Buying a home is the largest financial transaction many people make in their lifetime. If you plan on buying a home, regardless of whether it’s your first, almost all sellers will need advice and guidance along the way. Luckily, there are plenty of resources for those who have never undergone this process and inevitably have questions. Real estate professionals are an essential component of any successful home purchasing transaction. Of course you can try to take on this project without the help of a professional, but why should you? Enlisting the help of a real estate agent benefits both the buyer and the seller, and can save all parties time and energy.
America has been battling a housing shortage for the better part of 2021. Currently, there is only two months of housing supply in the United States, the lowest inventory since the turn of the century. We have more people wanting to buy homes, than we have homes. With this state of record-low, limited access, it is more important than ever to employ a real estate professional to make sure you have the best representation possible. Real estate agents have a fiduciary responsibility to have their buyers’ best interests in mind when trying to strike a deal.
Not only can you expect to receive excellent representation, real estate agents have a host of industry experience and market knowledge, helping you to make guided, educated choices when looking for a home. Realtors can tell you what is an acceptable price for a specific neighborhood, and will negotiate on your behalf to get the lowest rate.
Many people are hesitant to hire a real estate agent and try to undergo the home selling process alone. FSBO listings (for sale by owner) are popular because people believe real estate agents are a waste of money and do not want to give up any part of their profit.
What many don’t understand is how much agents do to aid the process for home buyers and sellers. They assist with all of the hefty paperwork, and can introduce you to a network of professionals who you know will be trustworthy in the other aspects of home buying. Homelight.com details why it pays to enlist a real estate agent if your only reason against it is the cost and provides an infographic detailing the steps in a typical real estate transaction.
In addition to the logistical components of the process, real estate agents are skilled in negotiating to be sure you get the best deal. According to thebalance.com, real estate agents are alert for issues that might not cross your mind, such as furnace issues, leaks, roofing problems, and mold and insect issues. An agent will recognize the telltale signs of these problems and know how best to approach them. This experience and knowledge can end up saving you thousands down the road.
To sum up the argument for hiring a real estate agent, you will have an expert helping you through all steps of the process and keeping your best interest at heart when negotiating. This will translate to helping you prepare for the process and be there with you every step of the way. The attention to detail and care that real estate agents take in guiding you through this process is well worth the fee they collect.