Why BUYERS need Real Estate Agents!
There is tremendous value in utilizing a competent agent/team when searching and attempting to purchase a property. It is no easy task in this environment. Buyers do not pay commissions so they are essentially getting our services for FREE, as the seller is paying ALL commissions.
Many buyers INCORRECTLY believe that by CIRCUMVENTING and avoiding the use of a REALTOR, that they might somehow save money on the purchase because the agent commission is no longer paid. That is not true. In fact, listing agreements allow for the listing agent to collect the FULL FEE, regardless of how many agents are involved in the transaction. The listing agent will ultimately make more money and WILL NOT pass any saving along to the BUYER. Additionally, the listing agent will first and foremost look to protect the seller's interests above all.
Here are a few more reasons to use KAPITAL BROTHERS to represent your BUYING INTEREST.
For Most Homebuyers—Buying a Home Without a Realtor Is a Bad Idea
Unless you’re ready to handle the many demands of a real estate buyer’s agent, you might have trouble purchasing a home without one. Here are four reasons to reconsider whether going it alone is worth it.
1. The Homebuying Process Can Be Time-consuming
You might think it is easy enough to find a home online without the help of an agent. But an agent will lead the search, quickly finding available homes that pop up during the day and helping you discern which ones are best to tour. The search can become all-consuming if you’re in a hot market and need to act within days, if not hours. Add in scheduling all the home visits, conducting price negotiations and navigating all the paperwork, and it could seem like you’re working another full-time job.
2. You’ll Have Limited Access to Listings
Agents have many tools at their disposal when looking for homes, including access to the Multiple Listing Service (MLS), which provides a comprehensive view of all homes available in an area. Although you can find many of those homes using an online search through, for example, Zillow or Realtor.com, there are still “off-market” listings that only real estate agents can see.
3. It May Be Difficult to Understand the Market
You might be looking for a home in a town you grew up in or have lived for many years, where your knowledge can be a valuable asset. But real estate agents who specialize in a particular area might have even more expertise than you, especially if you start looking at homes in communities and neighborhoods with which you are less familiar. From school districts to nearby amenities, real estate agents are often local experts and are well-positioned to help you figure out if a home or neighborhood matches your wants and needs.
4. The Homebuying Process May Be Confusing
Buying a home is not as straightforward as, say, purchasing a vehicle. Buyers and sellers must follow state and local regulations, and buyers need to make sure they’re not missing key details that could cost money. A purchase contract, for example, should include precisely worded contingencies that address whether you can withdraw from a purchase if certain problems turn up during a home inspection and whether you can move the closing date back if you have problems selling your current home.
The other key components to getting your dream house NOW!
- Get pre-approved for a loan. If you want to be a serious bidder for a home, you need to lock down your finances so the seller knows you’re ready to buy. Pre- Approval involves more paperwork than pre-qualification, but it’s the strongest assurance you can get from a lender that you’re ready for a mortgage. KAPITAL BROTHERS has many trusted relationships with mortgage brokers, banks and lending institutions that can assist you immediately.
- Hire a real estate attorney and/or title agent. Unless you have an extensive background in real estate purchases, you are likely to be overwhelmed by the paperwork, which can include offer letters, title records, bill of sale and disclosure statements. As the buyer, it is in your best interest to make sure all documents are in order and that you’re not making the wrong moves, starting with the offer and purchase contract. Having a team behind like Title Alliance (our in-house partner) is essential.
- Conduct research. Even if you’re buying a home from a family member or a newly built home from a builder, you need to review the sale prices for other, similar homes in the area to make sure you’re getting the best deal. If you are casting a wider net, you could focus on just “for sale by owner” homes that might not involve an agent.
- Make sure you hire competent Inspection Companies. As soon as you have a deal on the purchase price, schedule a home inspection and pay close attention to the issues in the home. KAPITAL BROTHERS has a good handle on who the leading inspectors are (as it relates to all things real estate … roof, termite, mold, etc.) This is not the time to leave anything to chance. After all inspections have taken place, our team (on YOUR behalf) will negotiate with the seller on what needs to be fixed before closing.
- Finalize the purchase. Some states require that you have legal representation at closing, but it’s a good idea even if it’s not the law. A lawyer or your preferred Title Agent can review each document with you at closing to make sure you understand what you’re signing.
While buying a home without a buyer’s agent is certainly possible, in today’s fast-paced market where bidding wars are the norm and the most organized Buyer wins, it is best to rely on an expert, especially when you contemplate making what could be the most expensive purchase of your life. Kapital Brothers has helped hundreds of families find, negotiate and successfully purchase their dream homes.
Make informed decisions. We have always been a trusted resource in REAL ESTATE.
Hope to hear from you soon!