Real estate is one of those topics that can seem simple at first glance. It isn’t until you start looking into a move of your own that things start to get complicated. Often, the questions begin with “do you need a real estate agent to buy a house?”
The simple answer is no. Legally, there’s nothing stopping you from doing it alone. But should you? That’s where it gets dicey. A good real estate agent will help you make good decisions across the board, from what to look for and what to avoid to where to begin searching in the first place.
Even that’s just the beginning of the value the right expert can bring. House hunting with a trusted Realtor® by your side can save you a lot of money and stress while giving you an elevated level of protection along the way. In this post, we’ll take a look at what a true professional can bring to the table and how to find one for your situation.
Are you ready to start your house hunt in Peterborough or the Kawarthas? Our detailed buying checklist can help you stay on track. Download your copy right here.
What’s Really Happening in the Real Estate Market Today?
Though you could represent yourself as a buyer, it’s important to consider what you might be up against. Understanding whether we’re in a buyer’s or seller’s market is relatively simple. However, it’s easy to miss the finer nuances that could allow you to get the best possible price and terms in any market condition.
Let’s say it’s a busy seller’s market and you have some competition from other buyers. Without guidance, you might feel the only way to get the house you want is to offer more money. But how much more? $50,000, $10,000, or $1,000? Almost nothing is worse than losing out on your dream home because someone else outbid you by a few hundred dollars – unless you find out afterwards that you paid tens of thousands of dollars more than you needed to.
In addition, what if there were ways to make your offer more appealing without increasing the overall purchase price? Offering a higher deposit might be the trick. You could also get pre-approved ahead of time, which gives you a competitive edge. Needless to say, working with a real estate expert can potentially save you a significant amount of money while avoiding the worst pitfalls when buying a house.
Looking for more tips on how to get the best value when buying Peterborough real estate? Here are some related posts that can help:
- Why Now Is the Time to Buy a Home in Peterborough
- How Can You Make Your Home Offer More Irresistible?
- How to Buy a Home in Peterborough With Help From Family
The Risks of Self Representation
Imagine buying a house on your own without the protection of a real estate agent. Just remember that the seller very likely does have representation, which puts you up against an industry expert who knows how to negotiate fiercely in the interests of their client.
Under the Trust in Real Estate Act, that listing agent has a fiduciary duty to help their client reach their goals. Usually this means securing the highest price for their listing with the least amount of effort. The agent is also legally obligated to disclose any information about you that could give their client the upper hand. This is all great news for the seller, but it does not help you as the buyer.
In fact, the only time the seller’s agent is even permitted to assist you is when it is in the best interests of their client to do so. Unless you have a significant amount of experience in buying and selling houses, it simply does not make sense to try to navigate the fast-changing real estate market without expert guidance.
What Buying Real Estate Really Entails
Buying real estate is much more involved than finding a listing you like and making an offer. To get the best house for your budget with the least amount of risk, you need to know what to look for and what red flags to avoid. These are not always as obvious as water damage in the basement or a collapsing roof. Sometimes, the signs that a house is (or isn’t) right for you are far more subtle than you realize.
A local real estate agent will sit down with you to refine your goals until they are crystal clear. They’ll also help you make the most of any market by working through their network and leaving no stone uncovered to find the right listing. Then, they’ll walk you through how to place a compelling offer that gives you the highest level of protection. The end goal is a house you love at the lowest possible price and with no unexpected or expensive surprises.
A skilled Realtor® makes all the difference when buying a house in Peterborough or Kawartha Lakes. It’s worth the effort to find the right fit, and the posts below can help:
- How to Find a Real Estate Agent in Peterborough You Can Trust
- Why Work With Jeff & Katie to Buy Your Next Home?
- Who Needs a Real Estate Agent?
Figuring Out Your Next Steps
If you want to buy a home while enjoying peace of mind and being supported at every turn, working with a full-service real estate team is the way to go. That brings us to one of the most pressing questions you may have – how do you find a real estate agent you can trust to deliver on all of their promises? Once again, it all starts with some background research.
- What exactly are they promising and how do they plan to deliver?
- How long has the agent worked in the area you’re looking to purchase in?
- Do they have multiple testimonials from previous happy clients?
- Do they come with a built-in network of other professionals and tradespeople to make your job easier? A well-established Realtor® typically gives you instant access to mortgage brokers, lawyers, moving services, cleaners, painters, and more.
- Is the agent friendly and approachable? Buying a house is considerably less stressful when an expert is always ready to take your call and answer all of your questions. A dedication to going above and beyond is perhaps the most important qualification of all.
Even if you’ve been through the process many times before, the thrill of finding the perfect listing and getting your offer accepted never gets old. With a little patience, a well-thought-out strategy and some expert guidance, you’ll soon be on your way to your new dream home.
Do you have questions about buying a house in Peterborough or Kawartha Lakes? Our knowledgeable Peterborough real estate agents are standing by. Reach out to team@jeffandkatie.ca or call 705-243-9797 to start the conversation today.
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