Can I buy my home without the assistance of a realtor? This is one of the decisions that you have to make on your own before you get started on the home-buying process. A real estate agent can help you in finding the perfect property and negotiate on your behalf. However, there are millions of people outside there that have bought their homes without involving an agent, and the plethora of real estate tools you find online has made it even easier.
Why People Buy Homes without the Help of Realtor
Using a real estate agent doesn’t always mean that you’ll save more money. In fact, you may end up spending more out-of-pocket. When the seller is forced to pay the commission of your agent, they will raise the selling price. Additionally, some buyer’s real estate agent agreements include clauses that state the commission the agent gets during any home purchase even if you discovered the listing yourself.
Buying a Home without an Agent
If you have the time to find listings and you’re comfortable speaking with sellers, then you may be better off house hunting by yourself. To get started, first come up with a strategy on how you can keep track of homes that you view and information you acquire during your visits. Before looking at houses, ensure that you have been preapproved for a mortgage. This way, you will stand a better chance of purchasing the home you want.
When you find a house that you like, write an offer letter expressing your interest to purchase it. Keep in mind that you may need a professional home inspection. A home inspection will help you determine the current state of the house you want to buy, and the repairs that may need to be done.
Reasons Why You May Need the Help of a Realtor
Hiring a realtor can help you save a lot of time and money. Some of the services of a realtor include:
- Finding listings and visiting homes with you: A real estate Olathe KS realtor will provide you with more listings than you would find by yourself (including those for sale by owner). This can help you avoid paying more for a property.
- Recommend important services: Your realtor will connect you with home inspectors, mortgage lenders and other individuals that you need to work with.
- Negotiate the price: Your realtor will work as the link between you and a seller or the seller’s agent.
- Help with the paperwork: The home buying process involves a lot of paperwork and you may need professional assistance.
For all these services, your realtor will typically earn a commission of 1 to 3 percent. However, as the homebuyer, you won’t pay this because the seller often pays the buyer’s agent fee.
After buying a few homes and get accustomed to the home buying process, you can go ahead and buy homes on your own. However, if you’re not an experienced home buyer, it’s advisable to hire a buyer’s agent. Besides, the National Association of Realtors describes buyer’s agents as ethical, honest and experienced, and they can provide superior customer service to turn your dreams into a reality.