Buying a home for the first time can be overwhelming. While it may be tempting to avoid realtor fees and handle things on your own, having a professional by your side can make the process go more smoothly and provide valuable insight into what's likely one of the biggest purchases of your life.
"Don't try to buy a house with out working with a realtor. Okay, that's it," real estate expert and host of NBC's "Extra's Mansions & Millionaires!" writes in his book Before You Buy! The Homebuyer's Handbook to Today's Market.
Corbett breaks down 12 reasons it pays to hire a realtor. He writes:
Access to every home that's on the market via MLS (Multiple Listing Service) and all other sources, including ones that may not be listed publicly.
Inside track to the deals before they event hit the market.
The ability to combine your Dream House Checklist with your price range.
Knowledge of recent comps (comparables) — what similar properties have sold recently and for how much.
Knowledge of neighborhoods.
Ability to negotiate with the sellers on your behalf.
The inside scoop from the sellers' agents.
Expertise to negotiate and close the deal.
Experience to manage the legalities of foreclosures or other distressed properties.
Muscle to get a deal through the escrow or "under contract" period.
A litany of referrals for inspectors, mortgage brokers, and even tradesman for renovations.
Objective professional advice when you have your buyer's remorse meltdown.