Why use a real estate agent when home buying?
Purchasing a new home is not an easy undertaking. The process involves searching for the ideal location, finding a property that meets all of your expectations, getting pre-approved from a lender, filling out endless forms, signing legal documents, and, of course, negotiating the purchase price. For some, the experience can be stressful, time-consuming, and fraught with unexpected pitfalls.
If the above describes you, consider bringing a realtor on board to help you navigate the home buying process – you’ll save time, money, effort, and keep unwanted stress at bay.
Some of the benefits of hiring a realtor include the following:
Locating available homes
Realtors have access to all the homes that are currently on the market for sale. In addition, they can contact sellers that, for one reason or another, have decided not to publicize their properties. As a private buyer, you would not have knowledge of or access to such a large inventory, so being able to leverage the database of a realtor can provide you with more options.
Access to insider real estate knowledge
Realtors are professionals who live and breathe real estate. They have an in-depth knowledge of housing market conditions, neighborhood trends, zoning ordinances, and have the ability to compare prices of different homes and assess whether certain properties are underpriced or overpriced. They are also committed to updating their education through courses and other professional development. Unless you regularly follow the real estate market, you won’t have this type of expertise at your disposal, so hiring a professional is more ideal.
Avoidance of costly mistakes
When purchasing a home, sometimes you simply don’t know what to look for, and this can prove to be costly down the road. A realtor knows the red flags to watch for (such as mold) and is aware of the disclosure requirements the seller must provide to you.
A realtor is extremely useful if you’re purchasing a new construction instead of a resale home, which is a more complicated process. An experienced realtor will possess knowledge of the reputation of the builder and can help you understand how things like location, lot size, the size of the home, building materials, labour costs, and upgrades affect the final selling price.
Help with paperwork
Let’s face it: paperwork related to a home purchase is dull, tedious, and can be quite overwhelming for the uninitiated. A realtor can help you ensure all the necessary documents are filled out correctly, as well as submitted on time. Most realtors also have access to word processors, copiers, printers, and fax machines, which all aid in the efficient preparation of documents and their submission.
Referral to other services you’ll need
A realtor can connect you with other professionals you’ll need to work with, such as mortgage lenders and home inspectors. If you’re purchasing a home for the first time, you’re likely limited in your knowledge of the mortgage and real estate industry and where you can turn for the best advice. Realtors usually have a network of trusted professionals they’ve built a relationship with and can provide you with a referral.
Negotiating the sales price
Your realtor can act as a liaison between you and the seller. For many, the negotiation process elicits feelings of apprehension and anxiety, as they don’t feel confident making an offer and assessing whether the seller is being reasonable or unreasonable. An experienced realtor has been through the negotiation process many times and knows how to secure a favourable price for the buyer.
When buying a home, you want to ensure the process is completed in a competent manner and that you are able to obtain the home you want at the price you want. Hiring a realtor to provide guidance and take care of the details can help you achieve this goal, so before you embark on your househunting trip, take the time to get acquainted with a realtor.