SAVING MONEY IS NOT LIKELY Despite what many new buyers assume, skipping out on hiring a real estate agent is no guarantee that you’ll save money by avoiding paying the commission fee. The point of not using the professional services of an experienced real estate agent is usually to save money, but the truth is that do-it-yourself buyers rarely get the deal they’re after without an agent by their side, and end up paying more in the long run. Some buyers even expect, rather than just hope, to save money, and make an offer on a home accordingly. However, unless both the buyer and the seller agree to split the savings, then they can’t both save on the commission. REAL ESTATE MARKET KNOWLEDGE AND ACCESS Quite frankly, a real estate agent knows more about the real estate market than you do. You might have some knowledge, and have even done your due diligence with extensive research. However, real estate agents are specifically trained to understand all the ins and outs of the real estate market — it’s literally their specialty. Just like mechanics know more about automobile repair than the average person, and doctors have more medical knowledge than their average patients, real estate agents will know more about the housing market. They even have particular knowledge of local neighborhoods and conditions. An agent will also have better access to the housing market, because that’s the field in which he/she works and because he/ she works as a full-time liaison between buyers and sellers. Buyer’s and seller’s agents know how to put good deals together for the benefit of their clients.
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