These days shopping for home listings is easy. As you know, there are websites and apps everywhere. Or you can drive around neighborhoods that you like and find for sale signs. Surely it would make sense just to call the listing REALTOR® and go see the home. Who needs a REALTOR® these days?
Not so fast is what we advise. There are some solid reasons for you to find one competent REALTOR® to help you.
1. A Good REALTOR® Knows More Than You Do
How many homes have you bought in your lifetime? When was the last time you purchased a home? Most people have only ever purchased one or two homes. For many, it’s been decades since they last purchased. Don’t be amateur. A good REALTOR® helps people purchase every day. A good REALTOR® will have helped clients purchase 50 times or more. Who knows more about the process? You or the competent experienced REALTOR®?
2. Did You Know There is a Hidden Market?
Finding homes listed for sale on the MLS® System is easy. How would you find unsold homes, or perhaps homes that are coming up for sale shortly? A good REALTOR® can help you to source these opportunities. The benefit to buying in the ‘hidden’ market is that you have less competition and may be able to purchase for a lower price than if the home was listed in the open market.
3. Have You Considered the ‘Tired’ Market?
Don’t be like most buyers! Most buyers focus on what’s new in the market. If you do this, you are looking at homes for which there is the most competition. Where can you buy for less? Focus instead on homes that have been listed for a long time. Again, a good REALTOR® can help you source these opportunities easily.
4. The Listing REALTOR® is Not Your Friend
It might seem smart to contact the listing Realtor® and ask her to show you the home that she has listed for sale. You can ask direct questions and get the inside track on the home. Be aware however that the listing REALTOR® may also use this opportunity to get the inside track on you. If you tell her that you really love the home, that you have sold your old home and you are desperate to buy this one, you just fell into a big trap. The listing REALTOR® has a legal responsibility to the home seller. In general, the listing REALTORS® job is to find a buyer, (or buyers) that will pay the most amount of money and take possession of the home in the shortest possible time frame. Your objective is to most likely purchase a home in a time frame that suits you and for the lowest price possible. See the problem? If the listing REALTOR® can take advantage of your naivety, she will!
5. You Might Pay Too Much
Remember the listing REALTORS® job is to get you to pay the most you can. You will need access to complex market data and soft information that can often be obtained by a good buyers REALTOR® who knows how to ask the right questions. Unless you are a natural negotiator, or you are expertly experienced in this part of the process, you will miss asking the right questions at the right time to best understand your adversary’s (the seller) position.
Appraisals are not always helpful either. See this link to find out why.
6. Your REALTOR® is Your General Contractor
If you were building a home would you try to find every tradesperson to build it? That’s a laborious task and fraught with risk. Or would you find a General Contractor who had access to the best available tradespersons at the best prices? That’s what your REALTOR® could be for you. They will know where to get a good mortgage, a competent home inspector and where to go if you need any other experts, for example trades people who can advise you on repairs for replacements of heating, plumbing or electrical systems etc.
7. There is No Direct Charge for this Service
In most cases your REALTORS® fee is built into the purchase process and the seller has already agreed to compensate them. Therefore, in most cases, you will not pay any costs for their expertise directly. Ask for your REALTOR® for a full explanation.
So why should you pick one REALTOR®?
As this article explains a good REALTOR® is going to do a lot for you and adds lots of value to your home purchase process.
Is it not fair that you also make a commitment?
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