When looking for a new home, you want to cut as many costs as possible and get the best deal in town. Most homebuyers are quick to assume that real estate agents are costly, but the truth is that they are not. A real estate agent can be the difference between getting a fair house deal and spending your money well or making a costly mistake when buying a house.
Click here to find out why you need a real estate agent when buying a house.
It is essential to understand your city’s codes when buying a house. This helps when making any changes to your property. A local real estate agent is familiar with local zoning laws and can guide you not to buy the wrong house depending on your goals. For instance, if you want to extend the house or add a structure in the backyard, an agent can ensure you buy property where the local authorities allow it.
Accessing available properties
A real estate agent has an extensive network of contacts that they work with within the industry. Hence, they know all the available homes in a specific location at a particular period. Some sellers don’t want the sale publicized in some cases, so only the agent knows the house is for sale. Liaising with a real estate agent gives you access to all the available homes and even exclusive property lists to help you find a home foster, unlike looking for one by yourself.
If you are a first-time homebuyer, it is not easy to tell if a property is overpriced or not. An experienced real estate agent can set the price of a property the first minute they walk in. They have data on the local real estate market and have watched deals or property transactions over the years. Hence they can help you with pricing expertise when buying a home.
You may not be good at negotiating the property price effectively, but a real estate agent is. It is easy to lose your cool, especially when you think that a home seller is overpricing a property, but a real estate agent brings objectivity into the deal. That saves you the trouble of emotional negotiation or getting too emotional over the deal. Remember that you need to assess the positive part of every offer and counteroffer.
The intricate paperwork
Real estate sales and purchases come with complex paperwork, including legal documents involved in the transaction. If you have bought a house before, then you know this all too well. The paperwork can be tiresome, especially for a first-time homebuyer. Note that offers and counteroffers usually have a limited timeframe, but a real estate agent knows too well how to navigate that because they are experts in the field. Working with someone who knows the paperwork involves is very advantageous.
The bottom line
A real estate agent can match you with the perfect property much faster, given their extensive network and experience. They can guide you towards the ideal property depending on your interests and must-have list.
Infographic created by Chicago Real Estate Institute, Helping To Get Prepared for Your Real Estate Broker License Chicago