Top 5 reasons you NEED an Agent when buying a home
Thanks to the internet, you can learn almost anything. While this is a great benefit, there’s a huge difference between knowing how to technically do something and knowing how to do it well. YouTube is filled with fail videos that prove the difference between knowing how to do something versus having the expertise to do it well. Buying a property is a much bigger commitment and investment than trimming your bangs, for example, but the consequences are similar. In either case doing it yourself can work out well or can cost you significantly more time, money, and heartache than you intended. Here are the top reasons to hire an agent when buying a home.
They Have Your Best Interest In Mind
The absolute best reason to have an agent assist you in buying a home is that they are licensed professionals who have a contractual obligation to put your best interests first. While an agent who is listing the property you’re interested in can draft up all the documents you’d need to complete the purchase, they are in fact, working for the seller. Having an agent working for you will mean that they are negotiating on your behalf and trying to do what is best for you, even if it results in a lower commission for themselves.
They don’t cost you anything
As the buyer of a property, you generally don’t pay anything for the using the services of your real estate agent. Property sellers are the ones who pay all agents in a transaction. Some sellers will price their home higher to account for these costs, but negotiating the final sale price is part of what an agent can do for you.
There’s a lot at stake
In most cases, buying real estate is going to be the largest, most expensive purchase you’ll ever make. How can you be sure you’re making the right choice and not getting suckered into buying a Money Pit home? What happens if you accidentally transpose the address and on paper, you just “bought” a home that the owner wasn’t selling? Having an agent representing you means that you’ll get sound recommendations on things like what kind of inspections you should have and who should do them and the errors and omissions insurance carried by real estate brokerages covers you in the event of a typo.
They do this every day
For most people, buying a house is a few-in-a-lifetime experience. The day you sign the closing papers will be a day you clearly remember, but for your agent, it’s likely just another day. While your agent will be excited for you, for them it’s business as usual, which is great news for you! This experience means they know how to handle unusual circumstances and they know what to look out for to make sure you’re getting a fair deal. In a straightforward transaction this experience might not seem that important, but this knowledge will be invaluable for situations that pop-up without warning.
They have tools you don’t
How do you know if a property is fairly priced? While the internet has some good tools for consumers to use, real estate agents have access to a lot of information that isn’t publicly available. They can tell you when the home you’re looking at was last sold and for what price, what comparable homes are going for in the area, and how this property stacks up. This can help raise red flags and let you know what to dig into more. For example, if the same home has been sold three times in the last two years or if a home sold for dramatically less than it previously had, you’re going to want to find out why.
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