Should I Use a Real Estate Agent When Buying a Home in Virginia?

Whether you’re new to the area or have lived in the vicinity for decades, using a real estate agent when buying a home in Virginia may save you a lot of heartaches.

While you do not necessarily need a real estate agent to purchase a home; (and many people opt not to) it might benefit you to do so, and there are several reasons why.

However, there is one exception that when you will need to use an agent to purchase property even if you have opted against it.

That’s if you bid on FHA foreclosure properties, as you will need to have a qualified agent to help. The Department of Housing and Urban Development requires all bidders to use licensed agents.

So, if you’re looking for a home in Richmond, Virginia Beach, Lansdowne, or another neighborhood or city in beautiful Virginia, looking for a qualified agent to get you your dream property might be the way to go.

Reasons to Use an Agent

Save time, More Options

One main reason you should use a real estate agent when buying a home in Virginia is to save yourself some time. Agents are equipped to assist in finding homes in your price range, and usually have access to more properties than you can find yourself online.

A professional and well-versed agent should have a good amount of information on what homes are on the market to help you decide on where to look and they should have a wealth of sales and neighborhood data to help you negotiate the best deal.

Another good reason you should use a real estate agent when buying a home in Virginia is that they’ll know the Virginia area well.

Ask yourself even if you have lived in Virginia forever or just a month, do you know the market? You need to realize doing a home search by yourself can be a full-time job and finding the perfect home doesn’t happen overnight.

Sure, the Internet makes it easy to find homes in your price range, but a good agent usually has access to more properties including For Sale by Owner properties and homes that aren’t yet listed.

Also, there are sellers of desirable homes who prefer not to “go public.” Only agents (and their colleagues) working with those sellers know about those so-called “pocket listings.”

A tip if you are searching online: Most people find the homes they buy online but if you’re on a real estate site, you’ll probably see a house and a link to click “for more information.” Don’t unless you want agents who know nothing about the property bugging you.

If you want more information, go directly to the actual listing agent, or have your Realtor do it for you.

Good Deals

A seasoned professional also knows what you can buy in your area with your budget, and what is a good deal. They how to put together tempting offers, when to go to bat for you, and when to walk away. This expertise is helpful in neighborhoods where home values vary widely from block to block – or in seller’s markets throughout Virginia.

Agents are also good at obtaining information and helping with negotiations so unless you’re a real expert in negotiating real estate deals, it’s a better idea to follow your agent’s advice. Also, an experienced agent will make sure counteroffers, extensions, appraisals, inspections, walk-throughs, loan approvals, and more all go off without a hitch.

Paperwork

When you use a real estate agent when buying a home in Virginia, they’ll do all the paperwork on your behalf that goes along with the very stressful and complex home buying process.

Unless you like filling out tons of forms – and have experience in real estate transactions – this is something best left to the professionals, who will do it all by the book.

Avoid Costly Mistakes

It’s a known fact that mistakes can cause deals to go belly-up or make you liable for an inadvertent breach of contract should you go it alone without a pro and aren’t an expert.

If you’re a first-time homebuyer, your agent will help you avoid costly mistakes – such as skipping the home inspection or disclosing too much personal information.

Finding a Good Agent

Because the fees for the buyer’s and seller’s agent are usually paid by the seller, there’s no reason not to interview more than one agent about representing you.

Before hiring a real estate agent, do your research and ask around for referrals, and suggestions from acquaintances. It’s probably best not to go with a friend’s agent or a relative in case it doesn’t work out

Also, know the difference between “real estate agent” and “Realtor” as they are different. Realtors are agents who are members of the National Association of Realtors. They must abide by rules set by their governing body, but agents are not required to join the NAR to work.

Work with a full-time agent and someone who only works a few hours a week as an agent and the rest of the time at a full-time job in a different field or career.

Choose a seasoned professional as but you don’t want to be an agent's learning experience or guinea pig.

Check their background online to make sure they are licensed and have no complaints or pending lawsuits filed against them or in the works.

If yours is a complicated transaction, you might want an extra experience — some agents complete additional training and earn extra designations for special expertise — Accredited Buyers Representative, Certified Residential Specialist, Certified International Property Specialist, etc.

In the End

There’s no doubt about it, buying a home requires making many important financial decisions, understanding complex issues, and completing a lot of paperwork.

It doesn’t hurt to have an expert on our side when undertaking such a large purchase. Choose someone who can guide you through it all and provide you with access to property listings before they become available on the general market.

If you decide to go the agent way you’re not alone as most homebuyers think agents are worth the price, according to the National Association of Realtors. In 2016, 87 percent of home buyers purchased through a real estate agent. Of these, 89 percent said they would use the same agent again or recommend them to others.

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