10 Benefits of Working with a Real Estate Agent When Buying a Home
We all know it can be browse the internet for your next home but when it comes time to actually purchase a home, working with a real estate agent can make a huge difference. A buyers agent will take the time to help you find the right home and place you on the path of homeownership.
With millions of active real estate agents across the country, you have your pick at finding the right agent to complement your personality and one who will help you get exactly what you need from your next (or first) home.
Here are 10 benefits why working with a real estate agent is in your best interest.
1. They’ll Get You a Better Price
When you use a real estate agent in the purchase process, they will help you get the most for your budget. They are there to know when a home is priced well, or too high, or maybe even too low for the neighborhood it’s in. Your agent wants your purchase price to be a great investment so you can reap the financial benefits of being a homeowner. A real estate agent is knowledgeable about what certain features are worth and how that will impact your finances for years to come. Best part, your agent is there to ensure you don’t pay too much for your home or the neighborhood it’s in.
2. They’ll Save You Time
If you ever sat down at the computer to start your home search you are already aware of how long this process can take. Searching for homes can be an endless time-consuming game. Once an agent understands the specifics of what you’re seeking in a home, they can work to weed out anything that doesn’t match your criteria. Also, agents attend events and open houses all the time on behalf of their buyers so they do not waste their buyers time. Working with a real estate agent is the best way to eliminate looking at homes that simply will not work for you.
3. They Have Access to MLS
The Multiple Listing Service is one of the most effective communication tools in the home buying and selling marketplace. Unfortunately, you don’t always have access to it unless you’re working with a real estate agent. This isn’t to be confused with many of the online home search tools, as they don’t always contain all of the available listings which could hurt your search. The MLS is a powerful tool in the real estate industry that is designed to alert agents to things like open houses, new listing notifications and other useful tools to put you in the right place at the right time.
4. They Have an Inner Professional Network
The real estate professional network is unlike any other business network that you might be familiar with. Real estate agents are consistently interacting with each other about properties and discovering hidden gems along the way. This is not an inner network of people that you are likely to travel in the same circles with, so having access to that network will prove to be incredibly valuable in your home buying pursuits. Don’t be afraid to ask your agent about some of the professional real estate associations they may be affiliated with within their industry.
5. Their Ethics and Expertise
The fundamental benefits of working with a Realtor are encompassed by the two great big “E’s”; Ethics and Expertise. Realtors voluntarily hold themselves to a higher standard and that’s important for the same reason that doctors take the Hippocratic Oath and attorney’s are sworn to a Code of Ethics. Realtors are professional fiduciaries, guided by principals, responsibilities, and rules of conduct that prioritize the client while preserving the dignity of, and respect for, real estate as a profession. Expertise is demonstrated in a variety of ways, including locating homes that meet often very specific wants and needs, pricing and valuation, knowledge of building code, writing binding contracts, unemotional negotiation, and the coordination required for a smooth closing. In what’s often the most significant purchase in one’s life, it’s critical to have an experienced Realtor by your side. Properly represented, you can expect to sell for more, buy for less, and avoid intensely consequential mistakes. (Source: Chris Kallin, SeattlebyDesign, Realogics | Sotheby’s International Realty)
6. They Know the Lay of the Land
One of the best features of working with real estate agents is that they fully understand the city they work in. For you, this translates into market knowledge, neighborhood background and real estate insights you may not otherwise be privy to. This will come in handy when you have specifics about what kind of neighborhood you want to live in, how far you want to commute to work, or what kind of schools you want your kids to attend. For example, you might find a home that you really adore; an agent will be able to tell you more about the neighborhood as far as things like the quality of the schools, crime rates or pending commercial development.
7. They Know the Market
The real estate market is one that changes from week to week. Some changes are small like minor price fluctuations in a neighborhood, while others are more significant like interest rates. Each state, city and small municipality has their own real estate markets beyond what is happening on a national level. Real estate agents are constantly monitoring these changes for their buyers which keeps you informed of all of these volatile details so you can purchase your new home at the best possible time.
8. They Understand Complex Transactions
Real estate agents understand all of the complex processes that take place in a real estate transaction. For instance, the home inspection and being able to interpret unfamiliar details effectively to you. An agent will also understand communications from your loan officers and underwriters which will help you feel organized and highly aware of what is happening in your property transaction. As issues arise, or information is needed from you, your agent can quickly advise you on how to retrieve anything needed so your purchase can progress with less stress.
9. They are Motivated to Find You a Home
Real estate agents are highly motivated individuals as their success is predicated on their ability to find you a home. In short, if they do not help you buy the home of your dreams, they do not eat. Real estate agents don’t typically work off of any kind of salary, for the most part, they are independent contractors who are in control of their own financial destiny. You can be confident knowing that your real estate agent is motivated to find you a property so you can truly live, happily ever after.
10. You Have Nothing to Lose!
When you hire a real estate agent to help you find your next (or first) home, you aren’t making a financial investment to do so. The seller will be paying all the fees upfront while you get a qualified professional representing you before you ever place one dollar on the offer table. This person will be working hard for you from the moment you sign an agent contract, to the moment you get the keys to your home.
We hope that you are motivated to find the right real estate agent to help you with your next real estate transaction. We suggest asking friends and family for real estate agent referrals and doing some online research to find the best agent that suits your personality or property. Some real estate professionals work within small niches that may prove to be helpful depending on the type of property you are in the market for.