Do you need a realtor to buy a home in 2022? What will a realtor do to make the home buying process
do you need a realtor
Moving to a new home is ranked among the most stressful experiences in a person's life.
There are many things to navigate, and it's especially tricky if you're buying a new home for the first time. There are ways to streamline the process and make it easier on yourself, though.
Do you need a realtor to buy a home effectively?
We're going to answer that question today, giving you insights into what realtors do and whether you should consult one. We hope the ideas below help make your homebuying process easier.
Let's take a look.
What Do Realtors Do?
Realtors help facilitate the process of finding, listing, buying, selling, and negotiating the prices of homes.
These are all things that individuals can do on their own, however. Just because you can do something without professional help doesn't mean it's easy to do so.
Buying a home is one of the most significant financial decisions in a person's life. You want to be sure that the process goes smoothly and that you're getting what you think you're paying for. Verification of the quality and soundness of a home is wrapped up in the sale process.
There are inspections to go through as well as various appraisals. Realtors are familiar with local inspectors and appraisers, often getting lower rates through connections.
Buying a home is also a process that can be financially and legally complex. There's red tape to navigate. There's also room for negotiation and manipulation of terms in contracts.
Those factors work together to make the "simple" act of buying property into a very complex process. Realtors are there to facilitate the process for you and do their best to make things work in your favor.
Home Buying Realtor Fees
Realtor fees are interesting from the buyer's side of things.
Your real estate agent typically splits the commission with the selling agent. There are various ways to split that fee, but it typically works out that the individual buying the home doesn't pay much, if anything, to the agent.
There is an incentive for agents to buy homes at higher prices in that equation, though. Most agents are honest and reliable, but it's still something to consider when you're deciding whether or not to work with one.
Do You Need a Realtor?
One of the first things to note is that you'll have a harder time finding a great deal without a realtor. Realtors have insights that average citizens don't. They're queued into the local market with details on homes that might not be listed yet.
They're also aware of price points and flexibilities that aren't evident in online listings. In other words, they know how much a house could really go for, despite the asking price.
That means your agent can expose you to more homes within your price range. You might miss out on your dream home because you didn't even know it was for sale.
Property Insights and Warnings
There are things hiding beneath the surface of home listings. Maybe there are some issues with the neighborhood that sellers aren't required to disclose.
Most issues of property history get disclosed to potential buyers. There are laws in place that require sellers to disclose information about a home to buyers. That said, things slip between the cracks, and some sellers aren't as honest as they should be.
Real estate agents have insight into different properties as well as access to information that could be relevant to you. Knowing glaring flaws in a property can save you time, stress, and loads of money in renovations.
One of the biggest benefits of real estate agents is the fact that they know how to negotiate home prices.
You might not have experience negotiating, especially on huge purchases like homes. Even if you do, negotiating a home is different from working out a business deal or getting a good price for something at a flea market.
There's a logic to selling a home that intimately relates to the particulars of a contract. It's also important to have knowledge about home features, what they're worth, and how they relate to a home's price. Realtors have experience with those things, and they can work hard to lower your buying price.
Tack that onto the fact that the negotiations happen in the context of industry jargon. There's a real estate shorthand that is the status quo within real estate transactions. You might know a little about those terms, but the odds are that there's a lot that the average person isn't exposed to.
Virtual 3D tours, virtual enhancements, and floor plans are all available to make the process easier. These services are often only available to agents.
Homes that are "For Sale By Owner" face a number of challenges, but, like purchasing a home alone, it's possible to make the sale if you're familiar with the process.
Need More Homebuying Insights?
So, do you need a realtor to buy a home? Not necessarily, but it helps if you're new to the process. The more assistance and resources that you have, the better your odds of getting a great deal.
We're here to help with more information. Explore our site to learn more about our listing services, market insights, and other tips on purchasing a home.