So, you’ve finally decided to buy a home, but like many other potential homebuyers, you may be wondering whether you should work with a realtor or not to find your dream home. Of course, one of the main reasons why thousands of homebuyers hire a realtor when buying a home in Texas is to try to make the process easier, but is hiring a realtor worth the costs associated with it?
While it is possible to handle your home purchase on a home on your own to save money, the benefits of working with a realtor are plentiful, especially if you are a first-time homebuyer. Aside from working with an expert, you can leverage their negotiation skills and knowledge of the market and end up saving more money on your final purchase.
In the following sections, I’ll highlight how hiring a real estate agent can help you save money and why you need to hire one for your next home purchase in Texas.
Why Should You Work with a Realtor?
While it is possible for you to manage your home buying process without the support of a real estate agent, the benefits of working with one far outweigh its disadvantages. The real estate buying process in Texas is complex and requires the guidance of a professional. Below are a few reasons why you should work with a realtor on your next home purchase in detail:
Easier Home Search
The home search itself is one of the most tiring and stressful aspects of any home buying journey. Hiring a real estate agent makes your home search process easier and quicker. This is because real estate agents have a general idea of the available homes up for sale and inside details of the neighborhoods in the area you’re looking into.
Knowledge and Experience
Buying a home in Texas involves several steps and lots of paperwork; doing it all yourself may prove to be a challenging venture, especially as a first-time homebuyer.
In addition, a local realtor understands the real estate market, buying process, and the market value of homes in the neighborhood. This saves you time and prevents you from offering a price far higher than the actual value of the home.
Experts at Negotiation
Speaking of price, if you are like any other potential homebuyer out there, your goal is to get the best deal possible for a home. But to be able to achieve this, you must possess excellent negotiation skills. Most realtors handle tons of home purchases weekly and know how to negotiate for the best price.
For example, a real estate agent understands how to use the location of the home and home inspection report to negotiate for a better deal/price on your behalf.
Can Hiring a Realtor Save You Money?
One of the reasons why many potential homebuyers shy away from hiring a realtor is because of the misconception that not hiring an agent will help them save more money. But in reality, hiring a realtor will most likely save you more money in the long run. Below are some ways a realtor can help you save money on your home purchase in Texas:
Agents Can Find the Right Deals
If you are familiar with the Texas real estate market, you may be aware that not every home available for sale ends up on the Multiple Listing Service (MLS). Realtors usually have a wide circle of potential home sellers and access to homes not even listed on the MLS. They can use their connections to find the right property and for the right amount.
Agents Know the True Value of a Home
One of the mistakes most first-time homebuyers make is letting their emotions dictate the amount they offer for a home purchase. Due to their unwillingness to let go of a particular home or location, they tend to offer or pay a purchase price far above the true value of the home.
Real estate agents understand the average selling/buying price of a specific type or style of home. They have access to comp data that enables them to compare the past and present buying prices of houses. With their ability to compare the prices of homes, they can help you negotiate for a price below or within the value of your potential home.
Use Home Inspection to Your Advantage
Another way a realtor can help you save money is by taking advantage of your home inspection reports. Most homes, even new ones, may have an underlying structural defect or repair issues, which are usually revealed in the home inspection report.
Whatever the issues may be, a real estate agent knows how to negotiate further with the seller for a reduced price or for the seller to fix the property before the final walkthrough.
Buying a home is likely one of the most significant financial decisions you will make in your lifetime. Working with a local real estate agent offers plenty of benefits when compared to you handling the home buying journey on your own.
Most importantly, hiring a realtor to handle your home purchase process in Texas will likely save you more money, time, and reduce the stress associated with buying a home.