Here's my advice: don’t try to buy a house without working with a Realtor!
If you don’t believe me, read on to understand why it’s so important, and to your smart home-buying advantage!
When it comes to buying a house
, you don’t need to know it all. In fact, it’s better that you don’t. You have heard the expression: a little knowledge is a dangerous thing. Well, if a little bit of knowledge gives you the false impression that you don’t need to be surrounded by professionals, then, yes, it is dangerous. It’s so important to “know what you don’t know.” To be a successful homebuyer, you need to rely on the expertise, knowledge, and professionalism of the experts.
Realtors know the business inside and out. They have experience with each and every step of the home-buying and selling process. They are the experts in a number of areas critical to the process, whether you’re buying your first house, or your fifth. I always work with a Realtor. Always. Even if by some chance I have come across a property on my own or heard about one, the first call I make is to my Realtor to put his professionalism into action and to put the deal together.
Here’s what a Realtor’s got that we don’t:
- Access to every home that’s on the market via the MLS (Multiple Listing Service) and all other sources, including ones that may not be listed publicly
- Inside track to the deals before they even hit the market
- The ability to combine your "Dream House Checklist" with your price range
- Knowledge of recent comps (comparables)—what similar properties have sold recently and for how much
- Knowledge of neighborhoods
- Ability to negotiate with the sellers on your behalf
- The inside scoop from the sellers’ agents
- Expertise to negotiate and close the deal
- Experience to manage the legalities of foreclosures or other distressed properties
- Muscle to get a deal through the escrow or “under contract” period
- A litany of referrals for inspectors, mortgage brokers, and even tradesman for renovations
- Objective professional advice when you have your buyer’s remorse meltdown