There are times that working with a realtor makes perfect sense. For instance, if you’re selling your current home and buying a new one, working with a realtor is a “no-brainer”. However, what if you’re looking to buy without selling a home? Do you really need to work with a realtor? The answer is yes, but you should understand why that’s the case.
Dealing with the Seller’s Agent
You can bet that the person selling the home has an agent of their own. This is the person you’ll be dealing with during the purchase of the property. If you don’t have your own realtor, you’ll be representing yourself here. Never forget that the seller’s agent is working to get the best deal possible for the seller – they’re not interested in helping you out. In fact, it would be against their code of ethics, and would violate their agreement with the seller.
You’ll find that in addition to representing you in negotiations for the property, a realtor can offer many other types of help. For instance, he or she can provide comparable sales from the tax rolls, or data from the MLS. They can give you copies of the home’s historical documents, and run reports on sales-price ratios. They can suggest pricing strategies, help you review documents for loopholes, and more. Most importantly, they form a buffer between the seller and the seller’s agent, and you.
If you’re going it alone, there’s no guarantee that the seller or builder’s appraisal is even close to the mark. Working with your own real estate agent ensures that you know exactly what the appraisal is and how that will affect resale of the home years down the road.
Working with a realtor when buying a home is essential, but make sure you choose the right one.