Purchasing a home is going to be one of the biggest investments you are ever going to make, and it is vital to know how to approach and finish this process. We are taught that we have to do it through an agency, but is that always the case? Keep on reading to find out some of the pros and cons of buying a house without a realtor.
1. You Will Decrease Expenses
The first reason why many people choose to go through this process without an agent is to decrease the expenses. In most cases, the professional will take between one and five percent of the price of the property, and who pays for that depends only on the mutual agreement.
In most cases, the seller is the one who pays the realtor, and that is why many sellers choose to market their homes without going through an agency. This also means that you may be able to find cheaper properties since there won’t be any commission for the expert.
2. You Can Build a Connection With the Seller
The most important part of this process is having a connection with the person who is offering their house. When you have a middle man, chances are, you will have little to no contact with the seller, and this means you cannot build any relationships.
When you do it without the expert, you can talk directly with the other party included in the process, and you can get first-hand information on the state of the property, what needs to be done, and even about the good memories that that place holds.
3. You Are Free to Look at Whatever You Want
One thing that you have to know is that not all agencies have access to the same properties, and when you collaborate with one service only, you won’t be able to see houses that are listed by others. There might be the perfect home for you listed somewhere, but the agency that you are collaborating with, may not be able to offer it.
When you choose to do things on your own, you can use whatever you want, in whatever location you want, and there won’t be any limits.
4. You Can Do Separate and Deeper Research
When we have someone to rely on, we are less likely to do our own research. We trust that the agent is going to have our best interest in mind and we hope that they are going to be transparent. Unfortunately, that is not always the case, and sometimes the realtor will not be as open as you might think they are.
They may forget to give you some vital piece of information that may change your mind for signing the documents. When you do it on your own, you will know that you learned everything there is about the property and there won’t be any unpleasant surprises.
5. You Will Gain More Expertise
Now let’s talk about the negative sides of purchasing a new home without the help of an agent. The number one reason why you should choose to collaborate with them is because of the expertise that they have.
They have been doing this for a long time, and they know which deals are more likely to succeed, they will tell you what to look out for when showing you the properties and they will advise you on why should you invest in a property or steer away from it. Companies like LoyalHomes can connect you with the right seller without you having to waste valuable time on your own.
6. You Won’t Work With Risky Sellers
Unfortunately, there are going to be a lot of risky sellers, and if you do things on your own, you may end up in an unsafe situation, or someone may try to scam you. There are those people who want to find which people can get money fast and who are preparing to make this investment, and they are going to try and steal the funds.
When you collaborate with an agency, you will know that every individual is vetted and that you won’t have to worry about your safety or the security of your funds.
7. You Won’t Get Lost in All the Legal Procedures
Buying and selling real estate is much more complicated than you might think, and there are going to be a lot of documents and legal processes involved. You cannot just find a home and go get the agreement notarized. There are many procedures that need to be followed, including the inspection.
Working with an agent can help you learn what you need to get before the process even starts and how you will finish the funds transfer faster, and how you will get the keys to your new home with ease.
8. You Won’t Get Any Help With Negotiations
It is said that there is always room for negotiations, and on the same note, there are going to be those properties that are going to have a lot of offers and who will look for the buyer who is willing to spend the most. The agent can help you out in both cases, and they can advise you on how much you need to offer to stay in the final circle, and what you can do to stay within your budget and lower your expenses.
They know which sellers are more likely to decrease the sum, and how much down they are willing to go, and they also know which number is risky and more likely to get you rejected. You cannot do this on your own, and even though you may be tempted to try, chances are, you will fail.
These are the positive and the negative sides of choosing to get this process done without a professional. It is up to you to choose what you want to get yourself into, and how you want to proceed, but know that having an expert next to you is always better and safer.
Look for a service that operates in your desired area, have a meeting with them, and go from there. You have the right to change your opinion, and you can choose to seek help after you have started the process, or to stop collaborating with them even after looking at a few properties.