Whatever your reasons for not hiring a buyer's agent, they probably aren't good enough to forgo such an important homebuying resource. Here are three reasons why hiring a buyer's agent can benefit you.
You'll have someone on your side
Hiring your own buyer's agent will ensure you have someone working on your behalf with your best interests in mind. You'll also have someone who will handle communication with the other party, and keep your transaction on track. And when you have questions during the process, you'll have someone you can trust providing the answers.
You'll probably save money
There is usually no direct cost when you hire a buyer's agent, since sellers typically cover the agents' commissions. Plus, you'll have an expert negotiator working for you. Even if you think you're good at getting deals, a buyer's agent has experience negotiating sale prices in your market, and has access to data that will help you create a more accurate offer price than what you'd come up with on your own.
You'll reduce your chances of legal trouble
Are you comfortable with earnest money, option fees, and title insurance? Real estate transactions are complicated with continually changing laws and procedures. Unless you're dedicated to keeping up with the latest industry news, you're putting yourself at risk of losing money or winding up a party in a lawsuit. Buyer's agents keep up with the laws and know ways to reduce your risk in a real estate transaction.