Real Estate Agent | Do I Need a RI real estate agent?
So you are starting to look to buy a home without a real estate agent and say to me why do I need one? For someone who has owned a piece of RI real estate before or has not, the same reasons apply. Today home buying can be a lot like doing the home buying limbo.
To ensure you get the best deal negotiated, at the right sales price with seller concessions, for the right home, best home inspector, true market comparable sold measurements, find out the true house history, discover facts about a neighborhood important to the transaction and ensure you are protected with true representation. Phew, that is a mouthful but a savory bite in a home buying process that can not be ignored.
Sure some home buyers may not need a RI real estate agent to guide them but will they probably pay more for their home without a real estate agent.
The NAR says 22% of homeowners pay more for their home without a real estate agent based upon current studies of past buyers. When a real estate agent aka, buyer’s agent represents you, you are depending on someone who has expertise that you do not. You do not hire an electrician to do plumbers work or a carpenter to do a statistician’s job right? So hire a professional who knows how to represent you and negotiate for your interests in the real estate field. And yes, at NO cost to you since the seller pays the buyer’s agent’s fee.
Questions to ask yourself when becoming your own real estate agent:
– Do I understand the current RI real estate market to ensure I am not overpaying for a home? What tools do I have at my disposal? Sites like Zillow and Trulia use averages on a geographical area, have no idea of updates in a home and are not accurate at all!
– Can I research septic and sewer needs and requirements, easements and rights of ways on a property, new construction pointers and stop gaps in building?
– Know yes or no whether current zoning allows for home additions on a property?
– Understand flood maps, flood insurance and Coastal Resource requirements and Department of Environmental restrictions on property you are considering buying?
– Can you negotiate (tooth and nail so to speak) to ensure you get what you need and do it well with the other side to keep the sale together? It is an art for negotiating for many a home deal has crashed and burned because of a lack of skill sets here by both parties .
– Putting together the RIGHT team of lender and real estate attorney that do the due diligence to get the home sale done.
These are just some on the concerns and questions you need to ask yourself. If you can do all of the above, you probably can represent yourself. But otherwise why would you be your own real estate agent? I certainly can be of service to you in the RI coastal landscape. It is my business to know RI real estate inside and out. RI coastal and waterfront real estate is my forte. If you need assistance, please call me Ginny Lacey Gorman at 401.529.7849. Real Estate Agent | Do I Need a RI real estate agent?