Real Estate Agents Increasingly Vital to Home-Buying Process
By Keith Loria
In a recent study conducted by the National Association of REALTORS®, it was discovered that 89 percent of all homebuyers purchased their new home with the assistance of a real estate agent or broker.
Ten years earlier, a similar study revealed that only 69 percent of buyers used an agent. While going through the process of looking for and buying a home can be overwhelming, it’s clear to see that consumers have wizened up to the importance of using an experienced professional to find the home of their dreams. After all, buying a home is not like shopping for a new car or television; you need to have someone who is educated and experienced by your side to help you navigate through all the properties and find the one that’s ideal for you.
According to the NAR release, “More than ever, homebuyers are relying on real estate agents and brokers to help them with their home purchase regardless of whether the home they are buying is a foreclosure, short sale, or even a FSBO sale because they need a real estate agent to help them through the process.”
Not only will an agent serve as a friend and confidant, they will also be your biggest ally as they fight to get you the home you want at the best price possible.
Any buyer who decides to take on the job of looking for a home on their own is taking on an enormous amount of work and responsibility. With so many listings on the market today, someone working on their own is at a definite disadvantage when it comes to seamlessly navigating through a real estate transaction.
Those that choose to search for a home without an agent by their side will need to invest enormous amounts of time researching legalities, technicalities in sales contracts, negotiating strategies, comparable properties and the current condition of the local real estate market. Of course, a real estate agent will be current on all of this, plus have a few industry tricks up their sleeve.
While buyers may find some great deals in this market, short sales and foreclosures can cause them to get lost in the process due to the intricacies of the contracts. An agent will know how to handle these items, and more.
An agent can also explain the pros and cons of each house you see, the neighborhoods you look at and provide up-to-date information on the school districts in the area. In addition, they will steer you away from houses that don’t fit your criteria because they understand the lingo better than someone looking on their own. This will save you time and energy.
Real estate agents can also make the whole house hunting process easier as they will take the initiative and set up showings, drive you to appointments and help you handle the intricacies of negotiations.
When you consider all the ways an agent can help you throughout the process, having one by your side can make a huge difference.