Do I Need a Realtor® to Buy a House?
If you’re thinking about becoming a homeowner, you might be wondering if you really need a Realtor® to buy a house. I’ve talked about this quite a bit in my videos and on social media, but I thought it might be helpful for first time home buyers (and beyond) to see how working with a Realtor® to buy a house can benefit them (and really, why there’s no reason not to!).
Your Realtor® is There to Protect Your Best Interests
It’s not uncommon for buyers to reach out to the listing agent of a house they’re interested in, and they can sometimes end up working with that agent to buy the home. I know that might seem like the simplest way to go about it, but I promise, that’s really not the best thing to do! Think of it this way: a listing agent’s job is to protect the SELLER’S best interests, not yours. It’s like if someone was suing you and you hired the same lawyer that was representing the person suing you to also represent you. (A little backwards, right?!)
This is the same sort of situation. A buyer’s agent’s (the Realtor® representing a buyer) job is to look out for you and defend your best interests, plus represent you in the transaction and negotiate on your behalf. Buying a house is a big deal, and you want someone who’s going to be there to look out for you through the process!
It Costs $0 to Use a Realtor® as a Buyer
Did you know as a buyer, it (except in rare cases) costs you nothing to use a Realtor®? This is because the buyer’s agent is paid for by the seller! (And I only say in rare cases because a buyer’s agent might negotiate a fee or commission that the buyers would be responsible for, but that’s something you would know about upfront.) So, there’s really no reason to not take advantage of the help and use a Realtor® to help you buy!
Your Realtor® Does a Lot More Than Just Opening a Door
People seem to think that buyer’s agents don’t do much more than get them into a house. But in reality, it’s a lot more than that! Some of the key things your Realtor® helps with includes:
Tracking Down Listings That Meet Your Criteria
It’s not as simple as just doing a quick search and sending you the homes! Especially in the market we’re experiencing right now, homes are being snatched up quickly, and it takes some creativity on your Realtor®’s part to find homes that match your criteria. Right now in particular, it’s not uncommon for me to contact other agents in the industry to see if they have any homes that haven’t hit the market yet, just so I can get my buyers in before someone else does!
Your Realtor® Will Help Negotiate Price, Timelines, and Contingencies
Your real estate agent’s job is to protect your fiduciary duties, and part of that involves negotiating things like the purchase price of a home, timelines for closing, and any contingencies involved in the transaction (such as a home inspection) on your behalf. They’ll look out for your needs through all of this and make sure that those are being upheld.
Staying on Top of Market Trends
The housing market is constantly changing, and every day something new comes up that could affect my buyers! For example, I’ve been working with some buyers for a few weeks now that are just starting to get serious about their house search. Just in that time, housing inventory dropped almost 13% (which is huge!) from when they contacted me. It just goes to show that a lot can change even in a short amount of time, and you need a Realtor® to stay on top of what the market is doing so they can accurately advise you in your home search.
Provides Guidance With Vendors
Your Realtor® is also there to help coordinate the home buying process with other vendors, such as home inspectors, appraisers, lenders, and more. Most clients don’t know where to start when it comes to things like this (which is totally normal!), so your Realtor® can help point you in the right direction and make sure everything stays on track.
Works With the Seller’s Agent From Start to Finish
As a buyer’s agent, your Realtor® is also the middleman between you and the seller’s agent. The buyer’s and seller’s agent work together to coordinate the entire transaction from start to finish, and it can be a big job, especially when there’s a lot of emotions and different perspectives involved (as there are when buying/selling a home!). For buyers, your agent can help take some of the emotion out of the negotiation and coordination aspect, and will work with the other parties involved in the transaction so you can take a step back and relax.
So - if you’ve been wondering if you really need a Realtor® to buy a house, I hope this cleared up any questions! Working with a real estate agent to buy a home is SO helpful, and really comes at no risk to you.
I created a guide covering a few key things you need to know if you’re thinking about buying a home, and it’s totally free! Get yours here!
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