You might think buying a home without the help and expertise of an experienced real estate agent sounds like a great idea. You figure that you can search online and make appointments yourself to schedule showings. While that is true, I’d like you to reconsider because there are risks to buying a house without a Realtor®.
Risks to Buying a House Without a Realtor®
- Time It will take a tremendous amount of time to buy a home without the assistance and skill of a seasoned real estate professional. Much of the work involved in searching for, offering on, negotiating, and buying a home is reduced because your real estate agent has studied the area you are house-hunting in and knows what areas will be great for you. They also have years of experience and training to understand the home purchase process, home values, laws, and paperwork necessary to purchase the home you fall in love with and want to call your own.
- Years of Knowledge If you decide to buy your home without a real estate agent’s help, you will be missing out on their years and years of acquired knowledge. This is a big risk because agents have bought and sold many homes with many homeowners and know the ins and outs of what to expect…even when the unexpected happens. Your agent will know instinctively what questions to ask and what to look for when finding you the best home available.
- Seller Cooperation The sellers of the home might not be as cooperative as you would hope if they need to work with someone other than a real estate agent; this approach of a buyer working without a real estate agent can seem like a risk to them as well. Working with an inexperienced house buyer could cause extra time and headaches for a seller, or it could pose issues if you don’t know all the procedures to keep the buying process on track and moving towards the completion.
- Paperwork As we mentioned a little above, the paperwork involved when buying a new home is long and involved. Even if you have bought a home or two in the past, you will probably run into questions or concerns you don’t know the answers to. If you are moving to a new part of town, new city, or even a new state, the laws and even the layout of the contracts could look and work differently.
- Disclosures and Documents If you don’t know what to ask for and the sellers forget to include something in the signed documents, you might not even know to ask for them. This would be a considerable oversight and put you at risk for buying a home with issues you have to address on your own later.
- Pricing and Costs Your experienced real estate agent will be able to guide you well regarding the purchase price for your new home. This topic alone can pose a large risk if you buy a home without an agent. A real estate agent will be able to evaluate the property and give you a strong idea of whether the asking price is appropriate for the homes you are interested in buying.
Why Use a Realtor® When Buying a New Home?
Working with a real estate agent is really win-win. You’ll be able to see homes you like easier and faster. People on the selling side will quickly trust you and take your offer seriously. Reviewing the paperwork, documentation, and contracts necessary to buy your new home will be the job of your real estate agent, and not you.
Working with an Experienced Memphis Area Real Estate Agent
When it’s time to sell your existing home or buy a great new place, turn to a highly regarded and well-informed local real estate agent. You want someone that you can trust to give you the best advice and know-how for your new home purchase or sale. Check out my other great articles to help you through your home selling and buying experience here in Memphis. Staging homes for sale is also part of my expertise. Please ask me about it when you reach out.
Take a minute to learn more about me. With over 15 years of top-notch service for my clients, I can guide you with your house sale, new home purchase, or buying a great parcel of land. As a top, licensed real estate agent in the Memphis area, showing you the best properties for you and your family is my goal!
Contact me at (901) 828-8919 or drop me a quick note at firstname.lastname@example.org and we can speak in person about your plans and options. Ask me about seeing homes for sale by video or virtual tour and find the best place for you!
Angie Kelley, Crye-Leike Realtors
(901) 828-8919 or (901) 756-8900