Researching homes for sale is easier than ever since you can find a wealth of information about them online. Many consumers have decided to forgo the help of an experienced real estate agent, and find a property on their own. But is doing so a good idea, or can it lead to costly mistakes?

Below, we’ll take a closer look at the value an agent can offer when you’re looking for a house. The following represent areas of expertise in which most consumers can benefit.

“Inside” Information About The Neighborhood

Real estate agents tend to specialize in their chosen neighborhoods. They’ll know about market conditions, schools, new development in the area, and myriad other details you might find valuable. They’ll also be able to share specifics regarding other homes for sale.

For example, your agent may know that a particular property has dropped out of escrow multiple times over the past several months. She’ll have – or can retrieve – data regarding how long certain houses have been on the market. You might be able to uncover this information on your own, but doing so takes time.

A Professional’s View On The Local Real Estate Market

Comparing a home on the market to others in the same neighborhood provides insight into whether a particular deal is attractive. To this end, your agent will be able to research the appraised values of similar properties; he can compare the average ratio between initial listing prices and final sale prices; and he’ll be able to provide the average number of days listed.

This data will reveal whether demand is rising or falling in the local market. It can give you leverage when the time comes to negotiate prices with sellers.

Documentation, Deadlines, And Other Details

During escrow, you’ll need to file a number of documents by certain deadlines. First-time homebuyers may find the process daunting, and difficult to manage. Also, keep in mind some documents, such as the offer-to-purchase contract, must be thorough in order to protect your interests. A single, omitted detail can expose you to a lost deposit, lawsuits, and more.

Your real estate agent will help you manage these details. He or she will make sure the right paperwork is submitted by their respective deadlines. Your agent will also ensure the offer-to-purchase contract is watertight.

Ability To Negotiate Without Emotion

A lot of homebuyers become emotionally invested in the purchase of their chosen property. For example, they may think they have finally stumbled upon their “dream house.” Or, they might like a property, but despise small, easily-resolvable features. Their aversion may threaten to wreck the buying opportunity.

Being emotionally involved in a property limits your ability to negotiate the seller’s price. Because your agent is not invested in that way, he or she can stand in for you during negotiations.

Better Access To Attractive Homes For Sale

Even if you have online access to the MLS, you’ll lack many of the details that would otherwise be helpful. You’re unlikely to have the time available to visit more than a few homes for sale in your preferred neighborhood. Armed with little more than the MLS, where would you begin your search? Price range alone is rarely enough to limit your pool of choices.

Your real estate agent can help you narrow the field to properties that match your criteria. He or she can also contact the sellers’ agents to set up appointments and schedule visits. While you can accomplish this on your own, it can be a high-maintenance process for the unwary.

Don’t underestimate the value of an experienced agent when looking at homes for sale. Many would-be homebuyers are tempted to forge ahead on their own in order to save the commission. You’ll likely find the commission your agent earns is fair compensation for the value he or she provides.

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Category: Real Estate
Keywords: real estate, real estate agent, homes for sale, home shopping, shopping for a new home