The #1 reason home buyers and sellers choose not to use a real estate agent is…. you guessed it, to save money on real estate commission costs. Looking for savings potential is never a bad thing, but in certain situations, you should ask yourself, “will the savings be worth the headache?” More often times than not, buying and selling your home solo comes with obstacles that real estate agents are pros at avoiding: scams and liabilities, wrong or missing paperwork, high home prices or low ball offers, and more. When it comes to real estate transactions, like many aspects of life, you get what you pay for.
Here are 10 benefits of using an agent that are well worth the commission costs:
- Recommends a lender: Your agent can refer you to a trustworthy lender in your area that best fits your financing needs. This way you can skip the hassle of shopping around for a lender.
- Uses tools to finding the right property: One of the first things you will talk about with your agent is what you’re looking for in a home. You won’t be wasting time going to open houses when the property does not meet your standards or are way out of budget.
Agents have access to an NMLS of thousands of homes on the market and can easily spot the perfect listings in your area.
- Prepares a solid offer: When it comes to buying a house, the initial offer is so important. Your agent will help you craft an offer that impresses the seller, protects you, and makes sense to the price point of the home. They’re pros at local real estate and will be able to guide you to a fair sales price for all parties involved.
- Negotiates price: Unfortunately, it doesn’t stop at the initial offer. One of the best benefits of using a real estate agent is their negotiation power. More often times than not, they know the area and have the right tools to identify a sales price that is too high, AND they negotiate upon your behalf so you don’t have to.
- Real estate connections: When it comes time for the home inspection, a crucial part of the buying and selling process, your agent can recommend a trusted home inspector to get the job done well.
- Attends inspection on your behalf: Rest assured, your agent will also attend the inspection on your behalf to ensure it is running smoothly and no damages or repairs are overlooked.
- Negotiates repairs: If damages or repairs are found to the property, the agent can negotiate that the seller fix all repairs before closing. A sellers credit towards repairs or adjusting the purchase price is also a common negotiation that way you don’t get stuck with them.
- Communicates with the seller’s agent: Unless for sale by owner (FSBO), the seller will also be working with a real estate agent as well. Your agent will ensure all parties involved stay up to date with all important information about the buying process.
- Communicates with the lender: You can always be sure your agent will be aware of every milestone in the mortgage process. They can help you identify any issues or missing paperwork to help the mortgage process go smoothly. This is especially helpful if you are a first time home buyer and new to the real estate world.
- Helps you get to closing: The mortgage process is complicated, but your agent will be there to make sure you get to closing and move into your new home. They can help you with paperwork and answer any questions you may have during the escrow period.