Should You Use a Real Estate Agent to Help with the Homebuying Process?
There’s no doubt about it — owning a home is an exciting prospect. After all, you’ve always dreamed of having a place that you could truly call your own. But buying a home can be stressful, especially when you’re buying one for the first time. Fortunately, knowing what to expect can make it a lot easier.
A knowledgeable real estate agent can guide you through the process of buying a home and make the process much easier. If you’re looking to use a real estate agent, a good place to start is by asking your friends and relatives for recommendations. You can also find out the names of agents who work in your area by searching classified advertisements in your local newspaper, homebuyers magazines and the Internet. It’s also a good idea to ask other types of real estate professionals (e.g., lawyer, mortgage broker) for the names of agents they work with regularly. The assistance of a knowledgeable real estate agent can be especially helpful to a first-time home buyer. In particular, an agent or broker can:
- Help you determine your housing needs
- Show you properties and neighborhoods in your price range
- Suggest sources and techniques for financing
- Prepare and present an offer to purchase
- Act as an intermediary in negotiations
- Recommend professionals whose services you may need (e.g., lawyers, mortgage brokers, title professionals, inspectors)
- Provide insight into neighborhoods and market activity
- Disclose positive and negative aspects of properties you’re considering
Keep in mind that if you enlist the services of an agent or broker, you’ll want to find out how he or she is being compensated (i.e., flat fee or commission based on a percentage of the sale price). Many states require the agent or broker to disclose this information to you up front and in writing.
Buying a New Home: A Quick Start-to-Finish Guide
Download our easy guide to learn about getting a mortgage and buying a home. Topics include:
- Where should you start?
- What can you afford to buy?
- How’s your credit score?
- Down payment and closing costs
- Understanding your mortgage payment
Article prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2018; June 6, 2018
RBFCU Realty LLC is a wholly-owned subsidiary of RBFCU Services LLC. Kuper Realty Holding Company, LLC dba Kuper Sotheby’s International Realty is a subsidiary of RBFCU Services LLC. RBFCU Services LLC is affiliated with Randolph-Brooks Federal Credit Union (RBFCU).