Have you been looking to buy a home? Wondering if you should try it without a realtor? Are you wondering the reasons why people hire a realtor? Below we will go over 6 important reasons to hire a Realtor.
What is a Realtor?
The term REALTOR® has one meaning:
REALTOR® is a federally registered collective membership mark which identifies a real estate professional who is a member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics.
I’m here to tell you all the reasons why you should hire a realtor. It can be one of the best decisions you make.
The 6 Important Reasons to Hire a Realtor are:
- Knowledge
- Search power
- Negotiating power
- Connections
- Emotional Shoulder
- Code of Ethics.
Buying a home will most likely be the largest purchase of your lifetime. Now is not the time to try and navigate this difficult purchase alone.
I was a realtor for over 15 years. I worked with both buyers and sellers. I spent my first few years as a realtor working with an experienced realtor. This allowed me to learn the business from a seasoned professional. I was able to take that knowledge and grow my business. With that experience, I was able to help my client with all of these aspects of buying a home.
Below I will explain all the reasons to hire a realtor. I will explain why these reasons are so important.
Knowledge
They are full of knowledge from their years of experience. They can give you advice about prices, locations, schools, and so much more. Once you are ready to buy, you will want to hire an agent who is an expert in the area that you would like to buy. They will guide you through price ranges for that area. They will give you information about what school district this house is in. They will help you find the house that fits your needs.
They will also guide you to look for the important things in a home. Too many buyers are concerned with paint colors and cosmetic items. When they should be looking at the age of the roof and HVAC system. Realtors have the knowledge and experience to look for big-ticket items. This knowledge can save you big money in the future.
A realtor will guide you from start to finish. This is a complex process, but they know how to walk you through, step by step.
Search Power
Realtors have search power through:
Multiple Listing Service (MLS)
The MLS is a catalog for realtors to search for active, pending, and sold listings. This gives them the ability to find you homes that fit your criteria. Criteria can be anything from the number of bedrooms to a certain school district. The MLS is a wealth of knowledge, only available to realtors.
The MLS gives them the power to analyze sold homes, and to help you make an informed offer to buy a home.
Pocket Listings
A Realtor can also find homes that are for sale as Pocket Listings. A Pocket Listing is often referred to as an “off market” listing. This is a property that a seller has told an agent that they would like to sell, but do not want to put on MLS.
Past Clients and other Realtors
Realtors may also have a client that was “thinking” about selling. They may also be able to find a home for you from their past clients. They may also know another realtor who is getting ready to list a home that fits your needs.
These are all examples of Search Power and one of the reasons that you should hire a realtor.
Negotiating
Realtors are skilled at negotiating due to their experience and relationships. They are ready to negotiate many different items on a contract. This can include purchase price, financing terms, closing costs, closing date, inspection items and more.
They will have negotiating power based on their relationships with other realtors. They know the right questions to ask. This is another example of reasons to hire a Realtor.
Connections
Connections are so important to a Realtor. This is based on years of networking. Realtors can recommend attorneys, inspectors, local lenders, repair companies, and more.
One of the most important connections is a local lender. Realtors can provide you with recommendations of great lenders to work with. Be sure to check out my blog post about the different types of mortgage loans. Finding the right lender is so important.
You will need a lender to get you started with the home buying process. They will get you a pre-approval letter. This letter will show you how much you can spend. You will need this letter to start making offers on properties. Check out my full post about why you need a pre-approval letter…especially in 2022.
Emotional Support
You are probably wondering why a realtor will provide emotional support. This is something that you didn’t even think about. Have you ever made a poor decision because your emotions got in the way?
A realtor is there to take the emotions out of the equation. They will guide you to make the right decisions when you get emotional. And believe me, you will get emotional. Remember this is one of the biggest purchases that you will make in your lifetime. It’s easy to get upset and make poor decisions. They will make sure to keep you on the right track.
Code of Ethics
As a member of the National Association of Realtors, every member must adhere to the Code of Ethics. This code is based on professionalism, serving the interests of clients, and protecting the public. Here is the complete guide to the code of ethics.
Hiring a Realtor can be one of the best decisions that you make when buying a home. Check out this article about finding a realtor. Take your time and be sure to find someone that fits your personality. Working with a realtor is a long process, so be sure to find the right fit.
Now you understand the importance of hiring a professional. Buying a home is a big step…. Now is the time to step back and let the professional do their job.
