If you plan to buy a home in 2020 or 2021, you face many new and unique challenges due to the pandemic, regional closures, and a struggling economy. But if you want to save money by trying to go it alone without a realtor, you may want to reconsider. Now is a time when a professional real estate agent could be more important than ever. Here are four reasons why.
1. Markets Are Fluctuating. During many economic recessions, the real estate market drops and remains low and slow until the economy picks up again. However, the 2020 recession may not behave in the standard way. Many Americans have moved due to Covid-19 concerns. This may mean an influx of people in less common directions, rural areas for example. And as states' virus exposure rises and falls, markets have the tendency to change rapidly.
2. Realtors Watch Trends. The way things are going in your intended home market at the moment may not be what you can expect in the coming months or weeks. For instance, if your region has recently reopened its economic activity, homes might be put on the market at higher prices due to lower inventory. But your real estate agent has been learning about the pandemic's effects and may be able to advise you on how to time your purchase in order to get better prices.
3. You Might Need a Deal. Most people have seen their finances suffer during the economic recession or as a result of 'stay at home' orders. If you're in a tighter spot financially right now, a professional can help you find a good house that you can afford as well as to negotiate for the best price.
4. Pent-Up Demand May Be High. If people put off buying or selling — or moving — during 'shutdowns', they may react by flooding the market when things start to look better. This is a time when you may either find yourself competing with many buyers or having to sort through a lot of sudden inventory. A professional agent can help you act quickly and wisely in either situation.
Could you use help in any of these areas? A realtor works with unusual market conditions and trends for a living and so they are in the best position to be the ally you need. Learn more by making an appointment with a realtor in your area today.
