Do I need a real estate agent to purchase a home?
You do not.
There are no legal, financial or other requirements to use the services of a real estate professional when purchasing real estate.
But given the sizable financial risks involved in buying a home, most people, from the first time buyer to the seasoned “house flipper,” elect to rely on the services of a real estate professional. After all, for the average person the purchase of a home is the single largest financial commitment he or she will ever make. Add to that the practical and emotional investment you make in your home and there’s no bigger “deal” in most people’s lives.
- “Flavors” of real estate professionals
- Real Estate Agent – anyone who holds a real estate license; gaining a license requires both specialized education and passing a certifying examination
- Real Estate Broker – a real estate agent with additional education and certification. Brokers may hire agents to work for them.
- Listing Agent – a real estate agent contracted by a seller to get the best price for a property
- Buyer’s Agent – a real estate agent who works exclusively for a buyer to get the best price
Using a real estate agent is very much in keeping with common practice in other high-stakes transactions—like buying stocks and bonds, managing legal matters, or even just going to the doctor. When the costs or risks are very high, when there is a substantial body of relevant law or practice, when significant specialized expertise in multiple disciplines is required, most people choose to work with a professional.
For sellers, real estate professionals provide:
- Access to all major listing services
- Expertise in negotiations, including in-depth analysis to determine the best deal when there are competing offers
- Extensive familiarity with the local market, including past sales data
- Expertise in pricing and staging your home for sale
- Strategic coordination of the entire sales process
For buyers, real estate professionals provide:
- Extensive familiarity with the local market, neighborhoods and communities, including access to past sales data that help distinguish between great deals and not-so-great ones
- Ability to negotiate the best price
- Expert strategies for challenging situations, like intense competition for a home, where the right professional actually works to “sell” a buyer to the seller
- Access to visit homes for sale. The right agent can stage and schedule visits to work with your schedule.
So whether you’re a buyer or a seller, whether you know a little or a lot about real estate, the right real estate professional works to protect your interests and help make sure that you get the deal that works for you.
So no, you don’t need a real estate agent to buy a home.
But using the right one is more prudent, easier, and, most importantly, more likely to get you a result you can live with, or, in this case, live in.
For more information on any aspect of buying or selling a home, contact the professionals at Krueger Real Estate. Our company, uniquely dedicated to service, wasn’t created to sell more homes. Instead, we view our mission as helping make certain that you get the results you’re after when buying or selling your home.