Using a Realtor when buying and selling property is an investment. You’re going to pay them a commission, and statistics show you’re going to see a great return on your investment. It’s also a great way to avoid being sued. Hopefully this helps your decision when you ask Should I use a Realtor when Buying or Selling Property?
Some people don’t want to use a Realtor when buying and selling homes. Usually this is because they want to try and save on the commission normally paid to an agent. Craig Newmark the founder of Craigslist, as well as, Al Bennati, owner of buyowner.com both use agents to buy and sell homes. Keep in mind these are great business people with access to the best resources for selling homes without a Realtor, and they still use an Agent. This is because real estate agents save you money.
If you’re buying a home than you’re NOT paying an Agent’s commission, the seller is. Why wouldn’t you want a professional on your team for free?
A few of the common questions that will be answered within this article include:
If you spent the day in the life of a Real Estate Agent you’d have a better understanding of just how vital the role they plan in a real estate transaction is. A Realtor is your team’s Quarterback. They are responsible for knowing the ‘plays’ and where everyone is on the field. From home inspectors, to lenders, attorneys, title companies, etc. your Realtor will be the one driving the transaction forward and relaying information to all necessary parties throughout.
Whether you’re buying or selling a home, having a top local Real Estate Agent assist you with the transaction is going to be one of the best decisions you make. If you’re buying a home, they will guide you through every step and if you’re selling your house, they will implement the best marketing strategies so that your home sells fast for the amount you want. Regardless if you are buying or selling, expert guidance along the way is something only a realtor can provide.
By way of nature, humans are emotional creatures and more often than not we are driven to make decisions based on our emotions. Especially when it’s something we are emotionally invested in and care a lot about. Negotiating is a game of give and take and it’s easy to become upset during this stage – when you’re working with a Realtor you have a buffer, and they understand the goal of negotiations is to see if there is a win-win scenario for both buyer and seller. This is more ammunition to answer the question Should I use a Realtor when Buying or Selling Property?
Here are stats from NAR (National Association of Realtors) that reflect working without a Realtor:
It’s not as easy to sell your home for sale by owner as it was in the days before the internet. Before the internet selling your home for sale by owner was easier because shopping homes for sale was not convenient for buyers. Today, people can search homes for sale with ease. In a few seconds you can view every home for sale in Glenwood Springs, giving buyers many more homes to choose from, from the convenience of their living room, or anywhere in the world thanks to their mobile device.If your home isn’t being seen it may as well not be for sale. Without a Realtor your house is not being listed on the MLS and it is not being syndicated to tens of thousands of real estate websites around the world.
Would you rather be be the first person or the last person to know about a home for sale in a highly sought after neighborhood? When you’re buying a house you’re competing against other buyers. Chances are 9 out of every 10 buyers you’re competing against is working with a Realtor who is (if their MLS allows) instantly notifying their clients the second a property comes on to the market. So not working with a Realtor will put you at a significant disadvantage when buying a house. When it comes time to make an offer on this house, and there are three others next to yours all with Realtors, which offer do you think the sellers are likely to accept? Deals are far more likely to go south when there is no buffer for both sides, so it makes sense the sellers would want to take the offer that is most likely to reach the finish line.
Unless you’re been in a real estate transaction before, you probably don’t understand just how common it is to become overly emotional and make bad decisions based on your emotional state. This is one of the home buyer mistakes we see most often. Too often a buyer misses on a house with multiple offers and settles for the next property they see, even if it isn’t one they want! This is because they become emotional after missing on a house, and this causes the buyer ‘pain.’ Your body has a self defense mechanism to protect you from these types of feelings, and naturally, you want to feel better. So you draw the conclusion that buying anything will make you happier than being patient. The same logic applies to selling a home without a Realtor.
Chances are you are not buying and selling homes every day, or constantly surrounded by real estate lingo, questions and different scenarios. This is where your Realtor comes in. When buying a home there are certain things that need to happen in order for you to reach your goals. You’re going to want to ensure you receive the best possible deal from your mortgage lender so make sure you talk to at least three, and let them all compete against one another. I’ve had clients go from a 4.0% interest rate to 3.5% simply because they let them compete vs. one another. After hearing this can you should feel more comfortable answering the question Should I use a Realtor when Buying or Selling Property?
With hundreds of thousands of dollars at stake you’re not going to want to make any mistakes when buying or selling real estate. Buying and Selling with a Realtor decreases the chances of any mistakes significantly, especially since there are so many checks and balances in place for Agents and firms. If there is even the slightest thing wrong with the paperwork the firm will request that it be fixed. This is going to protect you big time in your transaction.
After reading this article hopefully you are well equipped to answer the million dollar real estate question of: Should I use a Realtor when Buying or Selling Property?
When you make you decision and say “YES!” contact me and I am glad to help:
Shawn Manwaring, Broker Associate