Buying a House without a Realtor

should i hire a realtor

A lot of home buyers and sellers these days dismiss Realtors due to online dependence, not realizing that Realtors are key to a secure and satisfactory deal in the real estate market.

Even with every information about real estate transactions already available online, Realtors are still downright relevant due to their expertise and the fact that they follow a strict code of ethics from the National Association of Realtors (NAR).

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Real Estate Agents are Experienced and Knowledgeable

Before Realtors became what they are, they started as regular real estate agents that go through a pre-license course and eventually a licensure exam.

Once licensed, a real estate agent (or the company he belongs) can join NAR and be part of the certified Realtors in America.

When selected by a home buyer or a seller, Realtors use their education and experience to prepare for a pre-appointment.

For sellers, they:

  • Confirm pre-listing with the seller.
  • Research listings in the area.
  • Research about home trends in the targeted specific home market.
  • Perform a market analysis for the seller.
  • Review credentials of the client.
  • Research about the property by learning about ownership, deeds, and other essential information.

While for buyers, they:

  • Prepare information about the general real estate market.
  • Research about the area the buyer wants to purchase a home in.
  • Research the buyer’s credentials.
  • Confirm appointment with the buyer.

They offer objective advice and guides

Most of the time, Realtors remove bias and their own subjective feelings to ensure the buyer or seller get the property deserve. They can be direct about what kind of deal suits a client.

During an initial meeting, Realtors do the following for sellers:

  • Explain the current real estate market.
  • Provide information about what happens and what to expect during the selling process.
  • Present details gathered for the property.
  • Establish goals.
  • Estimate home value and potential selling price.
  • Finalize agent and seller agreement.

For buyers, Realtors:

  • Run through information about the market.
  • Present realistic goals for the buyer.
  • Ask and make certain that buyer has a pre-approved loan.
  • Settle contracts and agreements.

They have a wide network

There are at least 1.3 million Realtors working in America right now so it is an understatement to say that Realtors have an expansive reach of connections. This is not counting brokers, lenders, and non-NAR member agents.

Working without a Realtor will make you realize how important networks for a speedy and convenient transaction.

After an appointment, sellers should expect their Realtors to:

  • Review plans of the property for better knowledge.
  • Evaluate terms and conditions and verify them.
  • Submit property to multiple listing service (MLS).
  • Notify fellow Realtors and other potential markets about the listing.
  • Make ads for the property.
  • Ensure every listing detail is accurate.

For buyers, Realtors:

  • Do expansive research of home listings based on buyer preference.
  • Narrow down properties for buyer to choose from.
  • Present listings to the buyer.

They do both trivial and elaborate tasks for you

With a Realtor, a client almost have to do nothing but to collaborate and manage decisions. When listings and homes are selected, Realtors take the mantle and do what they do best: paperwork, negotiations, and securing of necessary credentials.

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For sellers, they:

  • Present offers to settle on a certain bid.
  • Make contact with the buyer agent and set a schedule for appointment.
  • Perform home staging for the property.
  • Confirm buyer has a pre-approved loan.
  • Guide buyer and buyer agent through the home showing.
  • Deliberate and finalize the Offer to Purchase.
  • Take deposit for escrow.
  • Update listings and work on required paperwork.

For buyers, on the other hand, Realtors:

  • Settle with the buyer on the property.
  • Research about the home, particularly the home value.
  • Contact the seller agent and make an appointment.
  • Attend the walkthrough of the home.
  • Discuss prices and conditions with everyone involved.
  • Finalize decision with the buyer.
  • Make an Offer to Purchase.
  • Deposit initial payment needed for escrow.

They are your friend

Waiting for loan approval and other necessary paperwork can eat up a lot of time. Coupled with unexpected troubles like the buyer or seller backing out, client suddenly losing finances, and other factors, a real estate transaction can be emotionally taxing.

Good thing, Realtors are there to be your solace. They are humans too and can empathize with you to a great degree.

During these times, Realtors make sure that they:

  • Update the client about the loan process.
  • Fill in on paperwork the client cannot take on.
  • Accompany buyer and seller through a home inspection.
  • Take notes of repairs and decide on how repairs and costs are going to play out.
  • Help client settle or pull out from the deal.
  • Be there during emotional times.

They Make Sure you close a Property Successfully

A Realtor’s job is fulfilled when a client finally gets what they have been aiming for. To make sure of this, Realtors:

  • Assist and guide client through the appraisal process.
  • Wrap up on the final appraisal agreement.
  • Supervise the signing of closing contracts.
  • Update closing documents.
  • Work on closing figures, forms, and legal trusts.
  • Aid in the turnover of the property.
  • Secure post-closing requirements.
  • Follow up on client.

The real estate industry is a daunting venture to get in, ensure that you have a trusted and certified guides in the form of a Realtor.

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