Is it Smart to Buy a Home Without a Realtor?

Considering purchasing a home on your own? The decision to buy a home without a realtor shouldn’t be taken lightly.

In 2021, 87% of buyers purchased their homes through a real estate agent or broker — meaning that at least 13% of buyers did not partner with a real estate professional to assist them in their transactions.

As members of the largest trade’s association in the U.S., certified REALTORS® are best suited to help you find your ideal home, make an attractive offer, and move forward with the escrow process.

When you decide to purchase a home without help from an industry professional, you will have a different transaction experience compared to if you did partner with a top agent in your area.

Should You Buy a Home Without a Realtor?

While it is possible to buy a home without a realtor, there are many noteworthy benefits to working with a top realtor in your market that should not be overlooked.

If you’re deciding whether or not you really want to buy a home without a realtor, here are a few things to consider to help you understand how your choice will play out over the course of your transaction.

What It’s Like to Buy a Home Without a Realtor

Here’s a quick review of what it would be like to buy a home without a realtor.

#1. You’ll Be House Hunting Alone

When it’s time to begin searching the market for listings, buyers who decide not to hire a realtor will be left alone to search, compare, and review potential properties.

Without a realtor, you’ll only be able to access listings on consumer-facing MLS platforms. This may limit the opportunities you have access to, as well as increase the competition since you’re not dealing with exclusive listings.

Being on your own, you’ll need to compare properties to try and determine which listing best fits your needs, budget, and lifestyle expectations.

#2. You’ll Have to Write Your Offer By Yourself

In competitive markets, you’ll need a strong offer to get the attention of sellers. Writing an offer on your own means you’ll need to figure out what an appropriate price is, as well as what strategies you’ll use to make your offer more attractive.

#3. The Listing Agent Will Manage the Escrow Process

When buyers do not have an agent of their own, the seller’s listing agent will manage the escrow process. While the listing agent will help the buyer when needed, listing agents are hired by the seller — meaning that their primary goal is to support the interests of the seller.

Buyers won’t have an industry professional fighting for their interests, negotiating for their needs, or assisting them during property inspections, walkthroughs, and closing.

What It’s Like to Buy a Home With a Top Realtor

Now, here’s a look at what it would be like to buy a home with assistance from a top realtor in your market.

#1. Your Realtor Will Guide You Through the Market Search

As you’re searching the market, your realtor will act as your guide. Realtors are able to leverage exclusive listing opportunities and industry listing platforms, giving clients greater access to their local housing markets.

With a realtor, you may be able to place an offer on a home that’s soon-to-be-listed or find out about a special listing that’s not on typical search engines or popular MLS sites.

When it comes time to compare properties, your realtor will help you narrow down the options and determine which home best accommodates your household needs.

#2. Your Realtor Will Help You Form a Strong Offer

When you work with a realtor, you’ll have an informed professional help you create a compelling offer for the home you’re interested in.

Realtors understand the current pace of the market, making them best suited to help buyers respond to trends and circumstances shaping their local markets.

Top realtors understand how important contingency clauses, bidding prices, earnest money, personal offers, pre-approval letters, and escalation clauses are for winning a listing in a competitive market.

#3. You’ll Be Guided Through Escrow Procedures

Buyers who hire a realtor will not have to stress over the escrow process since they have a professional guiding them through each next step.

From representing your needs during negotiations to helping you achieve a successful closing, a realtor helps buyers mitigate potential risks while maximizing the benefits of the home purchase.

Find Your Perfect Realtor with RealEstateAgents.com

As you can see, deciding to buy a home without a realtor can put you at a disadvantage during one of the most important transactions made in your lifetime.
Instead of navigating through a property purchase on your own, find the best realtor in your market on RealEstateAgents.com.