Why You Should Use a Realtor
Edited to add: this post turned out to be much longer than I planned. While I apologize for the length, I really do think it's all important information. I hope you learn a lot and don't hesitate to reach out if you have follow up questions!
Can you buy or sell a home without a Realtor? Absolutely! But why would you embark on what is likely the biggest financial decision of your life without an expert?! While there are many reasons to use a Realtor, here are the ones I think are the most important.
The lingo
We've already talked about how real estate has its own language. While it's good to educate yourself, your Realtor already knows the lingo and is happy to be your translator. She can also make sure you don't get misinformation along the way because someone else didn't understand the lingo.
I recently had a lender tell a buyer client she didn't need to schedule inspections, it would be taken care of for her. Come to find out, the lender was talking about appraisals, something VERY different! Thankfully I checked in with my client to see why inspections weren't scheduled and was able to get her back on track. If she hadn't had a Realtor, she would have missed her opportunity to have inspections...and not realized there was a pretty significant repair that needed done!
The value of knowing the value
Your Realtor has done competative market analyses (CMAs) and knows what a house is actually worth as well as what buyers are willing to pay. And yes, depending on the market, those numbers can be VERY different. Your Realtor knows how to distinguish between the two, so as a seller you get the most for your home, and as a buyer you don't agree to pay more than a house is worth and get hung up in appraisal issues. Yes, as a seller you'll pay her somewhere between 4-8% commission (as a buyer her work and expertise comes free!), but according to realestatedecoded.com and many other sources, homes listed with a Realtor generally sell for 13% more.
Your Realtor has been inside countless houses and knows what to look for. For example, when you notice cracks in the walls, she'll be able to give you an idea of whether it's normal settling (something to mention during the inspection but not something to freak out about) or something that is likely indicative of foundation issues. She's not a builder, contractor or inspector but she can help you decide whether something needs further investigation or is a deal breaker upfront.
Along the lines of her being able to provide some insight despite not being the full blown expert, your Realtor is happy to answer questions about your listing/offer contract and doesn't charge by the hour like an attorney does. While she isn't an attorney and isn't going to explain all the details of a contract with you, she can save you a lot of money and headache when it comes to the potential of signing something you don't fully understand or having to pay through the nose for an attorney to review it.
If that's not enough, your Realtor has a firm grasp on the market and can give you tips on pricing, making a strong offer, negotiating to get the best deal and give you an idea of a timeline. She also keeps you updated on next steps throughout the process.
The searching/marketing power
While sites like zillow and trulia have made selling or searching for a home online so much easier, those sites often work on a 24 hour delay. A Realtor has access to all those public sites, plus listings that aren't public, ones that are "coming soon" and more up to the minute information on the listings that are public. If you're on the seller side, your Realtor has ways to get your home seen on all these extra sites and is spending her own money on professional photography and even more creative marketing.
The connections
She has contacts for lenders, inspectors, repairmen, movers, pest control experts, and more. If you're new to the area, she knows about the schools, can tell you the best restaurants and even give you her dog groomer's information! She is not just a salesperson, she is a member of the community you're joining and wants to help you get settled.
The peace of mind
This is possibly the most important reason to work with a Realtor. She keeps track of the timelines and makes sure you don't miss a deadline. She deals with tons of paperwork and phone calls that come along with marketing and negotiating an offer. She's worth her weight in gold when it comes to saving your sanity!
The bottom line
Your Realtor will be there for you during all the ups and downs of the buying or selling process. Using a Realtor will more than pay for the investment in her commissions. And if you have any questions, I'm happy to answer, so please leave them in the comments, or don't hesitate to reach out!
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