Buying a Home Without a Realtor? Here’s What You Need to Consider!
Do you need a real estate agent when buying a home? The short answer is no. It’s definitely possible to buy without one, though it’s not easy.
The process of going from househunting to closing and moving in typically takes three months or more, even with the help of a real estate agent.
Even with the help of a real estate agent, it usually takes at least three months or longer to move from house-hunting to closing and moving in. For first-time homebuyers in particular, the whole process is time-consuming, costly, and confusing.
This is why navigating the complicated world of real estate is made easier when you have an experienced REALTOR® on your side. From expert negotiating to helpful market advice, there’s more to it than just the sale! It’s about making the entire process simpler and more successful for everyone involved.
While hiring a real estate agent is not mandatory when purchasing a home, consider all the options before choosing to do it alone. Here are the six benefits of hiring a Realtor®:
1. We know the local real estate market.
Realtors® are the best people to ask about details in a listing, such as the neighborhood’s history, zoning, area highlights, schools, or any other topic. We can help you narrow down your search, focus on the right areas, and locate the top listings to help you find your dream home quicker.
2. We know how to find the best home for your needs.
According to a 2021 report by the National Association of REALTORS® (NAR), 53% of American homebuyers said that starting the process of homebuying alone was the most challenging part of finding their ideal home.
This fact alone is the best example of why a Realtor® can be helpful to all homebuyers, most especially to first-time homebuyers, since they have access to internal resources that include a list of properties that are not yet on the market. We can find homes that fit your needs more quickly by using the Multiple Listing Service (MLS) and “off-market” listings.
Realtors® also know exactly what to look for when viewing homes. We can quickly identify problems with the furnace, leaks, roofing, mold, and more, which can then be raised during negotiations to lower the home’s total cost.
3. We have superior negotiation skills.
Negotiations are a common part of the homebuying process, and a good Realtor® can help you get the best deal on your dream home.
Our tasks include negotiating an offer based on the asking price, similar homes in the neighborhood, the current state of the market, and the condition of the home. We also have to negotiate any necessary repairs or changes to the sale price in the event that repairs are not performed.
Besides, why deal with owners who can be difficult when a REALTOR® is an expert in negotiations and will support you through the entire closing process?
4. We educate you on the homebuying process.
For us, helping clients is a 24-hour job. We go through extensive training to fully understand the homebuying process. A good Realtor® will guide you every step of the way, from finding listings you like, viewing properties and accompanying you to showings to make sure they meet your needs, and to submitting offers when the time is right.
It’s a big job but we will go above and beyond to achieve your goals!
5. We take the worry out of your transaction.
Real estate transactions entail mountains of paperwork and we are experts in contracts and documentation. We are able to interpret documents that are filled with complex jargon and legal terms.
We also coordinate with the seller’s agent at every stage of the transaction, work with a title company for a title search, assist in setting up title insurance, work with a real estate attorney to compile all the necessary closing documents and much more.
6. We work with trusted professionals.
When buying your first home, you will need to work with professionals to ensure the process runs smoothly. A Realtor® can get you in touch with home repair companies, home inspectors, appraisers, title and escrow experts, insurance agents, and much more. You’ll definitely save a lot of time and effort!
So, Is Hiring a Realtor Worth It?
Absolutely! Whether you’re buying or selling your home, a good Realtor® is like your hidden weapon.
Real estate commission fees can be negotiated, so if you’re worried about the cost, you might be able to negotiate a lesser rate with your agent. Additionally, you might be able to negotiate out a deal with the seller to have them pay all or a portion of your agent’s closing costs.
By hiring an expert, you gain access to their experience and knowledge. If you don’t, you run the danger of making mistakes, which might end up costing you more money than you save.