Buying a home is a major investment, and it involves a lot of knowledge and information that must be processed in a short period of time. Some well-intentioned but misinformed buyers believe that approaching the market without a realtor is the fastest and cheapest way to go, but there are a number of reasons why that belief is likely unrealistic.
3. It doesn't really save money to buy without a realtor. There's a popular misconception that buyers can pay substantially less for the properties they purchase if they eliminate the use of a realtor. While this may prove true, on occasion, in markets with lots of inventory and undervalued properties, in a market like the West Michigan real estate market, this is unlikely to happen. Most properties on the market right now are selling at the asking price. Even if a property is listed for sale by owner, the seller is highly unlikely to chop thousands of dollars off the sale price because you come to the table without a professional realtor unless you're an amazing negotiator and there are no other interested parties. In reality, you'll simply be closing for the same price on the house with less assistance and fewer protections if something goes wrong.
2. You'll be missing out on viewing some amazing properties. Realtors know what's on the market, and they have access to massive databases full of available homes and the newest listings. While many of these resources can be found in realty offices and even online, those without comprehensive real estate training will be hard pressed to make the most of these tools. It's entirely possible that your dream house is on the market right now, but you may very well not find it in your searches without the help of a realtor. Worse, still, is the possibility of finding the home but doing so too late. There's nothing quite as miserable as finding the perfect home, only to discover an offer has been made and accepted on the property hours before you called.
1. Without professional advice and help, everything falls to the buyer. Arranging a competent, trustworthy inspection can be difficult and nerve-wracking. Do you know how to tell if a furnace is in excellent working condition or has been cleaned and rigged up to look like it's fine, when it needs to be replaced? Can you estimate a property's likely appreciation or devaluation based on proposed developments and changes to the neighborhood where it is located? Have you ever tried to actually read through the paperwork involved in a home sale? It's a lot of information, a lot of headache, that the average homeowner doesn't need during the buying process. Moreover, given that you're unlikely to receive any financial benefit from not using a realtor, you'll be doing a lot more work with a lot more stress without any tangible benefits.
When it's time to buy a home, whether it's your first home or a move into a bigger/smaller home or a new neighborhood, it's always best to work with professionals. That way, you have the peace of mind that comes with knowing that you aren't being tricked or overpaying for a property. If you're in the market for a new home, be sure to work with the best for the smoothest, easiest sale process. Call the experienced professionals at Pyxis Realty, and see what a difference a realtor can make!