Once you've purchased a home, you become a lot more confident and knowledgeable about the process. Some people in this position conclude that they don't have to use a real estate agent the next time they buy a home. But this isn't a great conclusion to reach. You are usually best off using a real estate agent, even if you've purchased a home before. Here's why.
Real estate laws and trends change
The laws regulating the real estate industry are always changing. Conventions in the industry are always changing, too. What was considered normal or appropriate last time you bought a home may not be normal or appropriate anymore. Real estate agents keep up with these laws and trends. Hiring an agent when you buy another home will ensure you do things according to current regulations and practices.
Negotiating a sales price isn't easy
One of the biggest things real estate agents do is negotiate with the seller and the seller's agent. They put in your original offer, and they can make adjustments to that offer based on counter-offers, inspection findings, and other factors. Negotiating a real estate sale is a skill that takes a lot of practice to develop. Real estate agents have had that practice and can help you get a better price with their negotiation skills.
Real estate agents find out about homes for sale sooner
In a hot real estate market, you need to move quickly if you want your offer to be considered. If you don't find out about homes until they have been on the market for a few days, you may have a hard time making offers on time. Real estate agents find out that a home has been listed before the general public becomes aware of it. So, if you hire an agent, you can view and make offers on homes sooner, getting a leg up on the competition.
There's so much paperwork involved in real estate transactions
There are papers to fill out for the bank, other papers to fill out for the inspector, and more paperwork for the lawyers. This can quickly start to feel overwhelming, even if you've purchased a home before. It's really handy to have a real estate agent there to oversee it all and make sure all of the paperwork is kept straight.
Hiring a real estate agent is usually the simplest way to go about buying a home, whether or not you've bought a home before.