Buying a Home
There's nothing wrong with being your own agent. That is, if you're well informed about the laws, procedures and regulations for your area. However, most people aren't aware of the numerous subject matters necessary to protect themselves in the buying process. Never forget that you must live in your purchase after the sale is over.
It's relatively easy to learn what you need, but that takes time for research, reading, understanding, and applying that knowledge to your needs. Sure, there are good "how to books", but most readily tell you that you must research your local laws, procedures, and regulations, and if they don't tell you this, then the books aren't very good to begin with. All of that takes time, but, most people work for a living, and can't spare the time to become expert in the things they need to know.
Ask
yourself these questions:
1) What must the seller
disclose about the property, and what
may the seller disclose if I know enough to ask the right questions.
2) How do I protect
myself from surprises going wrong with
the home that aren't covered by my insurance. Like
the heating & air goes out a month after the
sale -- what am I to do? Is there a way to protect
myself from things like this (they do happen), and
even get the seller to pay the costs!
3) Am I paying too much
for my home? A good agent knows how to tell you if
a home is over-priced, and it's not guess work
either -- it's based on
facts. A good agent has the tools
available to know what property is worth. A good
agent knows how to use financial data to tell you
whether or not the price is appropriate. The same thing goes
for investors. Many investors have paid a price
that seemed reasonable when compared to their
expectations of the future, but took losses later
when they discovered that their investment
property was overvalued for the area. A good real estate agent
protects you from this type of mistake.
4) Negotiating
for things that should be part of the deal. Do you
know when carpet should be replaced for a typical
home, or what special considerations should be
looked at for the area (bad stucco, poor
construction, items not-to-code, septic tank considerations, etc.). A good agent is valuable
in ferreting out these things and saves you money,
while no agent, or a poor agent may leave you
miserable for years to come.
Picking an agent! Don't be afraid to qualify an agent before selecting them to work for you. Ask questions. One good method is to ask them up-front to explain the services they provide you. Don't be afraid to ask for details concerning a specific topic, because you'll generally be able to spot when an agent is guessing or groping for an answer. Then, select the agent that knows their job and does it well when buying or selling your home.