Are Real Estate Agents Necessary?

When you are in the market for a new residence, consider the necessity of a real estate agent. Real estate agents are usually more useful to the seller of a property, but you can certainly use one to find property for you, particularly if your search is out of town or you have very little time and a set approved budget.

A real estate agent's number one goal is to sell property. A disreputable agent will use whatever means necessary to do so, but typically an agent wants to maintain a good relationship with buyers and sellers in a community and will be an ethical representative. The most important thing to remember when purchasing a house is to have both an appraisal and an independent inspection of the prospective property, and use the agent for the search.

Typically the worst shortcoming of an unethical real estate agent to watch out for is when they are willing to keep important information quiet in order to sell a house. Of course, an agent only knows what they have discovered on their own or what the seller has told them, but if there are undisclosed problems with the house, the problems could become the new owner's.

The possible hidden problems with any house could run from foundation issues, plumbing problems, electrical wiring system that are out of date, not up to code or faulty, bug infestations, or heating and cooling issues. All of these areas will be covered by a comprehensive inspection, and the money you may have to pay for an inspection on a house that you decide not to purchase could save you thousands in long term costs on a house you should not have purchased. It is much better to spend a few hundred bucks to make sure you know what you are getting in to, than to pay thousands of dollars to repair a cracked foundation.

An agent may also work to sell a house without providing the important information an appraisal can give a buyer. An appraisal will give you an idea of the typical resale time of homes in the neighborhood, and what houses in the neighborhood have sold for in the last year or six months. The appraisal of your prospective home will be based on the homes that are the most like yours in the area.

Real estate agents can provide several benefits to those who are unable or unwilling to do a lot of the research to find a new home. A reputable agent's knowledge of an area's market and available properties can provide needed services to a buyer new to the region, or who is still out of town. However, the Internet has created a database so wide and useful, if you are willing to work for yourself, you can purchase a new home without an agent.