Why You Should Hire a Real Estate Agent When Purchasing a Home
If you have recently decided that you are ready to become a homeowner, you are probably wondering what to do first. It can be difficult to know where to begin, but the good news is that you do not have to do it alone.
There are numerous moving parts when it comes to purchasing a home. This is especially true in today's real estate market. The number of available homes for sale remains low, and home prices and mortgage rates remain high. If you do not have reliable expertise and a trusted advisor on your side, that combination can be tricky. That is why contacting a local real estate agent is the best place to begin.
Agents Are the #1 Most Useful Source in the Buying Process
The latest annual report from the National Association of Realtors (NAR) finds recent homebuyers agree the #1 most useful source of information they had in the home buying process was a real estate agent. Let’s break down why.
How an Agent Helps When You Buy a Home
A real estate agent may come to mind as someone who takes you on home showings and prepares paperwork, but a great agent does so much more. It is not just about being a facilitator for your purchase; it is about being your guide through every step.
The visual below shows some examples from that same NAR release of the many ways an agent adds value. It includes the percentage of homebuyers in that report who highlighted each of these benefits:
Here's some more context on how the survey results indicated that an agent consistently assists buyers in these situations:
- Helped Buyer’s Understand the Process: Do you understand the distinction between an inspection and an appraisal, what each report entails, and why they are both necessary? Or that there are certain things you should not do after applying for a mortgage, such as purchasing appliances or furniture? An agent is familiar with all of these best practices and will share them with you along the way, ensuring that you do not overlook any important steps by the time you get to the closing table.
- Pointed Out Unnoticed Features or Faults with the Home: A real estate agent also has a lot of experience evaluating houses. They have seen everything. They will be able to point out things you might not have noticed about the house that could influence your decision or, at the very least, what repairs you request.
- Provided a Better List of Service Providers:There are many people involved in a real estate transaction. An agent has worked with various professionals in your area, such as home inspectors, and can help connect you with the professionals you require for a successful experience..
- Better Contract Terms and Price: Did anything come up during the home inspection or appraisal? An agent will assist you in re-negotiating the best terms and price for you, so you can feel confident in your large purchase.
- Improved Buyer’s Knowledge of the Search Area: Moving to a new town and unfamiliar with the area, or staying nearby but unsure which neighborhoods are the most affordable? In either case, an agent knows the area like the back of their hand and can assist you in finding the ideal location for your needs.
- Expanded Buyer’s Search Area: And if you’re not finding anything you’re interested in within your initial search radius, an agent will know other neighborhoods nearby you should consider based on what you like, what amenities you want, and more.
If you are looking to buy a home, do not overlook the many ways an agent can help you. Your agent will know how to handle any obstacles that arise, as well as any negotiations that must take place, while minimizing your stress along the way. Let’s connect to tackle this together.