With mortgage interest rates at record lows, many people are considering the purchase of a new home to lock in a low interest rate and save money. For some, the temptation is to avoid working with a real estate agent in an effort to avoid paying commissions, typically as much as 3% of the sales price. Buying or selling a home without the help of an experienced Realtor can be a bad idea and is not recommended.Consider the following reasons to use a qualified agent when buying your new home:Professional Help – A Realtor has taken a comprehensive licensing course that covers all of the details required to successfully buy and sell real estate. Agents have also received a lot of additional training from their brokers, not to mention all of the experience a veteran agent has had with other transactions. A good real estate agent will know what to look for when buying a new home, how the contract should read and will know if anything looks out of the ordinary. They will also know how to effectively negotiate on your behalf – this alone could end up saving you thousands of dollars in the long run. Having a good professional on your side of the table when making such a significant purchase is generally a must do and will help ensure everything goes smoothly.
Local Knowledge – Real estate agents spend all of their time working a specific market and as the result, gain a very useful perspective that they can share to help you make the right decision. Agents will know current fair market prices, how long homes are typically listed before selling, where the best locations are and much, much more useful information. It would take a significant amount of time and effort to try to duplicate this knowledge on your own so there is a value in simply paying for it via the commission your agent will collect by helping you.
Database of Current & Potential Sellers – Because a real estate agent spends all of their time talking to potential buyers and sellers, it is very common that an agent will know of a great home that is about to go on the market before anyone else does. Real estate agents also have access to databases of listed homes with a lot of useful information listed that is generally not completely available to the general public. Armed with this helpful information will help you secure the best deal.
Dedicated Time Commitment – Once you tell your real estate agent what exactly you are looking for along with your budget considerations, they will constantly be on the look out for homes that fit your criteria. Keep in mind that they are compensated to help you find something that fits your needs. This motivation generally leads to the perfect new home in the shortest amount of time.
Third Party Representation – When it comes time to negotiate a deal, having a good real estate agent on your side to offer representation can make the process go very smooth. Having your agent negotiate on your behalf often times helps reduce the risk of becoming too emotionally involved, which can lead to bad decisions. Furthermore, your real estate agent has been trained to negotiate properly and will know how to get the best deal and then make sure everything is appropriately outlined in the contract.As always, not all real estate agents are created equal. If you are planning to buy a home, ask for some referrals from friends and family and interview a few different agents to find a great real estate agent to represent you – it can mean the difference in potentially thousands of dollars in savings, not to mention the right home.Make the buying process even easier by getting pre-approved for a loan before you begin shopping. Save time and money by Clicking Here to get up to four competing mortgage loan offers.