Buying a new home is a serious matter. While some buyers will go through the buying process without the help of a real estate agent, many find value from an experienced agent’s services. Having the representation and assistance of an experienced real estate agent when home buying makes the process easier.
Do You Need a Real Estate Agent When Home Buying?
Some people do not want to hire a real estate agent when home buying because they consider it an unnecessary cost. However, in many cases, a buyer’s agent fees are paid for by the seller. Before you decide if you need a real estate agent, consider these ways that a skilled agent adds value to your buying experience.
1. Knowledge About the Market
Regardless of whether you have lived in the area for years or are moving into the area, you might not be a local real estate expert. Market knowledge about common property condition, pricing, and features can be helpful as you search for a new home.
In addition, their knowledge about planned growth and development in the city, crime rates, and area schools can help you to make an even better buying decision. While you could research market details yourself, this takes a lot of time and effort.
2. Easy Access to Homes
Before you decide if you need a real estate agent when home buying, think about how you will get in homes for tours. Sellers are much more likely to schedule showings to a real estate agent than a random individual.
Some homes might not even be publicly listed for one reason or another, so only agents know they are for sale. A buyer’s agent will represent you and can show you numerous homes in your preferred area within a short period of time.
3. Contract Negotiations
The terms in a sales contract are legally binding. Before you sign a contract, you might want to negotiate based on the home inspection findings or another reason. A seller typically has a real estate agent who is well-trained in contract negotiations, but you may not be skilled in this area yourself. This puts you at a strategic disadvantage if you do not also have a real estate agent representing you.
4. Accurate Information
Your real estate agent wants to help you buy a home and doesn’t receive compensation until you close on a new property. Real estate agents follow a code of ethics to act in your best interests instead of making the best sale for themselves. They also rely on positive recommendations from their previous clients to generate business.
You may have had misconceptions about what working with a real estate agent would be like or how much an agent’s services may cost you. However, now that you have a realistic idea about what to expect, you can see that hiring a real estate agent when home buying is a good idea. Carefully interview a few experienced professionals so that you can work with someone who’s a good fit.