Why You Should Hire A Realtor: Buyer Benefits
Since purchasing a home is likely the single largest and most complex investment you'll ever make, it's wise to utilize the help of a Realtor who can guide you through this monumental step in your life.
A Realtor has a fiduciary duty to work as an advocate on your behalf, representing your best interests in the real estate purchase transaction. This means helping you find the best house, negotiate the best terms and price, and making sure the property disclosure requirements applicable to your real estate transaction have been met. An experienced Realtor also has invaluable knowledge about the community and the real estate market.
Realtors have access to comprehensive for-sale home listings data via a cooperative arrangement known as the Multiple Listing Service (MLS), which combines and markets virtually all of the for-sale home listings in a given area or region. Additionally, Realtors typically share new listing information with each other. Access to this inside track provides you the most up-to-date listings information that's available, and could lead you to a for-sale home that has not yet been posted on the MLS.
An experienced Realtor is a pro when it comes to negotiating the home purchase terms and price. The home seller's goal is to get the highest possible price for his property and your goal is to get the lowest possible price for the same property. It's in your best interest to enlist the help of an experienced and effective negotiator. Other issues likely to be negotiated can include the property's condition and needed repairs, the closing date, and the home's contents that will be included in the purchase price. Working with an expert negotiator is the only way to ensure that you and the seller reach a compromise that is reasonable and efficient, and results in the best possible deal for you.
Home sellers are required by law to disclose certain types of information about the for- sale home that could impact the property's appeal and your decision to buy it. The disclosure requirements can be complex and the laws vary by state. Only an experienced Realtor can help ensure the requirements pertinent to your real estate transaction have been met.
As a homebuyer, you have nothing to lose and everything to gain when you utilize a Realtor because it's the home seller who pays all of the commissions and fees associated with the home sale/purchase transaction.