Searching for a new home can be exciting, overwhelming and even frustrating at times. Most people hire a real estate professional to assist them in finding their dream home. A realtor can help you in various ways, this article will cover the pros and cons of hiring a real estate professional.
Pro – Knowledge and experience
There are many benefits in hiring a realtor to help you find that perfect home. If you are just starting your house hunting journey, then it is definitely worth your money to hire an agent to assist you on your home search. These agents have knowledge of what homes are out there and available to you. They speak daily with other agents, know what properties are hot on the market, which ones to avoid and how to home search effectively. A realtor should also be able to tell you everything you need to know about the area you are considering.
Pro – The agent handles all negotiation and paperwork
This is another common reason why buyers hire a professional agent. The realtors handle all negotiation between you and the seller’s agent. They also take care of all paperwork, including any required legal documents. Your realtor can walk you through any contract provisions, expenses, taxes, escrow and explain what steps you will go through during the final settlement.
Pro – They schedule the showings
A realtor can easily schedule times for you to visit the properties you are interested in without worrying about the seller being home. They easily have access to a phone and internet system that is set up exclusively for agents to schedule showings with ease.
Pro – Advice on finance
Your agent can direct you to an experienced broker or lender that will assist you with your financing. They usually work with a great mortgage broker that they have positive experiences with, and trust in their expertise.
Con – Can’t do it all on your own
House hunting with a realtor means that everything that happens must be done with your realtor. You cannot go out on your own to look at houses unless it is an open house situation. This means, if you wish to look at houses on a certain day and your realtor is not available, you will have to reschedule. In most cases, realtors have another coworker that can fill in for them if absolutely necessary. You will sign a contract with your agent in the beginning that requires you to use them as your realtor for a certain period of time. Once that contract expires, you are free to use whomever you would like or go house hunting on your own.
Con – Realtors handle all negotiations
This part can be both good and bad. The bad part of your realtor handling all the negotiating is that you really need to trust your realtor to make sure they are representing you the best way possible. Once you hire a realtor, you are not able to directly speak to the sellers or their realtor. All negotiations are done through your agent.
It is easier than ever to search for a home without hiring a realtor due to the internet and the Multiple Listing Service. However, hiring a professional realtor can greatly benefit your search and save you a lot of time. These professionals know how to get you the house you want and where you want it. If you don’t have any experience in the business of real estate, then it would be your best bet to talk to an agent who can give you helpful advice.