It makes perfect sense to work with an agent when selling a home, since the whole process can be very complicated and time consuming. However, the same opinion is not so popular when it comes to buying a home. Most buyers are under the impression that they can see for themselves whether or not a property is a good fit for them, and they don’t see the point of wasting 3% of the sale price. However, working with a realtor when buying a home can bring you numerous benefits, which are more than worth the commission. Stay with us to learn how you can benefit from hiring a realtor on your next property purchase.
If you work with a standard agent or broker, you have no choice but to trust that they will do what is in your best interest. However, if you work with a realtor, you can rest assured knowing that they will always put your interests first. This is due to the fact that realtors must abide by NAR’s Code of Ethics, and they are legally bound to disclose all the problems of a property, to advertise truthfully, and to deal with all parties of the sale honestly.
Useful pricing advice
A good realtor can tell you the right price for a property, the moment that they see it. If they have sufficient experience with certain neighborhoods, they can easily tell you if a property is worth your money or not. Moreover, they can easily spot potential problems, although this shouldn’t stop you from ordering an inspection.
Negotiations and requests
Negotiations are all about getting the most value for the best price. For most buyers, this simply means getting the property’s price as low as possible. However, negotiations can also involve requests for repairs. Once you have a property inspected, you can decide what problems you can live with, and which ones you would like to have repaired. For example, say you are planning on buying a property with a faulty plumbing. Sure, you can lower the price due to this massive problem and use that money to take care of the repairs yourself. However, this means that after you move in the new home, you will have to spend a lot of time in a construction site. It can be a huge waste of your time, not to mention the stress that it will put on you. As such, you might be better off trying to convince the current owners to take care of the repairs themselves. This is where the agent’s excellent negotiations skills come to the rescue.
Finding available properties
Not all available properties are advertised publically, especially when it comes to expensive properties. For example, luxurious properties in the West Hollywood Real Estate market are often only advertised within the close network of a good realtor, as many of these properties are owned by public figures who want to avoid having their personal life on display as much as possible. As such, if you work with a good agent, you have more chances to find available properties that meet your needs.
Valuable help with the paperwork and regulations
Written offers and counteroffers are a nightmare to deal with, and small mistakes like not checking a box or not initialing a margin can cost you a lot of time. This is where a good realtor comes to the rescue as they have dealt with these tasks countless times. Moreover, they also know the local laws and regulations. So, if you plan on making serious renovations or opening a small business on the property that you plan on buying, they can tell you from the start whether or not local laws and regulations allow you to do this. Keep in mind that these laws change all the time, and they differ from state to state, so it pays to work with an expert that is always up to date with all these changes.