Do I need a realtor if I found a house I already want?

Finding a home, you love can be an exciting experience, especially in the digital age where online listings and virtual tours make it easier than ever. However, this brings up an important question: if you’ve already found the house you want, do you still need a real estate agent? We’ll explore the benefits and drawbacks of working with a realtor when you find a house professional versus going it alone, to help you make an informed decision.

The role of a realtor

Expertise and knowledge

• Market Analysis. Realtors can access comprehensive market data and provide a comparative market analysis (CMA) to ensure you’re making a competitive offer. Also, they understand local market trends and can advise on the best buying time.
• Legal and Regulatory Requirements. Realtors are well-versed in the legal aspects of real estate transactions, including disclosures, zoning laws, and contracts. They ensure that all legal requirements are met to avoid future complications.

Negotiation skills

• Price Negotiation. A real estate agent can help you negotiate a fair sales price based on market conditions and the property’s value. They can also negotiate contingencies, such as repairs or closing costs.
• Managing Emotions. Buying a house can be emotional. Realtors act as intermediaries, keeping the process professional and focused on your best interests.

Paperwork and documentation

• Contract Management. Realtors handle the preparation and submission of all necessary documents, ensuring that everything is completed accurately and on time.
• Avoiding Pitfalls. They help you avoid common pitfalls, such as missing deadlines or failing to include necessary contingencies.

Connections and Resources

• Professional Network. Realtors have established relationships with home inspectors, appraisers, mortgage brokers, and other professionals. They can recommend trusted individuals and coordinate their services.
• Access to Listings. Even if you’ve found a house, realtors might have access to exclusive listings and can help you find similar properties that may better suit your needs.

Pros of using a realtor

Time-Saving

• Handling Details. Realtors manage appointments, open houses, showings, and follow-ups, allowing you to focus on your day-to-day life.
• Streamlining the Process. They keep the transaction on track, coordinating between different parties to ensure a smooth process.

Peace of mind

• Expert Guidance. Having a knowledgeable professional by your side can alleviate stress and provide confidence in your decisions.
• Problem-Solving. Realtors are experienced problem-solvers who can address issues that arise during the transaction.

Protection

• Fiduciary Duty. Realtors are legally obligated to act in your best interest, providing an added layer of protection.
• Error Prevention. Additionally, they help ensure that all paperwork is completed correctly, reducing the risk of costly mistakes.

Cons of using a realtor

Cost

• Commission Fees. Realtor commission rates are typically 5-6% of the home’s purchase price, split between the buyer’s agent and the seller’s agent. Also, this can be a significant expense.
• Additional Costs. Some realtors might charge for additional services, such as marketing or professional photography.

Potential for conflicts

• Dual Agency. In cases where the realtor represents both the buyer and seller, there can be a conflict of interest. Also, it’s important to understand how this might impact your negotiation.
• Personal Preferences. You might prefer to have direct control over the negotiation and decision-making process.

How can I act?

Easy! make an offer!! Meanwhile, you can technically make an offer on a house without a realtor, having a realtor can be beneficial. Also, they can guide you through the process, help draft a legally sound offer, and negotiate terms with the listing agent. Additionally, their expertise can help you avoid common mistakes and ensure that your offer is competitive and properly structured.

If I already have a buyer for my house, do I still need a realtor?

It all depends, if you know the rules of the closing process, you can withdraw from hiring a realtor. However, you might still benefit from using a realtor if you know nothing about laws and regulations. Besides, they can handle the complexities of the transaction, manage paperwork, and ensure that all legal requirements are met. Additionally, realtors can help navigate potential issues during the closing process and support negotiations to ensure you get the best possible terms.

When you might not need a realtor

• Experience. If you have bought or sold property before and are familiar with real estate transactions, you might feel confident going alone.
• Knowledge. A strong understanding of the local market and real estate laws can reduce the need for a realtor’s expertise.
• Resources. Access to legal advice and a network of trusted professionals can help you navigate the process independently.

Bottom line

Finally, deciding whether to use a realtor when you’ve already found the house you want depends on your circumstances. Besides, realtors offer valuable expertise, negotiation skills, and peace of mind, but their services come at a cost. Weigh the pros and cons carefully to determine the best approach for your situation. Also, consulting with a realtor, even briefly, can provide valuable insights and help you make an informed decision.

Written by Vanessa Gallanti. February 1, 2025

Enthusiast about planning, project management, construction materials and technology, and construction. A civil engineer from Los Andes University and a content writer for Kukun.