If you are following the real estate market in Charlottesville and the Central Virginia area, you know that 1 in 5 sales over the last year have been one newly constructed. There is no doubt hat many in the process of buying a new home are asking themselves, “Why do I need a realtor?” This seems a natural question for those interested in buying a new home, while wanting to save all they can. After all, you can talk with the home builder or their agent and quickly be the owner of a brand new home- and you can do it all without having to pay a realtor. But what you may not realize is that the money you are saving by skipping out on the realtor isn’t really being saved at all. In fact, those who don’t use a realtor are costing themselves more in the long-run. Why is that?
Whenever you try to save yourself that 3% commission rate, you aren’t cutting the cost of your home at all, because the realtor’s sales commission is already built into the base price of the home. Furthermore, the seller’s agent will not be representing you as the buyer. His job is to get the best possible deal for the builder. They will also work to have you use their lender and closing agent. That can be to your advantage but using a Realtor will give you someone to make sure what they are offering in incentive is actually beneficial to you. In almost every case, The builder/seller will not give you a discount because you aren’t represented by an agent. By going into the transaction unrepresented, the builder will pocket the savings or pay a higher commission to their sales representative.
Hopefully the myth that you’ll be coming out ahead by skipping an agent has been debunked. Now let’s point out all of the benefits that come with being represented in your transaction.
For starters, your agent is a licensed professional, meaning he or she has a wealth of knowledge and resources unavailable to the average home buyer. By hiring a realtor, you also save yourself the time and energy of doing quite a bit of legwork. Many buyers justify not using an agent because they figure they can do this legwork themselves and save some money. Seeing as we just debunked the agent-less money-saving myth, why not save yourself the trouble and let a professional do the legwork? Real estate agents are also your personal advocates. During the process they represent your interests and wants to get you the best deal possible- after all, their jobs and reputation depend on it! In some cases, an experienced agent can even negotiate with the seller’s non-negotiable prices to get you a better deal.
So instead of asking yourself, “Why should I use an agent?” the real question is, “Why wouldn’t you hire an agent?” At no cost to you, hiring an agent will save you time today and money tomorrow.
Published on 2020-08-31 10:12:56