Why You STILL Need a Realtor

Why You Still Need a Realtor

The market is hot! Inventory is low, and so are interest rates. With the way the current housing market is, many sellers are opting to sell their homes without any realtors involved. Buyers are doing the same thing; to save a buck. But how much are you really saving, and what are the risks? Here are a few reason reasons why you are better off hiring a professional real estate agent.

Protecting your investment

Seller: When selling what is most likely your biggest and most expensive asset, why risk even the slightest thing going wrong? Full-time realtors do this job every day and have done hundreds of transactions. They know the ins and outs of the contract, what the timelines are, and how to protect their customers. Just like most professions, it takes years to perfect this craft. Yet so many people are willing to take on the transaction independently, with little to no experience, and sell this expensive asset without professional guidance.

Buyer: Again, your realtor will know the contract timelines! He/she knows how much of a binder deposit you should offer and when/how/where to send that money. The same goes for the inspection periods, loan approval, and every other timeline in the contract. Your realtor will also know when/how you can back out of the contract. If you are going at this alone just to save some money, you could end up losing that much or more if you miss a deadline.

Inspection and repairs

Seller: Once you accept an offer, the sale is just beginning! Believe it or not, there are many things that go on behind the scenes and hurdles to jump before getting to closing. The inspection and buyer repair requests are usually one of the biggest hurdles! A realtor can help explain the request, advise you a response, advocate for you, and even help you find reliable contractors to do the repairs. Your agent will also know what to do if a buyer isn’t satisfied with a repair or wants to do a re-inspection.

Buyer: Every buyer wants to make sure they’re buying a well taken care of home. The best way to know what is going on behind the basic appearance of a home is to hire an inspector. An experienced real estate agent will be able to recommend the best inspectors. He/she will also advise you on what repairs to request and how to get those repairs properly completed.

Navigating surprises

Out of the approximately 200 sales I’ve had, I’d say only about 10% of them went completely smoothly. Before I started this career, I had no idea how many things can go wrong and how much problem solving is involved during a real estate transaction.

Some examples that I have experienced:

·         The A/C or fridge (or any other appliance!) stopped working the day of closing.

·         The sellers were not moved out by the final walk through.

·         The home didn’t appraise.

·         The reinspection revealed that the repairs were not completed.

·         A buyer’s loan was denied, or a buyer backed out.

·         A seller tried to back out shortly before closing, or the sale of the buyer’s previous home was delayed therefore causing a delay on the next closing.

·         A title company’s emails were hacked, and a buyer was given fake wiring instructions.

I could go on and on. All these issues were handled, and all these homes closed but may not have if I had not been there to navigate these surprises!

In conclusion, do yourself and your family favor and hire a professional to sell or buy a home. Without representation, the sale may go smoothly …. OR it could be a total nightmare that costs you money, time, causes extra stress, or even has legal implications. Don’t take that kind of a risk!