There is still plenty of opportunity in the United States real estate market. In 2021, more than six million existing homes changed hands. While the market is still on the rise, there are challenges to overcome.
Factors like low housing inventory and rapidly growing home prices make it difficult for buyers. Other potential challenges come on the financing side. The Federal Reserve is planning to increase interest rates which will increase buyers’ monthly payments.
Many homebuyers are asking: do you need a realtor to buy a new house? Read on for tips on how to hire a realtor. Explore advice for choosing a realtor that is certain to help.
What Is a Realtor?
Before diving into our realtor guide, it is important to define what they do. Realtors are trained professionals that help you rent, sell, or buy a property.
There are different types of real estate agents. For example, a buyer’s agent is only involved with purchasing homes. Listing agents help homeowners sell their property.
Your real estate agent is going to sit down with you and find out what you are looking for in a home. They create customized home searches to narrow down the search for compatible homes.
When you find something that you like, your agent takes you to a showing of the home. They will brief you on the pros and cons of the home.
If you like the home, they will help you craft a competitive offer and present it on your behalf. From there, they will negotiate with the homeowners. Real estate agents prepare documents required to complete the sale.
What Traits Should You Look For in a Real Estate Agent?
There are many challenges to navigate in the current market. Certain traits, such as the ones exhibited by RMG Real Estate Network, help an agent succeed during these times.
Low housing inventory is one of the biggest challenges facing agents. Hiring an attentive and aggressive agent is one of the most critical realtor tips during these times.
Your agent should be closely monitoring new houses hitting the market. If an in-person showing is not possible, taking a virtual tour is recommended.
The offer stage requires an aggressive offer. Because supply is so low, many homes are receiving multiple offers, and bidding wars are increasingly common.
Lastly, it is important to hire an agent with a robust professional network. Your agent should be able to set you up with all the professionals needed to complete a transaction.
This includes a real estate lawyer, certified home inspector, appraiser, and more. These professionals ensure you buy a quality home and reach closing in a legal and efficient manner.
Do You Need a Realtor to Buy a New House?
The answer to this question is a resounding yes. Homebuyers do not pay for a real estate agent’s services and benefit from their experience. Your agent’s commission is paid by the seller on the home sale price. A good real estate agent gives you access to an extensive professional network. They help navigate a challenging market and get you in a new home. If you enjoyed this article asking, “do you need a realtor to buy a new house,” check out our blog for more great content.
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