Many homebuyers go about their home search without the help of Real Estate Agents. Access to various real estate websites makes it is easy for buyers to do their home search without the help of a Realtor. We get it. Sometimes it feels like a hassle to have an agent when you can do it all yourself right? You can reach out to the seller’s real estate agent directly. You can do the search yourself. So why do you need a real estate agent to represent you? There are many advantages to having a Real Estate agent. Here are 6 reasons why you need a real estate agent.
The Seller is paying for you to have a Realtor
Many homebuyers believe that if they don’t use a real estate agent, they can get a better price on the home they are buying because savings on commission for the seller will be passed on to them. This is a common misconception because in most listing agreements, the sellers are paying an agreed upon commission regardless if the buyers are represented by a real estate agent or not. Most sellers pay 5-6% in commission* to their real estate agent to sell their home. So you think you will get a piece of that commission if you buy without a real estate agent representing you? Wrong! The seller still pays the full commission to their real estate agent. So who wins if you don’t have an agent representing you when you buy a home? The listing agent! They get to keep the full 5-6% commission and does not have to split it with the buyer’s real estate agent because you are buying without one! In other words, the seller is paying for you to have a real estate agent so why not take advantage of it? *This is just an estimate, commissions are negotiated between seller and their listing agent so may vary.
Your Real Estate Agent will help with the home search
You may think you can do it yourself with home searches via Zillow and other real estate websites. However, you may miss certain listings or may have wrong information. Many real estate websites are flawed and their feed may not offer the most up-to-date listings. While a real estate agent with access to the local MLS will have the most accurate information. Your real estate agent may also have access to non-MLS listings through other brokers. It helps to have a real estate agent help you with your search!
Provide local market knowledge
It’s one thing to do the research yourself but a real estate agent is the local market expert. Often times, he/she lives in the area or is very familiar with the market. Your agent will know insights and nuances in the market that you may not get from online searches. Think of your agent as a guide, he/she will provide additional insights on the market, the neighborhood and the houses.
Pull historical data and do other informational searches for you
Real Estate agents have access to local MLS and can easily pull market data for you. Data that you can’t find online on your own. Your agent can look up historical sales data to determine overall market trends and do comparable market reports for you. They can easily access key real estate metrics like days on market (how long it takes to sell a home) or months of supply of inventory (to determine if it’s a buyer or seller’s market). Plus Real estate agents can also look up the seller’s information such as purchase price, whether or not they have a mortgage, what the mortgage amount is and other history regarding the property.
Negotiate the offer on your behalf
This is probably the main reason why you’d want to have a real estate agent working for you. Most people don’t like to negotiate or may have difficulty negotiating. Real estate agents do it on a regular basis- they know the ins and outs of negotiating home prices. It seems like a no-brainer, why do it yourself when you can let a pro negotiate on your behalf?
Someone you can trust that will guide you and hold your hand throughout the home buying process
Oftentimes, your real estate agent will become a confidant and friend. I don’t know about you, but having someone watch out for you, to help you and take you through the whole process is so much better than doing it alone.
The best part is that it doesn’t cost the buyer anything to use a Real Estate agent because it is already built in to the seller’s commission to the selling agent.
Are you looking for a real estate agent? Let us help you!