In a rough economy, saving money ranks high on nearly everyone’s priority list. Due to the current near record-low interest rates, many people are buying homes, but as a cost-savings strategy, are attempting to purchase without an agent. Buying a home is an experience that is both complex and at times overwhelming. What these individuals fail to realize is that trying to cut corners and go through the process without an agent might end up costing them more.
A real estate agent is great for a number of reasons. For starters, they are fully equipped with neighborhood and market knowledge that will give you leverage in the sales process. They fully understand current market values in ways that most buyers on their own do not. If you offer a price that is way below market value, you run the risk of never hearing back from the seller. On the reverse side, offering more than market value might counteract any savings you were trying to achieve by not hiring an agent in the first place.
In addition to their vast knowledge, agents also serve as buffers to any outside parties. With all of the inspectors, mortgage loan brokers, and any other outsiders involved with the process , having a middleman to deal with the mountains of paperwork, as well as the headache of negotiations, alleviates many of these burdens and responsibilities from the buyer.
Having an agent also levels out the playing field. Most sellers and their agents prefer to work with a buyer who is represented by an agent. When you buy a home without an agent, you cannot rely on the seller’s agent for advice or contract help, as they are only focused on their own client’s needs. When one side of the transaction has a real estate professional and the other does not, it’s obvious which side is in control. You regain that control when you have an experienced professional on your side to even it out.
Buyers who attempt to represent themselves may have knowledge that’s limited to what they’ve read online or in home-buying books. This information however doesn’t represent all of the housing market rules and regulations. Agents can tell you more than any book can from their experience of working with buyers and sellers.
Warren Residential has many Boston realtors who can help you navigate through this complex process. Contact them today to find out how they can offer their services to make your buying process a more pleasant experience. Also view our online listings of Boston real estate for sale!
