Let’s call a spade a spade – you have access to listings. You can view them yourself and you may be asking if you really need a Realtor at all? Realtors don’t to help you find homes online. Virtual tours allow you to see into a home before you commit to open houses. You can even stop by an open house. Or, schedule a home inspection and work with a lawyer all on your own.
But finding a home is only 10% of what we (realtors) do in order to help buyers. In the fast paced market we currently find ourselves in, buyer representation is more important than ever.
We are not trying to sell you using a realtor, we are trying to educate you on why it would be beneficial to use a Realtor to help you purchase a home:
1. It doesn’t cost you anything
You might not know this (many people do not) the buyer’s agent commission is paid out by the seller, NOT the buyer. So, if you want to buy a home you don’t pay commissions. Whether you purchase a property on your own or with the help of the seller’s agent, it usually results in the seller’s agent being paid both sides of the commission.
Do not miss out on the valuable market expertise and negotiation skills of a Realtor, which could help save you more money in the long run.
2. Dual agency/realtors can get tricky
You wouldn’t hire the same lawyer to represent both parties in a legal battle. Would you? No. So, why would you use the same agent to represent the buyer and the seller in a real estate transaction?
In a dual agency situation, there are many things the agent cannot legally do to help you with your purchase. Their actions can be a conflict of interest. For instance, they would be unable to advise you on price, beyond giving recent comparable sales in the area.
Representing yourself or using the same realtor for both sides puts you at a disadvantage.
3. Realtors are market experts
You wouldn’t fix your teeth on your own. You probably don’t cut your own hair. Well just like any other profession – realtors study the market. They are immersed in deals all the time. Realtors know the value of properties better than anyone and can help you choose the best price to offer on a property. Negotiations can be intimidating if you don’t have someone on your side. If being an expert in negotiations is not your forte, let a professional help you.
4. Legally, do you know where you stand
Realtors write legally binding contracts and are on your side if anything unexpected happens during the purchasing process. Realtors carry liability insurance for this reason and are required to take legal update training regularly so that the can better represent our clients.
If you get yourself into a situation and you do not know what to do it, it may be too late to back out of deal. Rather than put yourself in such a setting allow a realtor to step in (from the start) and keep your home selling our buying legal and within your comfort zone.
5. A Realtor saves you time
Sit back, relax and enjoy the process! Realtors can filter through MLS listings efficiently, schedule showings, gather documents, ask questions and do all of the other little things that take up your valuable time.
Realtors know home inspectors, mortgage brokers, contractors, notaries, lawyers and can help facilitate the entire process from start to finish.
Working with a professional realtor is the best way to ensure that all home items are taken care of for you before you move in. If you have questions or concerns, ask!
As always, if you need help buying or selling your home please don’t hesitate to contact us at any time.
Gregg Bamford and Ryan Bamford