According to NAR, 87% of homebuyers still choose to hire realtors. You might think that not hiring an agent will save you money, but being your own agent can actually cost you more in the long run. Also, keep in mind that time is a resource, too. Hiring an agent can save you lots of time and spare you the hassle of juggling all your personal and home-buying tasks.
1. Provide You With Excellent Options
House hunting can be tiring and overwhelming, and emotions often play a big part when choosing the right home for you and your family. On top of that, you also want to get a good deal that fits your budget.
An agent who is knowledgeable about the market and takes note of your preferences can make the buying process much more comfortable. They can give you a list of homes to visit and provide valuable advice on the neighborhood, schools, recreational spaces, weather/season hazards, and other important information.
2. Guide You Through the Whole Process
It’s useful to educate yourself on the buying process, but real estate jargon and certain skills are best handled by a professional agent. Buying a home involves examining contracts (and sometimes creating one with a lawyer), ensuring you are protected and can back out if conditions aren’t met.
Experienced agents know what to agree to and what conditions to lay out. They will also recommend professional home inspections to identify any repairs needed before finalizing the deal.
3. Negotiate on Your Behalf
Negotiating between a buyer and seller can be tricky. An agent acts as a messenger for both sides, communicating your preferences and concerns without offending the seller or putting the deal at risk.
4. Monitor Your Loan Commitments
Financing your home is one of the most important aspects of buying. According to The US Federal Reserve Survey of Consumer Finances, home-secured debt is the most common type of debt for U.S. families.
A good agent has a network of lenders and professionals to make the loan process—pre-approval to pre-qualification—secure and smooth. They monitor your loan status and advise you on protecting your approval. First-time buyers often make mortgage mistakes, but a skilled agent will remind you to put significant purchases on hold and avoid new loans until closing.
5. Get You Through the Closing
Closing a home purchase involves multiple steps, including paying closing costs such as lender fees, insurance fees, and title fees. A diligent agent will guide you through everything that needs to be done and tie up loose ends to ensure a smooth transaction.
