As either a first time home buyer or a veteran, the question of whether or not to use a realtor has likely crossed your mind and rightfully so.  As a new home buyer, you’re likely looking at saving money on the sales price of your home by working around a realtor’s commission.  Or, as a current home owner and experienced buyer, maybe you’re looking to do the work yourself.

While saving money is always our goal, cutting out the real estate agent may very well be costing you money in either sales price or negotiation.  In the end you may end up paying considerably more on your home purchase by skipping a realtor.  Here are some of our reasons why you need a realtor.

Experience

First and foremost, a realtor gives you experience in a number of different areas: home values, local market conditions, and access to homes chief among them.  While you can certainly do the work yourself, the opportunity cost of shopping around, haggling with sellers, and making sure your transaction is on the up-and-up can be more of a headache than a money savings.

Realtors are there to help you make sure all of the ducks are in a row and take a lot of the headaches of shopping for a home out of the equation.  In addition, a realtor can be an extremely valuable asset when it comes to negotiation which brings us to our next point.

Power of Negotiation

Perhaps you’re a world-class haggler when it comes to a flea market or buying a used car, but negotiating the sales price of a home isn’t for the faint of heart.  This is where a realtor’s experience and expertise can really shine.  By knowing your local real estate market, a realtor can use that knowledge to his or her advantage by getting you the best possible price on a home.

Additionally, a realtor can find ways to either save you money on the overall sales price or add value by making some upgrades on the existing home by leveraging inspections or local contractors.  This street knowledge can potentially save you hundreds or even thousands of dollars in maintenance or upgrades before you even buy.

Shop Local

As we’ve mentioned, the power of local realtors can have a huge effect on what you pay for your home.  Not only do local realtors know their way around, but they likely have an extensive Rolodex of connections to other realtors and likely know the seller’s realtor personally.

These sort of inter-realtor connections can help take the guesswork out of your home purchase and get you the best price on your new home without adding much hassle on your end.  Additionally, a local realtor has connections with contractors, inspectors, and other city officials that may prove pivotal during the closing phase of your purchase.

Mortgages and Financing

Finally, when looking at whether or not to hire a realtor, consider their expertise in a fundamentally critical area of your purchase: financing.  Part of a realtor’s job is to stay on top of the mortgage market, know what local banks are offering for financing, and have an idea of how you can fund your new home.

Of course, one of the best resources available to you is Tidewater Mortgage Services.  20 years of experience gives Tidewater one of the best reputations in the industry for financing your home loan.  Call one of the experienced loan officers at Tidewater today and you can get pre-qualified for the financing you need for your dream home!