While many Americans appear to be favoring the concept of “do-it-yourself,” SmartMoney reports it may not be the wisest choice to apply that line of thinking to home buying. According to SmartMoney, the increased presence of online real estate listings and the rapid-fire way consumers can obtain and consume information lead some to believe they can buy a home on their own. However, those home buyers may be denying themselves significant advantages by not using a real estate agent.
It helps to have an ally
By hiring a buyers agent, a home buyer can align themselves with a partner who can negotiate on their behalf, find a home that suits them best and walk them through the process from start to finish, according to SmartMoney.
A real estate agent can make informed suggestions
Home buyers may think they have a good grasp of the local market, but any number of factors can make one property a better choice than another. A buyer’s real estate agent – particularly one that has a deep knowledge of the local market – can point home buyers in the right direction, providing them with an idea of how much they can expect to spend and finding them a property that suits their budget and desires,
reports SmartMoney. A home buyer’s agent can also recommend a home inspector, help lay out certain concessions to ask of the home seller and arrange a written offer that suits the home buyer, according to Investopedia.
Most times, an agent’s fees are folded into the sales price
According to SmartMoney, a home buyer may think they are saving money by not using a buyer’s real estate agent. In reality, the seller most often pays for a real estate agent’s services, and the buyer’s real estate agent generally splits the commission with the seller’s agent, SmartMoney reports. A buyer’s real estate agent has the knowledge and expertise to benefit the home buyer at the negotiating table, which could make it a smart move to hire one.