A home is most likely one of the largest purchases you will make in your life. For many of us, it is the first time we knowingly take on debt that will take 30 years to pay off—and we’re excited about it! A realtor is an important person to have when buying a home. If you are a first-time home buyer, a realtor can be especially helpful in educating you. Here are a few things your realtor can help with when it comes to buying a house.
1. They know your area. A realtor is first and foremost an expert on home buying in your particular market. They know what homes sell for, what neighborhoods are desirable, and where to find the perfect home to fit your needs. Let your realtor know what you are looking for and what your budget is when starting your home search. They can match that with what they know about your city or town to find the perfect new home for you.
2. They know the process. Real estate is as full of acronyms as any high-tech, cutting-edge company. Your realtor can help translate industry terms into concepts you can actually understand. They’ll also take care of paperwork for you, freeing you up to dream about enjoying your new digs.
3. They know people. There are a lot of steps involved in buying a home. From home inspections to financing, a realtor will know exactly who to call and what to expect. Not only does this help get you a better deal, it also keeps the home-buying process moving and gets you into your home faster.
You should expect your realtor to get a percentage, usually 3% each if both buyer and seller are using realtors, of the purchase price. The seller often pays this commission from the proceeds of the sale. Some prefer to go through the process without using a realtor, but most find the knowledge and expertise that a realtor brings to be invaluable.