Real estate agents are often recommended for purchasing a home. You can go it alone, but there may be things that will be overlooked. If you are new to real estate, you will appreciate the services of a real estate agent. If you are a seasoned buyer, dealing directly with a homeowner may not be an issue.
Secrets real estate agents may know can include such things as who else lives in the neighborhood. Depending on which state you are in, an agent is not obligated by law to tell you certain things, and is obligated by law not to give opinions. An agent can’t state that a particular area is not for you, or that certain types live in an area. You will have to cruise the neighborhood at different times to see what goes on in the section of town you are considering.
Another secret an agent might not tell you is if the area you want to look in is about to have an increase in utility fees. Agents do not have to tell you that the school taxes will soon increase.
Some common sense things you should realize an agent will not reveal could include: The owners are divorcing; The owners lost employment, and need to sell today; Your choice is what the agent thinks is the ugliest house on the block; The neighborhood is not desirable due to the factory noise from several blocks away.
Real estate agents do not have to tell you there is a better deal on the next block. If you think an area, price, or house fits your idea of what a home should be, an agent does not have to say a word.
If you do not ask, you do not get. The fees an agent or broker charges you can be negotiable. If an agent knows lowering their earnings a few hundred dollars will save a sale, they may agree to a lesser fee.
Of course, a real estate agent is not going to tell you when a house can be purchased directly from a lender. If a house has been abandoned, or is in foreclosure, this may be the case. Understand not all lenders will deal directly with buyers, but if they do, why would an agent tell a client?
Real estate agents and brokers don’t earn a pay check unless real estate is purchased. Be sure you need an agent before you waste your time and theirs.