Don't Go It Alone . . .
The Linda Rea Team has a different system . . . to represent new construction buyers...and builders! If you are thinking about buying, selling or building with a builder give us a call to assist you on ways to save time and money. Our team discusses all perspectives of purchasing a home and each perspective is different whether you are a male, female, buyer or seller. With every sale we gain more knowledge and learn something new! You get to utilize our team’s experiences collectively to help you from the purchase agreement to the closing. You need our experiences, knowledge and trust, just as you would trust your own doctor or dentist. If you are interested in new construction you need to preview and meet with the builder and find out if the products, they use are from the local area. Also, builders create their own purchase agreements; another reason why you don’t go it alone! You need an experienced realtor to review the builder’s purchase agreement so that you may make the best informed decision. Just another of the many reasons why you need to call the “Team of Teams” at 248.770.8661 to let the experts guide you every step of the way!
Cons of Buying a House Without a Realtor
There's a reason people get certified to take care of home buying negotiations and transactions for the public. Here's what to know when buying a house without a realtor:
1. There's a Mountain of Questions and Paperwork to Navigate
The Federal National Mortgage Association, better known as Fannie Mae, recommends hiring a real estate agent when you first start house hunting. After the excitement of attending open houses and browsing house ads online fades, you'll have a professional available to answer questions about cleaning up your credit report and securing financing. Best of all, you show up for the house closing to simply read and sign the legal documents prepared by the agent for you.
2. Hidden Expenses May Linger
The benefits of using a seasoned agent span well beyond the negotiations process. These agents often know the pros and cons of various neighborhoods and areas that may become costlier for a buyer in the long run in regards to insurance costs and maintenance issues.
3. Buying Can Take More Time Than Expected
Buying a house without a Realtor isn't a weekend project. From researching the projected cost of utilities to local zoning restrictions (Is it legal to run your home-based business from the new dwelling)? You're going to invest countless hours in research before making an offer. As a buyer, and especially as a seller, you will invest a much greater amount of time, and incur a much greater amount of opportunity cost, than you originally envisioned. Especially if you are building a home, you need an experienced agent team of teams to guide you through every step of the way!
4. Learning About A New Community Can Be Difficult
If you're buying a home without a realtor in a new city or state, it's tough to know the ins and outs of your potential new area. An agent working in that community on a daily basis can be a wealth of information”. A buyer who tries to 'go it alone' also loses an edge, as he doesn't have the advantage of knowing the subtleties of the specific market area. A real estate agent has this knowledge, experience and negotiating skills to help you through your home building process.
5. With Today’s Technology, Consumers navigate through websites and apps easily?
Today, everything you might want to know about a property is available with a few clicks. The history of a listing shows how long it’s been on the market, when the seller bought it and if the seller tried to sell it a few years back. Consumers can even see comparable properties to gauge home value. Given the wealth of easily available property information, you might be wondering whether a real estate agent is even necessary anymore. Here are a couple of reasons why agents are just as important as they were years ago, if not more so.
6. You need someone to interpret all that information
Yes, there’s a ton of information out there for the general public, but all that data is meaningless if you can’t interpret it or predict how it might affect your investment. For example, imagine that you’ve found a home online you love, and you’ve discovered a comparable home that sold two months ago for $40,000 less. Your first thought might be to wait and not make an offer or to make a very low offer. However, a good agent would know that the “comparable” you found has dry rot and termite issues on the back deck. They’d know there was work done in the basement without permits. which the new owner would have to take care of. An unrepresented buyer would miss out on this home without this inside knowledge. Having an agent to bounce ideas off of, validate what you’re thinking about a home or highlight a disclosure you wouldn’t have noticed, gives you peace of mind and can save you a lot of time, trouble and money.
7. It’s the agent’s job to know the market
Trying to buy or sell a home is practically a part-time job, for someone who is not a realtor. It requires valuable knowledge and expertise. If you spend all this time trying to go it alone, you really aren’t saving any money! A real estate agent’s livelihood depends on knowing the market and the history of all the homes sold in a particular neighborhood over the course of five years. Agents help a variety of buyers and sellers through the process over and over.
The sheer repetition of completing many deals is something buyers and sellers don’t have. Through that repetition, experienced agents learn when to avoid a certain inspector, when and why it makes sense to make a client put in an offer ahead of an open house, or how to navigate a title issue with the escrow company prior to a closing. A good agent immediately knows when a home that appears to be an amazing “deal” is actually too good to be true and can also spot an incredible opportunity that a buyer might miss. Call the “Team of Teams” The Linda Rea Team at 248.770.8661 to let the experts guide you every step of the way!