Is a Buyer’s Agent Necessary for a Real Estate Transaction?

Does the average person looking for a home really need to pay a buyer’s agent to represent them?  I’m sure it goes through a lot of minds.  With easy access to search platforms that pull directly from MLS like Zillow, realtor.com, redfin and many others, everyone with a smartphone has just about us much access to what is available in the market as licensed Realtors do!   So, what is the point of paying someone to help you find a professional to help you?   

On the surface, this is a VERY valid question.  Anyone can see any listing anytime!  But…. is that really all a buyer’s agent does for the clients they are representing?  Let’s think through a few things and see what we could really be getting ourselves into…

Identifying homes that you want to see on Zillow is easy.    But when you find the homes you want to visit, what do you do next?  If you don’t know, that’s certainly a clue to whether you might need some help navigating these waters!

It’s time to set your day up to view these homes.  Do you know how to call to book the appointments to view?  It’s not too hard to figure out, but it is time consuming.  

Let’s say you get your day set.   What If there is a scheduling conflict or a need to change multiple showing schedules, do you know how to deal with this?  Do you WANT to deal with this? 

When you get to the home, do you have the access to get inside?  Remember, nobody is going to be there during the showing.  Maybe you can get the listing agent to let you in??  It does tend to be easier having your agent setting this all up and using their access to get into these homes, but if you are determined, you might be able to get it to all work out!

So now you have seen multiple homes over multiple days and you have found the one you want to go after!  Fantastic, you are ready to move forward towards an offer!

But wait…. do you know what contracts to use?  Where to get them?  How to fill them out from a technical standpoint and even more importantly, what type of agreements and terms will give you the best advantage? My guess is if you do, you are either a licensed Realtor or have a good friend that is one guiding you.  If not, you are still probably in luck.  According to the NAR, 93% of all sellers have licensed professionals representing them.  So, I’m sure they can help you with the forms, but make no mistake, they are representing their sellers and looking out for their best interest, not yours!

Do you know how to negotiate based on current data, market trends?

Do you have a pre-approval to send in with your offer?  If not, what mortgage company are you going to use?  Will they be easy to work with through the closing?

How about a closing attorney?  Which one should you use and trust?  Closing attorneys are the buyer’s choice and good ones make a huge difference!  This information goes in the contract, so you need to know it when you submit the offer.

Do you know what is the typical time frame for due diligence?  Do you know what due diligence is?  If not, ask a licensed realtor.  It is important!

These are many of the things you need to understand and have answers for by the time you get to submitting your offer.  If you don’t understand some or any of this, rest assured, your buyer’s agent will!

Now, let’s say you are savvy (or lucky enough) to get through this point.  You are now under contract! Congrats!  The rest should be easy, right?  Or is this where the pressure really starts?  

Should you get an inspection?  What inspection company do you use?  What should you worry about and not worry about on the report?  How do you ask the seller for repairs?

What if a conflict arises while you are under contract?  Do you have enough experience to work through the issues and find a win-win situation that gets you into your new home?

While tech-savvy buyers can certainly handle some aspects of the process independently, partnering with a buyer’s agent offers peace of mind and a higher chance of a smooth, successful home purchase!