Do I need to hire a Realtor when buying a home?

Key Insights

• As buyers search online for available properties, they may find themselves asking, “Do I need a REALTOR^®?”
• From understanding the market and the buying process to negotiations and regulations, there are dozens of benefits to hiring a real estate agent.
• When you hire a REALTOR, you are hiring an advocate with a fiduciary duty to you and your best interests.

Do I need a real estate agent?

Now that anyone can search for homes online and follow up-to-the-minute market inventory alerts, many buyers find themselves asking, “Do I need a REALTOR when buying a home?”

The reality is, that there are dozens of benefits to using a REALTOR. From in-depth market insights, negotiation and bidding expertise to access to pre-list inventory, buyers will often find that hiring a REALTOR is a necessity for protecting their interests and successfully securing a home.

REALTOR advantage #1: Market knowledge

Real estate agents spend hours upon hours touring homes for sale each week, which means they have in-depth insights that you simply can’t find online. Because they know what homes are selling for — not just what they are listed for — one benefit of using a REALTOR is that they can help you find the “sweet spot” that will allow you to purchase a home that matches your price range and timeline.

Furthermore, they have access to information and data available only to real estate professionals – and the expertise to interpret what it means and how to use it. For example, how “days on market” impact what a buyer might offer on a home.

REALTOR advantage #2: Access to homes coming on the market soon

Real estate agents are natural networkers who love to talk houses, and they often clue each other in on “pre-list homes,” which are listings that will be coming on the market in the upcoming weeks. Agent-to-agent connections are the number one way properties are successfully bought and sold – 90%* of Edina Realty’s transactions include both a buyer's agent and a seller’s agent.

When you work with an Edina Realty REALTOR, you’ll benefit from a network of more than 2,000 agents who live and work in every community across Minnesota and western Wisconsin — and keep each other up-to-date on upcoming homes for sale. You’ll also have access to NetworkONE, an online, pre-market listing network that gives clients a premarket advantage. As demand continues to outpace the supply of homes for sale, and buyers are competing over a shortage of homes for sale, and having insights on pre-list homes can be a major advantage.

REALTOR advantage #3: Bidding and negotiations

Because today’s inventory is so low, many homes are going into multiple offers — and buyers who don’t hire a REALTOR tend to struggle when it comes to finding a winning bidding strategy.

Real estate agents have acute market knowledge and intel on local sales numbers that go well beyond the local sales numbers the general public can find online. Because they live and breathe home prices and sales, REALTORS can help buyers determine how much to bid so they win the sale without going thousands of dollars over the second bid. Furthermore, they understand that price isn’t the only thing that sellers will negotiate. There are many terms a buyer can negotiate to stand out and win the home.

REALTOR advantage #4: All those little details

It can be easy to spot a sagging roof or a crack in the foundation, but there are thousands of little details that most buyers don’t know to look out for when touring a home. If you find yourself asking, “Do I need a real estate agent to buy a house?” then you may also want to consider how much you know about:

• Radon laws and regulations
• Plumbing, sump pumps and septic systems
• Water or storm damage
• Wiring, gas and electrical issues
• Zoning laws and contractor regulations
• Homeowner’s associations (HOAs)
• Liens
• Required inspections and disclosures

Simply put, the benefits of hiring a REALTOR often come out when they illuminate hidden flaws in a seemingly perfect property and help you avoid pitfalls.

REALTOR advantage #5: Trusted partners and resources

Your agent can recommend trusted partners in mortgage, title, insurance, construction, home inspections and more. They can also guide you to use secure systems for closing to help keep your assets and finances safe.

Your agent is also an ongoing resource after you buy your home. They can answer questions and recommend home improvements or simply provide advice and resources for your homeownership needs.

Ready to get started?

A home purchase is likely your largest financial decision – not to mention one of the most exciting (and sometimes stressful) experiences of your life. If you’re ready to connect with an agent and start the home-buying process, reach out to our customer care team to get started.

*Based on closed sales data from Edina Realty for 5.1.2023 – 4.31.2024 in Minnesota and Wisconsin.