If you’re looking at buying a home, you should know that you have a few options to do so. The first method of purchasing a property is the one that millions of Americans choose each year – use a real estate agent. These talented professionals will help you through the maze of contracts and legalese to help you land the home of your dreams.
However, you don’t technically need a real estate agent. Many people buy homes from builders, or they elect to go unrepresented into a real estate transaction.
While it’s certainly legal to buy a home without an agent, it’s seldom advisable. Here are three crucial reasons why you’ll want to buy your next home with an agent.
Real Estate Agents Have Fiduciary Duty To You
An agent must, by law, act in your best interests financially. In practice, this means that agents represent your interests in a real estate transaction. If there’s a potential opportunity to save money, then the agent will point that out to you!
When looking at homes, it’s easy to get swept up in the grandeur of it all. If you find the perfect home – the one in which you could imagine you and your family spending the rest of your life – it’s natural to have strong emotions that may lead you to make a wrong decision financially. Having an agent watch out for your wallet can be very beneficial!
Agents Know The Law And Contracts
Do you know what real estate contingencies are, how to remove them, and their implications? Are you aware of how to fill out your state’s standard real estate offer form? Do you know how to contact the listing agent and submit your offer?
If you’re like most people, then you won’t know how to do all those things yourself. Agents know each of these property purchase details, and they fill out these forms all the time. Therefore, they are in an excellent position to help you write a great offer and have it accepted by the seller!
Real Estate Agents Can Often Show More Properties
While buyers who elect not to use agents can find open houses to visit, there are many more opportunities to see homes that agents can provide. Real estate agents can often get codes to lockboxes, which lets them show the house any time of the day (with permission, of course, from the seller). Without having a buyer’s agent, you’d have to coordinate this yourself with the seller’s agent.
Since you can visit properties at “off” times, you can usually see more of them if you have a real estate agent.
Knowledge Of The Area And Offers
Excellent real estate agents know the areas they serve exceptionally well. They know where the good schools are and which homes are of high quality. Agents can make recommendations based on the criteria you tell them. Instead of doing this extensive research yourself, your agent will be able to work with you to find the perfect area.
Of course, because they know the area so well, they also know property prices! As such, buyer’s agents can recommend what to offer and how to structure the deal, so you have the highest chance of success!
It Doesn’t Cost You Anything!
The best part of having a real estate agent as a buyer is that you get all these features for free. The seller pays for your access to your agent’s understanding of contracts, the ability to see more properties, and knowledge of the areas and offers.
Protect yourself and make the smartest offers possible by getting a real estate agent as a buyer!