There are no laws requiring you to use a real estate agent to complete your real estate transaction, so why bother, right? Wrong!
A recent article on maxrealestateexposure.com tackled this subject in great detail, and we’ve condensed the most important elements in the article down to some simple bullets points for your consumption.
- Trying to buy a home without a real estate agent can carry risks and lead to issues that you may not be aware of, making the benefits of having an agent immeasurable.
- A buyer’s agent represents your best interests and owes you undivided loyalty, confidentiality, obedience to lawful instruction and accountability.
- A significant benefit of having a buyer’s agent is knowing you have someone in your corner who can analyze market value for you. Overpaying is a substantial risk of buying a home without a real estate agent.
- If an agent knows about a problem with a home, it must be disclosed! There are very few instances where an agent can avoid disclosing a condition that would make a buyer think twice about purchasing a home.
- Without an agent, you might not be aware of the different types of inspections that are advisable for your area, or for that matter how to pick the right home inspector for your property transaction.
- Another advantage of a Realtor is that he or she is an expert on the neighborhoods in the area you are buying, including issues such as school districts, property taxes, HOA rules, commutes, property values, etc.
- Real estate law is complex and varies from location to location. Your real estate agent and attorney have been through this before and are skilled in reading contracts and completing necessary documents.
- When you have your own agent, you are insulated from the persuasiveness of the other agent. Your agent knows what you want and need, and he or she knows how to avoid being taken in by salesmanship.
In most circumstances, it does not make a lot of sense to purchase a home without the services of a qualified agent. Keep in mind in the majority of circumstance you do not pay a real estate agent to represent you when buying a home. Real estate commission is almost always paid for by the seller.