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Are you thinking about buying a home? You may wonder whether you need a real estate agent. Buyers have plenty of resources these days, from online search sites to how-to guides. But a Realtor has something no buyer; particularly a first-time buyer; doesn’t a wealth of experience. A Realtor is your advocate and will get you a better deal than you could get yourself.
Local Expertise & Knowledge
Real estate agents have first-hand knowledge of the real estate market. You likely don’t know exactly what the market is like right now in your area. Are homes generally selling for 97 percent of asking price? Can you expect to compete against multiple offers? Do you know what it takes to win against other bidders? If you want a three-bedroom detached home, what should you expect to pay? What’s the inventory like? Your agent will be able to counsel you on these topics. The best way to get an offer accepted at a price that’s in your favor is to know the market intimately; and a local Realtor does.
Access to Homes
Without an agent, getting into a home will be difficult. Sellers are happy to let a buyer’s agent have the code to their lockbox to show their home. However, an unlicensed stranger is less likely to have total access to their home. This means that you’ll have to visit the property when either the seller or the seller’s agent is available, making scheduling showings both time-consuming and difficult.
Most individuals who choose to go it alone tour the majority of their homes during open houses, when the home is open for anyone to tour, without an appointment. This puts you at a disadvantage against competition since you likely won’t be the first person to see a home (a problem in a tight market). AND the agent hosting the open house represents the seller. Any questions you have for them about the house will produce answers that have the seller’s best interest at heart, not yours.
When you preview a home with your agent, you not only have access and privacy, but you also have an advocate whose fiduciary duty is to look after your best interests.
With an agent, you’ll have an experienced advocate and negotiator. Buying a home is an emotional process. For many people, it’s the largest transaction of their life and it’s often done during other major life changes, like an expanding family or job relocation. Stress and strong emotions can cloud judgment that may cause you to make a decision you’ll later regret. As agents, we look at a transaction with a more experienced, rational eye. We can help you understand your options, and serve as a balance against making a rash decision. A Realtor will on your behalf, especially at the negotiating table. And get you the best deal possible, without letting strong feelings get in the way.
During the course of your transaction, you’ll likely need a lender, an inspector and a real estate lawyer, and possibly other professionals. Clients often ask me for a personal recommendation for someone whose personality and style matches theirs. As an agent who’s worked with many real estate service professionals over the course of my career, it’s easy for me to find the right provider. Also clients often have questions about home improvement and have recommendations for handymen, plumbers, painters, general contractors, floorers; any type of service you’d need to spruce up your new home.
No Additional Cost to Buyers
Having an agent on the buy-side is free. People have an idea that they’ll save money by not using an agent to buy a home. The seller, pays the entire commission on a home purchase to the seller’s broker, who in turn gives part of the commission (usually half) to the buyer’s broker. If you choose not to have legal representation from a buyer’s Real Estate agent, the entire commission is then paid to the listing agent. If you work with me, you actually save money by having an agent.
Paperwork, Paperwork & More Documentation . . .
A Realtor will do the paperwork for you. Have you ever done a comparative market analysis (CMA) or drafted a purchase agreement? These are not skills that are easily learned. Creating and interpreting a CMA report, and crafting a successful offer, is an art that takes a certain level of expertise to perfect. Drafting an offer can be even more complicated. Buyer’s agents know how to write an offer, with the best possible terms, to ensure your interests are protected and that your offer is accepted.
Making The Right Choice
Finding a good agent is key to your successful home ownership. You will want an agent who’s knowledgeable, dedicated and who has no conflict of interest.
With all that said, are you ready to the make the right choice? It’s time to get started. Sign up to get onboard with my home finder service and tell me what your needs and must have are. And you will need to let me know the budget you will be working with.
Please contact The Cape’s The Place for an initial consultation