Do I need a Realtor? A question often asked by home buyers when embarking on their home buying journey. Our answer is of course YES! Of course you do.
Buying a home is not like buying a car. Sure, there are similarities such as, the price you see may not be the price you pay and of course the element of intense negotiations. However, when buying a car, it is almost guaranteed your investment is depreciating the moment you sign on the dotted line. With a home purchase it is the exact opposite. Provided you listened to the proper advice when making this potentially life changing decision.
Without research on current market activity, trends and home values that come with the experience of a realtor you could end up over paying for a home and looking at little to no return on your investment for very long time. This advice and expertise comes only when you hire a professional that knows the answers. In short, you do need a realtor.
Negotiating directly with a home owner when making your purchase can be detrimental. Remember, home sellers have their own interests at heart (bless them). They also have a sentimental attachment to the property and its features or in fact, lack there of. Home sellers that are selling their homes themselves have also priced this property on their own without the advice of a service professional. The likelihood of this home being priced accurately is very slim as well. Putting you at serious risk of over paying for the home. You cannot guarantee that the home owner has received the advice of a realtor when pricing their home, because with that comes a contractual agreement. In that case you would be negotiating with their realtor.
Some home buyers will suggest going direct to the listing agent ( the sellers realtor) as they feel this will reduce commission costs for the seller and allow for better negotiations or a better deal. This is a very inaccurate assumption as well. In this case you REALLY need a Realtor. For reasons much the same as going direct to the seller that does not have a Realtor. Their Realtor has the sellers best interests at heart and secondly, you must never assume that a reduction in commission will be given. In some provinces in Canada this type of transaction isn’t allowed due to the “grey areas” in the representation and who is protecting who.
As a home buyer you need protection. You need a Realtor that will ensure your needs are being met and that your biggest investment is protected.
A Realtor’s services also go much beyond protection in over payment or negotiations. You need a Realtor to ensure against misrepresentations or inaccuracies, insurance against errors or commissions as well as access to land and properties not always accessible with your own research. Realtor’s have access to properties available much beyond what you see on the MLS (multiple listing service). You need a Realtor to connect you with the properties that meet your needs that may not even necessarily be for sale. Given that a Realtor is in the industry, they are in constant contact with home sellers that may not even list their home but are waiting for the perfect buyer, you.
You see, you do need a Realtor. I mean, why wouldn’t you choose to use a professional for even just one of the reasons listed about. Don’t forget, the services of a realtor for home buyers in most cases is completely free. Now that’s a good investment.
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