Buying a House Without a Real Estate Agent
Though the majority of people buy homes with the help of a real estate agent, there are a select few who try to do it alone. It’s certainly a tempting idea if you don’t want to pay a realtor’s commission. However, the risks of buying alone significantly outweigh any potential benefits. Here are a few of the many reasons why you’ll want a real estate agent by your side when buying your new home.
Finding the Perfect Home
This may seem like the part you can easily do without an agent, but finding the right home is more complex than you might think. Real estate search sites only give you a sample of what homes are available with rather limited details.
A real estate agent, however, will go above and beyond to find a selection of homes that fit your budget, wants, and needs. It certainly helps that realtors typically stay up to date on all the latest and greatest properties cropping up in the region.
Understanding Negotiations and Paperwork
The negotiation process when purchasing a house can be quite complex. There tends to be a lot of back and forth about not just the overall price of the house but also other clauses and contingencies that will be included in the purchase agreement.
Another key aspect of the negotiation process is conducting a thorough home inspection and identifying any potential repairs that the house may need. A realtor knows exactly what to look for.
This process, along with all the paperwork involved, typically includes a lot of complex jargon. If you don’t have the time or energy to conduct negotiations or learn all the relevant terminology, you’ll be glad to have a realtor.
Researching the Neighbourhood
Sellers aren’t incentivised to tell you every detail about the neighbourhood you’ll be moving into. Thankfully, a real estate agent has both the expertise and connections needed to dig up information. This includes the neighbourhood’s best qualities as well as any potential drawbacks, such as loud neighbours, crime-related problems, etc.
Advocating For You
Less than one per cent of properties sold in Australia are sold without an agent. This makes it highly unlikely that the seller of your ideal home won’t have a listing agent. This listing agent will use their industry knowledge, resources, and experience to advocate for their client every step of the way. If you don’t have an agent of your own, this puts you at an immediate disadvantage.
One of the greatest advantages of having a realtor is that they’ll fight for your best interests. They’ll ensure that you’re treated fairly and get the best deal possible when purchasing your new home. You won’t have to worry about the sellers or their listing agent leaving out important information or overcharging you.
Save Yourself the Stress
Buying a house with a real estate agent is typically faster and far less stressful than buying without one. Though some assume that they’ll save money buying without, this often isn’t the case.
Without a realtor, you may not be able to negotiate the best possible deal for yourself. Also, the brokerage fee for the real estate agent is typically included in the listing price anyway, making it unlikely that you’ll save a meaningful amount of money.
This makes it all the more clear that the benefits of buying alone don’t justify the many risks. Having a professional, knowledgeable, and licensed real estate agent on your side is guaranteed to be worth it.