You can use home affordability calculators to set your homebuying budget, save your favorite homes on listing apps, and dig into a home’s history with a quick Google search, thanks to the internet. So, you may be wondering, why use a real estate agent to buy a home when there’s so much online? While the internet changed how people shop for homes, the sheer amount of information out there is challenging to navigate alone- dizzying even!
From mortgage preapproval, finding your dream home, making an offer, adding contingencies, negotiating the offer, to closing, the process can be nerve-wracking. That’s why a real estate agent is indispensable when buying a home. Keep reading to learn more!
- Your real estate agent will help you craft a winning offer to entice the seller.
- With their understanding of the local housing market, a real estate agent will help you find a home that suits your needs, preferences, and budget.
- Buying a home involves lots of paperwork- are you prepared to deal with mountains of reading and signatures? An agent will help you get through it all a lot easier!
Understands the Market
A skilled real estate agent has a thorough understanding of the local housing market. That includes providing a comprehensive report referred to as a comparative market analysis (CMA) to help you understand the real estate market trends and determine what price to offer. CMAs also provide you with the essential “need to know” facts, for instance, how long a home has been on the market and whether the price has gone up or down. That information is typically valuable when evaluating whether a specific property is a safe investment and worth the price you’ll pay for it in today’s market.
A Real Estate Agent Understands the Homebuying Process
Buying a house is not as straightforward as, say, buying a car. It entails expert negotiations and familiarity with extensive paperwork and contracts. Sellers and buyers must follow local and state regulations, and buyers should ensure they aren’t missing key details that could cost money and time. For instance, a purchase contract should include precisely worded contingencies addressing whether you can withdraw from the deal if specific issues arise during a home inspection and whether you can move the closing date back if you have problems selling your current house. Besides, your agent will work with you to ensure nothing falls through the cracks during the homebuying process.
Clever Staging Might Blind you to a Home’s Real Issues
Clever staging, gorgeous kitchens, and excellent curb appeal could blind you to a home’s real issues. The good news is that your agent can help you step back and look beyond the home’s styling to focus on the structural qualities of the house, so you don’t miss out on a property with hidden potential. On the other hand, the agent sees through professional staging and camera angles that expand room sizes in online listing pictures, directing your attention to the fact that the stylish pad you’re in love with lacks the square footage and storage on your must-have list. Your real estate agent will also keep an eye out for signs of water damage, foundation cracks, or dated HVAC systems to help you objectively weigh related costs with your emotional attachment.
A Real Estate Agent Equals a Master Negotiator
Sellers typically want the highest price, and you (the buyer) want the best deal- the price and contract terms will bend towards the party with the most artful negotiation tactics. So, an ideal way to back your corner to equal the playing field is to enlist a buyer’s real estate agent. They’ll know which negotiation strategies can render most effective for the situation and how to tweak the angle as the situation develops with counteroffers. In fact, 38% of homebuyers have agreed that an agent will negotiate a lower price for them, while 47% of buyers say their agent will help negotiate better sales contract terms.
Analyzing the Home Inspection
You’ve included a home inspection contingency in your offer- good! But what do you do with the home inspection report? A complete home inspection report can range between 15 pages for small houses to 70 pages for larger ones. And while many inspectors will do their best to adhere to the standards of the profession, individual evaluation styles range from relaxed to hypercritical. For instance, one inspector may point out an electrical issue as minor, while another will present the problem as a dangerous fire hazard that requires immediate attention.
Moreover, the seller and their agent may downplay the inspector’s findings to protect their interests. As such, you need a real estate agent with your best interest at heart to explain the report in layman’s terms and discuss any queries you might have. When you understand the issues and their impact, you can make an informed decision on requesting concessions, such as asking the seller to make repairs or offer repair credits toward your closing costs.
Need Help? Contact Our Local Real Estate Agents!
There are innumerable reasons you need a real estate agent to buy a home in 2023. While new technologies, apps, and websites can help you choose a property, nothing replaces the value a skilled real estate agent brings to securing your most important financial investment. Still, not all agents are equal- you need to enlist a top real estate agent for maximum impact. Our real estate agents have been helping our clients find and buy homes for years, and we’d love to do the same for you. Call us, and let’s help you buy your dream home today!