Using a good real estate agent to close on the right home should be a “no-brainer.” There are many ways that real estate agents add value to the home buying process. And since all commissions are paid by the seller, home buyers should definitely take advantage of this resource. Here are just five reasons why using a real estate agent can enhance the home-buying process.
1. Knowing the neighborhood. A real estate agent who knows the neighborhood, may already know whether or not a home has what you are looking for. For example, your agent will know that a home has the large master bath you want or the heavily wooded lot that you don’t. After seeing several homes together, your agent will pick up on your likes and dislikes even if you aren’t aware of them.
2. Staying within financial boundaries. The cost of home ownership extends beyond the mortgage. Real estate agents are aware of upkeep and renovation costs, and they can help you calculate the actual costs of owning one home or another. In addition, a real estate agent is experienced in negotiating for repairs or repair allowances. Finally, tell your agent if your job requires you to move frequently. Such careers demand that you purchase a home that will be easy to sell later on. In these cases, a real estate agent’s advice is invaluable.
3. Interpreting pricing. As you know housing prices are negotiable, but a real estate agent can find out why a home is priced too high or too low. Maybe a home is priced low because the owners are moving out of state and need to sell immediately. Or maybe the price is reduced because the home needs substantial renovation. On the other hand, if a home is overpriced for its market, your agent will know that too. This means that a real estate agent can search outside the financial box and find overpriced homes that are actually in your price range.
4. Handling negotiations. A cool-headed person can negotiate more effectively than an emotional one. A real estate agent knows how to present negotiation points without offending sellers, a skill that could net you thousands of dollars in the end.
5. Managing timelines and paperwork. Real estate agents know when to schedule the home inspection―they can recommend a quality inspector too. They can also recommend closing attorneys, mortgage lenders, and even contractors. In addition, an agent handles reams of paperwork that could easily be mishandled by even experienced buyers. When you use a real estate agent, you know your closing schedule is on track.