Every homebuyer has come across this question: “Do I need a real estate agent to help me find the perfect home?” While you’re not legally required to work with a real estate agent when buying Bergen County homes, having a professional on your side can give you a wealth of benefits during your home-buying journey.
As with any major financial investment, going DIY in your home-buying journey depends on your personal preferences and situation. Here’s a quick guide to help you determine if buying a home without an agent is good or bad for you.
GOOD – IF YOU ARE INTIMATELY FAMILIAR WITH THE AREA
If you have lived in Bergen County all your life then not hiring a real estate agent could make sense, especially if you personally know the seller of the home you want to purchase. However, you are still not exempted from handling complex processes such as mortgage pre-approval, title search, and home inspections. These tasks are easier to accomplish when you have a professional guiding you through the motions.
BAD – IF YOU DON’T HAVE THE MARKET KNOWLEDGE
If you’re completely new to Bergen County, buying a home without an agent will make the home-buying process ten times longer and more difficult. Searching for potential homes alone can be daunting, given the number of homes listed on the New Jersey MLS every day. An agent will not only help you find homes quickly but they will also schedule home visits, draft offers, negotiate prices and contingencies, and go through all the paperwork involved – with the primary goal of working in your best interests throughout the transaction.
GOOD – IF YOU WANT TO WORK ALONE
You may have had bad experiences with real estate agents in the past, some of whom may have pushed you into accepting a deal that you were unsure of or signing a contract on a property that didn’t quite reach the standards of your dream home. While you may be more comfortable with handling every step of your home purchase by yourself, it can also put you at risk of making costly mistakes, encountering delays, or missing key details that can make the whole deal fall through.
BAD – IF YOU WANT TO MAKE A SMART INVESTMENT
In New Jersey, home sellers are typically the ones who pay for the commission fees of both the seller’s and buyer’s agents, the cost of which is already built into the listing price of the home. This means that even if you don’t work with a real estate agent, you would still be indirectly paying for commission fees when you purchase your home.
So unless the seller states on their listing that they will not negotiate fees with the buyer’s agent, there’s almost no financial downside to working with a trusted and reputable real estate agent. Not only will you have a better chance at finding and negotiating for the right home at the right price but they can also help you save your time and energy by taking care of all the tedious aspects of the process, from vetting potential homes to submitting all the necessary paperwork.
Work with a local real estate agent who has your best interests in mind. Get in touch with me, Frank DeZao, to find the home of your dreams in Bergen County, NJ today! Call 201.953.9376 or send me a message here.