Do I Really Need A Realtor Mt Pleasant SC?: Yes, But The Right One!
If you are thinking of buying or selling in Mt Pleasant SC, then you may be asking yourself “Do I need a realtor?”. Chances are, if you are asking that question, then you are considering selling your home. I’ll get to that in a moment, but first let me address any buyers asking that.
If you are thinking of buying a home, you should absolutely not do it without a realtor. Period. You really have nothing to gain and a lot to lose by not using a realtor to help you buy a home. However, there are a couple situations you should be very cautious of.
If you are thinking of buying a new construction home, then you will likely visit the sales office of the builder if you haven’t already. These offices are staffed with helpful sales agents that will answer your questions, go over home plans, and discuss prices and available homes/lots.
These agents will also be more than willing to help you draw up a contract. However, there is one very important thing you must know–these agents work for the builder, which means they represent the builder’s best interests, not yours. You are entitled to have your own agent representing you, and you should absolutely have your own agent.
In the second scenario, you find a house online that you love. So, you call the agent whose information is on the listing to see the house. They are not only happy to let you see the house, but they will be more than willing to help you write an offer as well. However, this agent is known as the List Agent, and they represent the sellers. Again, the are looking out for their client’s best interest, not yours.
In both situations, it is perfectly legal for one agent to represent both sides of the transaction. This is known as Dual Agency. However, they must make it clear very early on that they represent the sellers, and if they will represent both sides of the transaction that it will be Dual Agency. But this isn’t enough.
In a Dual Agency situation, an agent must take a step back and act as a go between. They must keep important information confidential for both parties. Say for instance that the sellers are getting divorced, and therefore need a quick sale.
This is something an agent wouldn’t disclose to the buyers, or they would be violating their agency agreement. So, an agent has to be very careful in a Dual Agency relationship to make sure that everything is fair to both parties. What ends up happening in a Dual Agency relationship is the agent takes a step back, and really, neither party gets full representation.
This works great for the agent, because they get a double commission. But this doesn’t work so great for the buyer or seller, because they do not get full representation. Do not settle for less than full representation when you buy a home.
An agent can make sure you put together a good offer, and will make sure to negotiate the best deal for you. They will also follow up with the proper parties to ensure your closing happens on time (because things can, and usually happen in the course of closing). But the bottom line is using your own agent doesn’t cost you anything. So, why would you not use an agent?
For home sellers asking “Do I really need a Realtor?”, chances are you are thinking of selling For Sale By Owner, or FSBO. It sounds great in theory–you can save a lot of money in real estate commission, and net more. However, as I covered in a recent blog post, that is not always the case. Selling a home yourself means you are now the real estate agent, and that job isn’t as easy as you may think.
I did a video that discusses the pitfalls of selling FSBO, and I have a website created specifically to help anyone that wants to sell FSBO. Most agents will tell you not to do it, but I offer help instead.
These are great resources for anyone thinking of selling a home in the greater Charleston SC area, and will provide you plenty of information to help you answer the question, “Do I really need a Realtor?”