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Mike Cooper's Blog

By Mike Cooper | Broker in 22602

Do I really need a Realtor to buy a house?

Do I really need a Realtor to buy a house? 

Do I really need a Realtor to buy a house?  The simple answer is, "No."  The smart answer is, "Yes."  Anyone can buy a house without a real estate agent, but there are advantages to having an agent represent you in a home purchase. 

Last year, I sold a property for a wondeful family.  They had bought their home directly from the seller without representation.  When I did the preliminary CMA to determine value, I was surprised at what they paid for the home considering they bought it on the down side of the market collapse of 2008.  In my estimation, they paid $60,000 higher than the market was demanding at the time.

When we listed their home, they received an offer that was quite a bit lower than the list price, and they ultimiately gave concessions that dropped their return approximately $60,000.  With their original purchase price coupled with their concession dollars they actually lost $120,000 on their home.  Buying with an agent could have prevented them from spending more than they should have.

Why should you use an agent when buying a house?

  • An agent can help a buyer purchase in the price range a home should sell in.
  • An agent can help educate a buyer to the process of buying real estate.
  • An agent is a second set of eyes on a property that might be causing blindness in a buyer.
  • An agent can help a buyer find a good home inspector, lender, appraiser, contractor, closing attorney or title company who will look after the buyer's best interest.
  • An agent knows the real estate laws.
  • An agent can help advise a buyer through the negotiations.
  • An agent can look out for a buyer's best interest when the buyer isn't aware of the perils. 
  • An agent can be a buyer's first line of defense in a bad deal or a deal that has gone bad.

Why should you use a Realtor to buy a house? For a lot of reasons, but most of all, for peace of mind. 

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