Now that there are many services that can help both buyers and sellers perform their own real estate transaction, it may have you thinking whether the use of a real estate agent is necessary. Although, performing the transaction yourself can save you from paying a real estate agent's commission, doing it solo may not be the right choice and can even be more costly in the long run. Below, you will learn why you should not discard the idea of using a real estate agent just yet.
1. Pricing Expertise
Knowledgeable real estate agents can determine the price of a home the moment they enter it. Agents with a lot of experience in a market can even determine how well a neighbourhood holds a certain home's value.
Home buyers and sellers today can spend several minutes surfing online and learning about the sales of comparable houses. A good real estate agent has the experience to determine whether a certain home is overpriced or underpriced. Rather than spending a lot of your time looking into houses that are not ideal for you, an agent can easily determine the house that is right for your needs.
Aside from being able to provide you with all the data on local home sales that you like, a real estate agent can also bring assets to the deal that result from years of observing a bunch of transactions in the neighbourhood.
2. Neighbourhood Knowledge
Some agents have comprehensive knowledge, while some just know where to spot the industry buzz about your neighbourhood. Real estate agents can determine comparable sales and provide these data to you. They can also help you find more data on demographics, schools or crime.
3. Skilled In Negotiation
A lot of people feel that direct negotiation between sellers and buyers is better than doing a real estate transaction through an agent as they believe it allows both parties to better communicate their individual interests. This can be true for reasonable buyers and sellers doing a certain transaction. Unfortunately, not all people are reasonable and it will not always be a smooth relationship between a buyer and a seller.
Your agent can be your messenger and they can relay your concerns to the seller's agent. The agent may have the skills to negotiate for a discount without making the seller feel that he or she is getting less out of the deal.
Understand that a seller can reject a buyer's offer just because they do not like the buyer. Your agent can assist by doing the communication for you in difficult transactions and make things smooth by preventing sellers from getting too personal. Your agent can put you in a position that is good enough for you Estate agent Smethwick to get the house you want. If you are the seller, then your agent can represent your interest without scaring off potential buyers whose aim is to buy the home for a lower price.
4. Requesting Repairs
Many buyers find it difficult to identify hidden home repair issues as well as request for repairs. A good real estate agent can spot troubles that you may not observe or can recommend a skilled and reliable home inspector who can supply you a comprehensive report on issues with the house.
The reports from inspectors are excessively long, so it is important to only include problems that are noteworthy. Your agent can request for the report that contains only the data needed for the transaction. Basically, your agent can analyze the situation and suggest the right course of action for you.
5. Market Conditions Information
Real estate agents can reveal the market conditions, which will guide your buying or selling decision. There are many factors that will determine the steps you need to undertake. Among the data that will have a large influence on what you will decide to do includes median and average sale price, average per square foot cost of comparable homes, ratios of list-to-sold prices and average days on market.
6. Can Effectively Handle The Contracts
If ever you choose to sell or buy a home, the offer to purchase contract is there to serve as protection as well as provide you capacity to back out of the deal if there are certain conditions that are not met. For example, if you decide to purchase a home with a mortgage yet fail to accommodate one of the conditions of the sale which resulted to disapproval of the mortgage, then you can lose your deposit and can even be sued by the seller for not being able to fulfil your end of the contract.
Experienced real estate agents often manage this same conditions and contracts. They know which conditions should be utilized, the safe time for them to be removed and how to utilize the contract to protect the buyer or seller.
7. Answer Questions after Closing
There are transactions that ended smoothly and with zero complications that can come back with other related issues in the future. For example, you may encounter issues with tax authorities even when the transaction is over, yet with the help of your real estate agent, all these issues can be straighten out. There are also questions and issues that were not discussed or seen due to the excitement of the closing. As good agents do not leave you after the transaction is over, you can easily call them for assistance if ever problems arise after the closing.
Many assume that they are qualified to sell their homes. However, you will see in many services and websites that most owners or sellers have many questions and confusions that arise during the selling process. Certainly, the process is not as easy as many people think it is and you will want a professional on your side if ever you see yourself in a difficult situation.