Buying a home? Who needs a realtor?

In this information age that we live, many of us feel more empowered than ever to do things on our own.  More and more people these days are buying a home without the help of a real estate agent.  After all, the law doesn’t require that you have an agent representing you in a real estate transaction.  So why should you have an agent working for you when you buy a house?

Because it doesn’t cost you anything.   That’s right, the seller pays all commissions from the proceeds of the sale.  As a buyer, you can haveBend Oregon real estate agents a representative working for you to negotiate the best deal, determine the best way to deal with any issues that may arise, save you time and reduce your risk.  At no cost to you.  An argument could be made that when realtors are involved the list price of the home is higher because of commissions.  That argument would be misguided.  The market determines what a home will sell for.  Why would a seller reduce the asking price just because he doesn’t have to pay commissions? 

Because if the seller has representation you should too.  If you were being sued for $200,000 because someone tripped on your sidewalk and broke their hip would you want to represent yourself in court?  Of course not.  That is a lot of money and you want to be sure you have the best chance of keeping it.  Sure, we all watch courtroom dramas on tv but that doesn’t mean we know enough of the law to represent ourselves in front of a judge and jury.  The median home sales price in Bend is currently over $240,000.  Doesn’t it make sense to have a professional on your side if the seller has an agent working for them?

Because buying a home is no longer a simple transaction.  Twenty years ago you could buy a home with a two page contract and a hand shake.  These days, there is what seems like a mountain of paperwork, some of it required by law and most of it required if you want to protect yourself from litigious sellers.  Why take a chance and hope that you have all the necessary paperwork when you can have someone working for you who can tell you what you need and what it means?

Because a buyer’s agent helps people buy homes every day and the average American only does it once every 7 years.  Yes, there is a huge amount of information available to you via the internet and we encourage our clients to do their homework.  However, information is only useful if you know what to do with it.  A buyer’s agent puts all of that info to use on a regular basis and can help you sort through it all to determine what is important.

If you are thinking of buying a home in Bend or Central Oregon put a real estate professional to work for you.  Call us now.

 

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About Dan Seim

Dan Seim is the primary contributor to Preferred Residential's blog. He has been writing about real estate issues that affect home owners in Bend and Central Oregon since 2011.