Realtors who are licensed members of the National Association of Realtors are considered by many buyers and sellers of houses as unnecessary expenses. They, after all, cut up to 8% of the total selling price of a property. For a seller, it means paying that percentage as commission and for a buyer, it means paying 8% more than the actual value of the property.
Despite the extra expense, using a realtor to buy a house is still a wise and practical decision. These eight reasons will tell you why realtors are a must.
1. They help you save money. Contrary to popular belief, using realtors to buy a house actually helps you save money. How? They know how to appraise a houses real value based from experience and some technicalities. That enables you to avoid overpriced houses. Likewise, although online searching is practically free, telephone calls, site visits, and open house visits are not exactly what you can call cheap.
2. They help you save time. Finding a house that you want takes up to three months, while negotiating to have it in the price you want takes up to six months. The time it takes to get bank financing belongs to a different timeframe.
Realtors can greatly reduce the time it needs to buy a house as they essentially know everything about the market in the areas they cover. They have updated home listing records, in addition to their existing real estate portfolios and clients. They are also master negotiators, so you do not have to play charades with a seller until one of you gives in to the pressure.
3. They find a credible and honest seller for you. They are like reliable computer antivirus and spam filters who can take out malicious files and spams. They can screen phone calls and invitations from untrustworthy and suspicious sellers. Every realtor belongs to a network that can give him or her tips about good and bad buyers and sellers, and that is all for your benefit.
4. They effectively negotiate on your behalf. They negotiate on a daily basis, and the experienced ones have handled all kinds of buyers and sellers you can imagine. The negotiation is the most crucial stage of buying a house because this is where you can save or lose money, and get more than what you pay for or compromise some of your requirements. Do not take unnecessary risks and definitely not leave the greatest financial decision in your life to chance.
5. They find the best options according to your budget and taste. Realtors have portfolios in their mind as they have seen hundreds of properties for sale before. They can give you options based on your criteria without having to scour existing home listings for days. The bottom line: they can make you understand what you really want, instantly.
6. They take away the stress of buying a house. Why spend a lot of your time stressing over the buying process if a realtor can serve as your buffer? Do not let unnecessary stress compromise your personal and professional lives.
7. They assist you with the legalities and technicalities of contracts. The real estate industry is a whole new world of jargons, specifications, brands, locations, forms, purchase agreements, disclosures, sales contracts, transfer agreements, and god-knows-what papers included in the documentary requirements when buying a house. An average real estate file consists of three inches of paper, so you can imagine how complicated this whole thing is. Clearly, buying a house is more than handing over the money.
8. They can recommend you to everyone you will ever need in the process. Always remember that a realtor is never just a realtor. He or she is your friend, and your friend is always friends with another realtor, a banker, a contractor, an interior designer, a landscape artist, a lawyer, a judge, and everyone whom you will need in the process of buying a house.