The Benefits Of Having A Real Estate Agent
The Benefits Of Having A Real Estate Agent
Let's start with something simple: what is a real estate agent?
A real estate agent is an individual that provides buying and selling services for homeowners. Often, these agents will also help to coordinate with various professionals such as mortgage brokers, attorneys, and home inspectors. The fee they charge depends on the service they provide and the state of residence of the client. A real estate agent usually receives a percentage of the total buying or selling price of a house.
If you are buying a home, an agent can represent you and negotiate on your behalf. This person will help to guide you through the buying process and make sure that all aspects of buying a new home from finding one to closing on the property are done as smoothly as possible.
If you are selling a house, an agent can help with pricing your home by researching local market data. They will also provide advice that might increase the number of viewers and offers for your property. A real estate agent will be able to show your home to potential buyers and coordinate any inspections that need to be done.
A real estate agent is valuable in both buying and selling homes because they are knowledgeable in buying or selling within their local market. You do not have to be an expert in buying resale properties when hiring a real estate agent because agents build their careers on providing unbiased advice that will help the buyer come up with a good deal. Working with an agent is also beneficial because you will not have to pay anything out of pocket for buying or selling a house. The seller will only pay the real estate agent when the buying deal has been closed and the money has already changed hands.
Also, buying or selling a property can be complicated, especially if this is done without professional help. Therefore, it is always a good idea to hire an agent as buying or selling a property without one might become very stressful and even result in financial loss.
What makes a good real estate agent?
A real estate agent should know about the property market and have a good understanding of the current market trends to ensure that they are buying or selling at a fair price.
It is important for them to have knowledge of the law relating to buying and selling property, as well as what you need to do to make sure the process is not too complicated.
They can help you find out what you can afford and will work with mortgage lenders who will look at your income and savings to provide you with an estimate for how much of a budget you're working with when looking for your new home. They will also be able to advise you on getting insurance for your home and assist with arranging removals.
On the selling side, agents help with the valuation of a property and staging. Some agents will deal with staging for their clients as part of the package while others might charge a fee to stage homes. In some cases, agents will even provide furniture, appliances, and some decor items in your property to maximize the chances of the home selling. Be wary of discount brokerages that nickel and dime their services just to present a low commission rate upfront.
Agents, with the help of their network and their support staff, can also help potential buyers understand the real value of your property. They research the area and the market, coming up with comparisons to other comparable homes so buyers know whether your home is worth what you are asking.
Speaking of the network: a good agent is one that doesn't work as a lone wolf. They deal with other agents constantly, exponentially increasing the size of their networks. That network accelerates sales and makes sure that hidden gems are not-so-hidden for the right buyers.
How to choose the right agent?
This is a pretty common question because, after all, finding the right real estate agent is critical. The right fit matters since real estate agents can be very influential in helping you sell your home or purchase another one - especially because real estate transactions are so time-consuming and complex, affecting every aspect of your life. You want someone who is professional, experienced, and can help make the process as smooth and painless as possible.
A real estate agent should be trustworthy and dependable. It's important that their clients feel confident that the house they are buying will be worth it. Additionally, they need to be your source of accurate information when it comes to homeownership, loan requirements, and other related topics.
Here are some telltale signs that can help you determine whether or not your real estate agent is good enough for you:
Punctuality
Your real estate agent should be on time for your appointments, whether it's showing you a house or meeting to discuss real estate-related information. It's a sign that shows their commitment to your needs and that they respect your time as well.
Knowledgeability
A real estate agent should also provide complete answers when they are addressing any sort of question regarding real estate. If they are giving half-answers or not making sense, it is time to reevaluate your realtor. It's not about having 'gotcha' moments, and not random quizzes either, but what you don't know when it comes to real estate could translate into thousands of dollars lost.
Adaptability
Some bad agents give the profession a bad name. There are 'scam-agents' who are only prowling for a commission, but many agents genuinely want you to find the right home. These agents will consider your wants and needs. If they are inattentive, or worse unwilling to listen, to the specifications you have in mind then that should immediately raise a red flag.
History
An experienced real estate agent should have clients that are willing to come back to them. This is the center of the spider's web, so to speak. Over time, an agent that leaves clients satisfied will have those clients coming back to them. These dependable agents will be willing to tell you about some of the deals they closed (while, of course, respecting the privacy of their former clients).
Transparency
If you go on a real estate website, the agent should be able to provide information about their experience in real estate and how long he or she has been working as a realtor.
What happens without an agent?
Many people who want to sell their house, or buy a new one, wonder if they could do it all themselves.
We went over most of what an agent does, and how to pick the right one - but what if you still feel like doing it all yourself? Well, let's do a quick recap of what you would need to know as your own amateur agent, the basics.
You would need to know real estate law, current trends, how to properly evaluate a property's price, how to negotiate, and how to find the houses in the first place. You might think that you could just open a listing website, pick a house, and run up to the front door but you would be leaving piles of money on the table while robbing yourself of your time.
Given the sums of money involved, the potential legal setbacks, and the lack of an agent's network which might uncover hidden gems before they even get to website listings; doing it all without an agent is going to be a huge time-sink. It's definitely possible, and you might get lucky on all fronts, but that commission is an investment that could impact your future for years to come.
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