Don't Buy Home Alone! 6 Reasons To Use REALTOR

By
Real Estate Agent with HomeSmart Real Estate BR632450000

Buying a home is the single largest purchase in a person's life time often in excess of $300,000. Sure here are tools on the internet and Sellers and their agents would love to have you buy the home directly from them. But, would you be getting the best deal purchasing your Home Alone? It is nice to have someone on YOUR side of the purchase that is looking our for YOUR best intersts.

 

6 Reasons Buying a Home

without Your Own REALTOR®

is a Bad Idea

 

Most people start shopping for houses online when they’re ready to buy. Then they start looking for a mortgage lender and a realtor. Then they start to question how much help they’re really going to need along the way.

BUYING A HOUSE WITHOUT A REALTOR®: WHEN IT WORKS

As a first-time homebuyer, it’s certainly possible to buy a new house without the help of a real estate agent. After all, you have almost limitless real estate tools and legal information at your fingertips.

But is it a good idea? Many first-time buyers consider skipping the middleman to save on the estimated 5 percent commission paid out on the sales price of a house. (Please note that according to the legal website Nolo, this commission is split between both the buyer’s and the seller’s agents.)

This is where things can get tricky. Though it’s well within your legal rights to buy any house you please without a real estate agent, there’s still the commission factor to consider. If you choose to buy without an agent, it’s possible that a seller’s agent may pocket that extra commission anyway. A large number of real estate agents denote variable commissions in their contracts with clients. A variable commission means that a seller’s agent could get the leftover commission that would have gone to a buyer’s agent.

Even if you opt-out of using a realtor, you may still have to pay for outside help. Signing multiple legal contracts to make a major financial purchase — in this case, buying a house — is risky without some type of legal guidance.

BUYING A HOUSE WITHOUT A REALTOR®: WHEN IT FAILS

In almost all scenarios, we recommend working with a trusted realtor when buying a house. Especially if you’re a first-time buyer. As a mortgage lender that’s been in the business for more than 29 years, we’ve seen these pitfalls firsthand.

 

HERE ARE SOME OF THE MOST COMMON

PROBLEMS THAT CAN OCCUR WHEN YOU TRY

TO BUY A HOUSE WITHOUT A REALTOR: 

 

  1. THERE’S A LANGUAGE BARRIER.

buying a house without a realtor

Real estate jargon is not for the faint of heart. Many times, a simple Google search may not be enough to translate the legalese on the housing contract you have in your hand. An experienced realtor can interpret, guide, and help.

A realtor who’s fluent in “real estate speak” can pay off in more ways than one. Kathryn Bishop, realtor at Keller Williams Realty in California, explains that a great realtor knows how to write a seller’s promotional material that features a home to attract buyers. When using a realtor to buy a house, a knowledgeable realtor can help you break down the language used in a listing to determine if a home is the right fit.

 
  1. 2. YOU DON’T LIKE WHAT YOU SEE.

buying a house without a realtor

There are literally thousands of homes listed for sale online, but your realtor may do you one better. Simply put, using a realtor gives you access to more homes and media outlets than if you go it alone, Reese Phillips, realtor at Berkshire Hathaway HomeServices in Georgia, confirms. Oftentimes, a real estate agent can provide you with listings that aren’t being actively advertised.

 
  1. 3. YOU GET STEAMROLLED.

buying a house without a realtor

A successful real estate deal is all about the art of negotiation. It may look like you’re saving money off the top by forgoing a commission, only to pay more for a house because of a gridlocked price. The negotiating table is where you’ll see a realtor’s commission as money well spent.

Bishop says that she regularly negotiates on behalf of her clients to get them the best terms and most competitive price. “A good realtor knows how to solve problems that crop up, whether it’s a financing issue, a title issue, or an emergency home repair,” Bishop adds.

 
  1. YOU DON’T KNOW WHO TO CALL.

buying a house without a realtor

A realtor who’s well-connected in the community is worth their weight in gold.

“A realtor is in touch with other people in the industry and will act as the hub for communications to those people — closing attorneys, title companies, surveyors, professional stagers, contractors, insurance agents, etc.” Phillips explains. A trustworthy realtor, Phillips says, can be a one-stop shop and cut down on a lot of time and energy that you as a buyer may not have to spare.

 
  1. YOU NEED SOMEONE TO SUPERVISE.

buying a house without a realtor

A licensed buyer’s agent is often required to be present at your home inspection and appraisal. If you’re not using a realtor, the seller’s agent may be willing to help — and may charge for their services.

Having a realtor with you in an unfamiliar home can also ensure your personal safety. Using a realtor offers layers of protection for a family and especially for a single woman when buying, Amy Kilcoyne, realtor at Keller Williams Realty in Florida, says. As a practice, realtors are trained to pre-qualify people before they come in to a home, Kilcoyne explains. A realtor can screen any outside people, like appraisers and inspectors, before they meet you at a property.

 
  1. YOU DON’T KNOW WHAT TO DO NEXT.

buying a house without a realtor

Did we mention that the sheer volume of real estate paperwork can be intimidating? It’s your realtor’s job to keep track of your documents and walk you through each step of the homebuying process.

 

Phillips also reminds us that realtors buy and sell houses for a living. Without the representation of a real estate agent, you’ll have to drastically alter your schedule to accommodate a seller’s requests and other needs at closing. Or, Phillips says, “You can let an agent do his/her job while you continue your daily life and prepare to move to your new home!”

 

The way we see it, having a good realtor and a good mortgage lender by your side makes it that much easier to get into the right house. Let us help you put together your winning team: We’ll start by getting you prequalified for a mortgage so you know how much house you can afford. After that, we’ll recommend a realtor we’ve successfully worked with in the past.

The majority of this article is from Gina M Chavez of Cornerstone Home Lending Inc. For educational purposes only. Please contact your qualified professional for specific guidance.

Sources are deemed reliable but not guaranteed. ®

 

 

Meet Jeff Masich, REALTOR® when looking to sell or buy a home in the Phoenix Arizona metro 

                                      Meet Jeffrey Masich, REALTOR® to get started

 

For, the largest metro area in the state, here are all single family all detached homes for sale in the Phoenix Arizona MLS.

 

If you are looking to move to Phoenix including Scottsdale or other areas of Arizona to buy a home in Arizona or sell a home in Arizona, contact Jeffrey Masich, Associate Broker and REALTOR®. I would be pleased to help you and look out for your best interests while finding you the right home at the right price!

 

Free MLS Search Arizona

                               Press FREE MLS Search to search for Arizona Homes and Land for sale with a focus in Central Arizona. Separately, if you wish to focus on other areas of Arizona including Tucson, Colorado River, Flagstaff, Show Low and Mogollon Rim cities check AZHomesLand.

Posted by

Jeffrey Masich, Associate Broker, REALTOR®, MBA, GRI, BS Accounting

HomeSmart

Scottsdale, Arizona

JeffMasich@ArizonaHomesLand.com

http://ArizonaHomesLand.com

480-242-6500

 

 

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