Do You Really Need a Realtor?
These days, a lot of buyers and sellers are using online apps to look at available homes and view nearby properties for sale. Some sellers still list For Sale By Owner and if you haven’t purchased real estate in the last 20 years, chances are good you may not be familiar with the concept of buyer’s agency. So the question is, do you really need a Realtor? What are the benefits?
The bottom line is that a Realtor works FOR THEIR CLIENT so that the client can focus on the other things in their lives that don't stop for a real estate transaction. People work, have families, and a hundred other obligations and responsibilities. You can't stop life so that you can become an expert on real estate transactions, just like you wouldn't suddenly go to medical school when your kid gets sick. Realtors are experts in this field, and are here to help so that you can continue to live your life while finding your next home and preparing your family for a big move! But let's break it down...
What a Realtor offers for Sellers:
- Knows the local market and can help you set a fair market price based on current and recent activity and your home's condition
- Helps with staging and has experience and resources to properly advertise your property
- Coordinates virtual and in-person showings
- Reviews offers and contingencies and can advise you on any issues with your home to protect you from later objections
- Makes sure that all the paperwork is in order, including seller's disclosures, and that all conditions meet legal requirements
- Owes fiduciary responsibilities to Seller, within limits of the law: Loyalty, Confidentiality, Disclosure, Obedience, Reasonable Care and Diligence, Accounting
- Handles escrow and closing
- Peace of mind!
What a Realtor offers for Buyers:
- Almost always compensated by the Seller (i.e. no cost to the buyer)
- Loyal to the Buyer and looks for Buyer's best interest (if trying to purchase without a Buyer's Agent, be aware that the Seller's agent only needs to look out for the Seller's best interests)
- Has access to local MLS to review up to the minute Active and Coming Soon property listings that meet your needs
- Familiar with all local and current real estate values, taxes, costs and services that could affect your purchase
- Helps you to work with trusted lenders to determine what you can afford and evaluate financing methods
- Arranges for virtual and in-person showings
- Paperwork! Reviews seller's disclosures and HOA paperwork as necessary, reviews any title issues, and writes your offer with any recommended contingencies
- Coordinates inspections and assessments
- Submits your offer and negotiates on your behalf
- Owes fiduciary responsibilities to Buyer, within limits of the law: Loyalty, Confidentiality, Disclosure, Obedience, Reasonable Care and Diligence, Accounting
- Handles escrow and closing