The idea of doing the work yourself when looking to buy or sell your home can seem daunting to some and simple to others. In the Homestead, South Miami Dade and Florida City areas, we see most buyers and sellers working with agents. However, we realize that sometimes we all need a little reassurance about why we’re spending our money on certain goods and services, so we’ve put together this list for you.
For most of our clients, the services that a real estate agent brings to the table are indispensable – access to your local MLS (multiple listings service), experience with contracts and negotiations, local expertise. But for a few, the go-it-alone method seems like a feasible option. Some people think the stress and risks involved might be worth it if they can save a few bucks on a realtor’s commission.
Here are 5 reasons why you can’t afford to buy or sell a home without a professional by your side.
1. You Will Save Precious Time. A real estate agent’s full time job is to act as a liaison between you (the buyer or seller) and other agents. While you are at work, caring for children or enjoying a vacation, your agent is tracking down properties that meet your criteria, corresponding with the agents and making appointments for you. The time you save doing research, playing phone tag, answering questions and coordinating schedules for appointments is invaluable.
2. Negotiating a Deal is Tricky. As a buyer, you might like the idea of corresponding with the seller directly to negotiate a deal. Maybe you have a lot of success in your professional life, but talking a loving homeowner down on their price is very different than a settlement in your company’s boardroom.
If you hate the lime green bathroom and the blue shag carpet in the living room, you need outside professionals to tread lightly with the owner. They can discuss the home’s value and need for renovations from a professional perspective without hurting feelings. In many cases, the seller sees a beautiful home full of memories and is blind to it’s outdated decor.
3. Signing on the Dotted Line Without Expert Advice is Downright Dangerous.Experienced real estate agents see the same contracts, stipulations, exceptions and conditions over and over again. They know how to protect you, whether you are buying or selling a home. If you don’t use a professional to review your contracts, you are putting yourself at risk.
For example, the Offer to Purchase Contract protects you, allowing you to back out if certain conditions aren’t met. If you don’t know that financing should be one of the conditions of the sale, you could lose your deposit and get sued if you don’t end up qualifying for a mortgage. Your real estate agent will know about this and many more important contract items to protect you.
4. You Won’t Necessarily Save Money. If you are buying a home sold by an owner, you might expect to save money since an agent isn’t involved. However, unless you and the seller agree to split the savings, you will not both see any money from skipping the commission payment. Plus, the small amount of money you spend on a real estate commission to get the job done right the first time can be far less than the amount you may spend later on if mistakes are made along the way.
5. You Can’t Survive Without the Expert Insight. When listing your home, your agent can give you the most up-to-date information about what is happening in the real estate market in your area. Your agent knows the local competition intimately and is the best source for getting your home sold quickly. He can recommend improvements, marketing strategies, pricing and more.
In short, not using a real estate agent is not worth the hassle OR the risk! Anywhere in South Miami Dade county – Pinecrest, Homestead, Cutler Bay, Florida City areas – Bishop Realty are the experts you can turn to for all your real estate needs.