Do you actually need a real estate agent to buy or sell a home?
Updated: Feb 28, 2022
This article will give you 8 things to consider when deciding whether or not to use a real estate agent to buy or sell a home.
If you have ever considered whether you actually need a real estate agent, the simple answer is, no (not technically). However, before you go off and try to sell or buy a home without the help of a realtor, it is important to understand why you might want to use a realtor in the first place. If you are inexperienced in buying or selling real estate, it is wise to consult a realtor who can help you through the process.
Things you will have to do without a real estate agent
1. Find homes that fit your budget and lifestyle needs. Sites such as Zillow or Realtor.com give you a general idea what a house’s asking price is. It will be on you to determine whether the asking price is fair or way out of line with the market.
2. Gather information about a neighborhood. Often times sellers won’t disclose information that you may care about.
3. Negotiate the price. All negotiation will be on you including any contingencies agreed upon in the purchase agreement. If you are selling your home, you need to know how to raise the value of your property as much as possible.
4. Conduct inspections, and if needed, negotiate any repairs with the seller.
5. Read through all the paperwork. You will have to make sense of all the complex documents.
6. Avoid making mistakes. Buying or selling your home opens you up to a very cut throat industry. The real estate market has little room for amateurs making mistakes. When buying a selling or buying a home being able to avoid making simple mistakes is vital to a successful listing.
Let’s discuss reasons to use a real estate agent
1. A real estate agent is your expert mentor. During the home buying process there will be a substantial amount of paperwork, reports, disclosures, and other financial and legal documents. Having someone to help guide you through the sea of paperwork is vital to ensuring that nothing is overlooked. Furthermore, the amount of jargon in the real estate industry is quite extensive and can be intimidating for some. Having a “translator” will make the process much less confusing.
2. Provide unbiased info and opinions. A good real estate agent will help you find the home that you are looking for using an objective approach. This helps you meet your buying goals and stay within your set budget.
3. Access to more search power. Your real estate agent will have access to a system called multiples listing service, or MLS for short. Your realtor can help you find active listings that meet your needs and notify of you of listings soon to hit the market.
4. Aid in negotiations. When working with a good a real estate agent, they will look at negotiation from your perspective. Take into consideration that real estate agents are negotiating on price all the time and typically will be able to get a price that’s good enough to cover commission fees.
5. Will provide up-to-date information. Most people aren’t buying or selling homes every day or even every year. Guess who is… a real estate agent! Real estate agents stay up to date on all of the legal info, regulations, zoning rules, and the people to talk to. This means that even if you have bought a home in the past. The real estate agent is most likely more up-to-date on the issue than you are.
6. The best real estate agents have important connections. When buying or selling your home, knowing the right people can save you time and money. Something people tend to overlook is the connection real estate agents have to other agents. Your real estate agent can share your listing with other agents who can then find potential clients who may be interested in buying your home. Many realtors also know all of the best pros near you for things like home repairs, renovations, inspections, real estate photographers, appraisers, mortgage lenders, etc.
7. Real estate agents will market your home professionally. Most real estate agents are just as keen on selling your home as you are. This means that they will market your listing on their website, social media, through handouts/flyers, and open houses.
8. The real estate agent that you decide to use should be able to offer objective support. Let’s face it, at the end of the day, your home is nothing more than a concrete foundation and four walls. This doesn’t mean that your home doesn’t represent and hold amazing memories and sentimental value. This means buyers are going to be looking at your home in a very different way than you.
The Bottom Line
There a lot of pieces in the process of buying or selling your home that need to fit together. A realtor can help you save time, money, and potential headaches. Most people decide to partner with a realtor. Those that choose not to are typically experienced buyers/sellers and are familiar with the market and home they are trying to buy or sell.
Dennis Jordan has been in business for over 16 years and does all of the things listed above. If you are looking for a real estate agent, give Dennis a call at (573)-881-9585.