5 Smart Ways a Real Estate Agent Can Help You Buy a House

You were never meant to buy a house alone! It takes a savvy, helpful agent to get to closing day feeling confident. If you’re looking for your first home, you may be wondering if a real estate agent is truly necessary. Here’s a look at five ways a real estate agent can help you buy a house.

1. They Can Help You Understand Your Financing Option

 

One of your first steps as a buyer is getting a mortgage estimate from a lender. While your lender can tell you how much home you can afford, they can’t tell you about the types of homes you can afford. Your real estate agent can look at your finances to help you get an understanding of what you can afford in your market. They can also help you to get the most from your budget by prioritizing the features or details that are important to you in your home search.

 

2. They Can Help You Understand Pricing

 

It’s easy to feel like you have a good read on the market after watching the news or reading real estate blogs. However, anyone who has been in real estate long enough knows that the only true information is local information. Experienced real estate agents do intensive research on pricing and neighborhood “comps” when listing homes or helping clients make offers. As a result, they can generally predict how much a home will sell for at first glance. Your agent will give you an overview of current market conditions in both your town and the specific neighborhood you’re focusing on in your home search. This can give you an advantage as you make offers because your agent can explain to you why a home is priced a certain way. Using comparable properties that have recently sold, your agent can help you decide if there’s room for price negotiations when submitting your offer.

 

3. They Can Provide Access to Homes

 

Real estate agents have access to multiple listing service (MLS) data that lets them see homes as soon as they hit the market. Additionally, real estate agents often network with other agents in order to connect buyers with homes. Sellers could be reluctant to set up a home tour or entertain an offer from you if you’re not working with an agent.

 

4. They Can Help With Negotiations

 

Few homes are perfect when they hit the market. Your agent can help you to request repairs or updates before closing. By pointing out issues that aren’t obvious to you, your agent could potentially save you thousands of dollars in repairs once the home is yours. If you’re obtaining a government-insured loan, specific repairs may be required before your bank will approve your financing. Real estate agents can also help you to work contingencies into your purchase contract that protect you from losing your earnest money if you back out of the deal for valid reasons.

 

5. They Can Keep You on Track for Closing Day

 

Most people don’t realize just how much paperwork is involved in buying a home until they do it! Your agent will tackle complex paperwork and keep track of important deadlines in the closing journey. That includes everything from assisting with escrow to reading over your disclosure documents with you. Agents can also make recommendations for title companies, inspectors, real estate attorneys, and other essential resources needed for closing.