a real estate agent?
Some people attempt to buy a house without any assistance from a realtor. This is an absolutely risky act in which you might dissipate thousands of dollars overnight. Buying a house without a realtor requires you to be well-equipped with the process information relating to purchasing the property and intricacies through the way. You can do it on your own, if and only if you have convincing reasons to do so, or you are confident enough to handle the negotiation solely.
A thoughtful piece of advice for you who try to buy a house without the help of a realtor is to do it having one of these specific reasons:
- You know the property owner well as if he/she is your trusted friend or family member.
- There is only one property to buy in your list and you know almost exactly how much it is valued at.
- You have purchased many properties earlier and know well how the process works.
- The house is tagged as FSBO (explained above) and the seller is unwilling to pay the commission for the agent.
Henry Ford has a famous saying. In brief, it explains that if you are going to prove you are smarter than them, hire people who are smarter than you. You do not need to do the whole works on your own. Surround yourself with people who know more than you and the job is done. Find the right real estate agent if you want your money to be correctly spent on a house that matches your requirements, and you will land safely.