It is not a legal requirement to work with a real estate agent to buy a home, but here are seven reasons why you should consider doing so:
1. Market Knowledge Of Fair Purchase Price.
A solid real estate agent will have their thumb on the pulse of the real estate market and can best advise you on whether a particular listing is the best fit for you or if you should be patient and wait for another opportunity .
2. Advises On Anticipated Cost Of Improvements.
An honest real estate agent can tell you how much it will likely cost to make anticipated improvements to a home so you can determine a fair offer price.
They can also introduce you to quality contractors to make those improvements once the purchase has been completed.
3. Brings To The Table A Team Of Trusted Advisors.
An experienced real estate agent will not only add value with their services and expertise, but will be able to recommend a quality mortgage broker and home inspector.
In addition, because the real estate agent works with the mortgage broker and home inspector on a repeat basis there will be added accountability for them to be responsive and to provide quality services for a fair rate.
4. Provides Additional Purchase Options.
A savvy real estate agent will provide you with additional options. For example, you might have your heart set on a particular condo across the street from At&t Ballpark but a good agent will provide you with additional listings to make sure that condo really is your best option and to at least consider some alternatives.
5. Off Market Listings.
Some of the best deals are never listed on MLS. A well connected real estate agent can sometimes present you with "pocket listing" opportunities that the real estate agent heard about through word of mouth that have not hit the open market yet. Pocket listings can be particularly important in a hot real estate market to possibly find you a purchase option at a good value before it hits the open market.
6. Attention To Non-Market Disclosures.
A knowledgeable real estate agent will be able to spot any non-standard disclosures made by the home seller that might indicate future homeowner problems. In addition, a solid real estate agent will know the professionals who can provide accurate estimates of what it will cost to fix those problems once they pass from being on the home seller's plate to being the home buyer's problem.
7. It's Free!
If you do not purchase a home, your real estate agent will earn no commission. Even if you do purchase a home, your real estate agent's commission will be paid out of the sales price of the home by the seller at closing. In California, if you are not represented by your own real estate agent the seller's real estate agent can get both sides of the commission. You might as well be represented by a zealous advocate of your interests instead of having the seller's real estate agent theoretically represent both your interests and the seller's interests so they can earn twice the commission.
Are you looking for a rock star real estate agent to help you find the perfect home? Please e-mail us at Doug@BLGProperties.com or call us at (415) 295-6370.