If you have been considering buying a home and are thinking you should not use a Realtor, consider the following before making a decision on what is the biggest purchase of many people's lives.
Realtor representation is already paid by the seller: The seller of a home is almost always the one that pays your realtors commission. That means all the services your realtor provides you are free to you. If you think by calling the Realtor on the sign in front of the house you want to see will save you money because the seller will only pay half commission, think again. Listing agents that work both sides of the transaction (buyer and seller representation) get the entire 6% commission, instead of having to split it with the buyers agent. If you see a for sale by owner you want to purchase, most owners are willing to pay the buyer's agent commission. So you get all the services a Realtor provides you at no cost to you, so why would you not want someone to work for you FOR FREE?
Negotiation: Realtors are skilled in negotiation. It is what they do for a living. A Realtor representing the buyer will do anything and everything to get you the best price possible when you are not in a multiple offer situation. If you are in a multiple offer situation, skilled agents know what to do to make your offer more appealing. What do you do when the inspection report comes back and you need the seller to make repairs? It is not always easy to negotiate successfully without losing what could potentially be the home of your dreams, especially in this market.
You have someone working for you: Realtors are also in the business of customer service. With a good agent you should get answers to all your questions, information, a walk through of the process, and a partner helping alleviate your stress during one of the most stressful times. They are working for you to get you the home you want for the best deal and make sure all along the way you are on top of important deadlines, your lender is on top of your file, the appraisal is on schedule, the seller's agent is doing their part to get all the documents signed and to the title company on time, and so much more.
Walk you through the process: Purchasing a new home can be daunting, The purchasing process is long and complicated and involves many steps and different parts. Most people do not buy and sell homes every day, so even if you have bought many homes, with laws constantly changing and markets shifting, it is essential that you have a partner working for you that is well versed in the current market and new laws. It is a real estate agent's job to know these things and keep their client informed.
Inside knowledge: Realtors know information that most home buyers are not aware of. For instance, it makes sense to get your mortgage financing through your bank, right? They know you, they have your financial history, etc. But it takes speaking with an experienced real estate agent to know that this is the WRONG thinking. Your best bet is to get financed through a mortgage company that only does mortgage loans, for many reasons! Without a skilled agent, you could make decisions that are detrimental to your home purchase, and in this sellers market, you as a buyer need all the inside knowledge and tips you can get to successfully contract and purchase a home, so you get the home of your dreams and not someone else.
Stress Relief: Home purchases are the biggest purchases most people will ever make. When this much money is involved, the stakes are high and there are so many moving parts to a transaction, there is almost never a purchase that is perfect. Negotiation, inspection, financing, title work, and property maintenance are just a few of the stresses you will encounter in the deal, and part of a realtor's job is to bear the brunt of the stress and work out resolutions while keeping you as stress free as possible. We run interference to make sure that you are not spending as much time worrying about the small details, and instead are able to focus your energy on other things.
Looking at what you get for free, why would you elect not to use an agent? If you have had a bad experience with an agent in the past, understand that no 2 agents work identically, and interview before making your decision. Don't allow one bad experience to taint your views on Realtors, we are not all the same, and a good one will be your good friend for life because of the money and stress they can save you! Our consulting services are always available here at Wolff Real Estate Group, no matter where you are! Give us a call at 214.532.6495 for a free real estate consultation!